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2008-131
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2008-131
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Last modified
3/30/2016 11:30:57 AM
Creation date
10/1/2015 12:07:51 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
04/28/2008
Control Number
2008-131
Agenda Item Number
4.A.
Entity Name
Piper Aircraft, Inc.
Subject
Closing Fund Agreement
Supplemental fields
SmeadsoftID
6997
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(2) Meet the job creation and retention requirements in Paragraph <br /> 5.0(e) (3) by December 31, 2009, <br /> (3) Maintenance of the job level specified in Paragraph 5 .0 (e) (3), and <br /> the creation of an additional 232 net new full-time-equivalent jobs by December 31, 2012, for a <br /> total of at least 1,417 full-time equivalent jobs, and the maintainance of that employment level <br /> for at least an additional three years, <br /> (4) Payment of average annual wages for the jobs specified in <br /> Paragraphs 5 .0(f)(1 )-(3) above of at least $46,500, excluding benefits, <br /> (5) Capital investment in tooling, equipment, and facility and <br /> infrastructure improvements at the Vero Beach facility since April 10, 2007, of a total of at least <br /> S32 million by December 31, 2010 and an additional $13 million, for a cumulative total of at least <br /> $45 million, by December 31, 2013, and maintainance of that investment in Indian River County <br /> through at least December 31, 2015, or later date if the extension authorized in Paragraph 5 .0(g) <br /> is elected. Documentation of this investment, in sufficient detail to provide an audit trail, must <br /> be presented to County, or its agent, by April 30 of each year following a year for which there is <br /> a capital investment performance requirement. The maintenance requirement for this capital <br /> investment in Indian River County shall not prohibit the disposition of assets no longer used or <br /> useful for the Project, nor shall the assets be used by the Closing Fund Awardee at a location <br /> outside Indian River County. <br /> (6) Submission of a report by April 30 of the year following each <br /> December 31 performance date, providing information on the cumulative investment in <br /> {3745/01/00234567.DOCv5 } <br /> 8 <br />
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