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2010-190
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2010-190
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Last modified
2/23/2016 3:29:19 PM
Creation date
10/1/2015 2:22:47 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
08/17/2010
Control Number
2010-190
Agenda Item Number
12.A.1.
Entity Name
AlgaGen LLC
Subject
Jobs Grant Agreement
Supplemental fields
SmeadsoftID
9750
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days after the date COMPANY submits the latest State Quarterly <br /> Unemployment Compensation Report comprising the Annual Job Status <br /> Report (as defined in Paragraph 7) , and this payment obligation shall survive <br /> the termination of this Agreement . Notwithstanding the foregoing, should the <br /> date for filing the last quarterly unemployment compensation report, as <br /> described above , not coincide with the date that an eligibility determination is <br /> made , COMPANY shal l have the right to file a report, in a form substantially <br /> similar to a quarterly unemployment compensation report, and such report <br /> shall constitute the Annual Job Status Report, the filing of which shall begin <br /> the running of the forty- five (45 ) -day period within which payment shall be <br /> made . <br /> 4 . Relocation Commitment . As a condition precedent to and as consideration for <br /> obtaining Jobs Grant Funds from COUNTY, COMPANY agrees to locate or expand <br /> its business operations to a suitable site in Indian River County as described on <br /> Exhibit "A" , which is attached hereto and made a part thereof. <br /> 5 . Job Creation Commitment . COMPANY estimates that it will provide 6 new jobs <br /> within the county as set forth in Exhibit ` B " , which is attached hereto and made a <br /> part hereof. The exact number of jobs actually supplied and their salaries , however, <br /> may vary . Local jobs grant fiends will be awarded up to a maximum of $36 , 000 . The <br /> jobs grant award will be based on the following : <br /> Category Amount Per Job <br /> 75 % to 99 . 99 % of Indian River County $ 3 , 000 <br /> Average Annual Wage <br /> 100 % to 149 . 99 % of Indian River County $ 51000 <br /> Average Annual Wage <br /> 150 % of Indian River County Average $ 7 , 000 <br /> Annual Wage (or greater) <br /> 6 . Wage Level Commitment . COMPANY estimates it will pay each employee whose <br /> job is eligible for a Grant hereunder an annual wage of not less than $ 35 , 879 . 00 per <br /> position for each of 3 positions ; and not less than $ 53 , 818 . 50 per position for each of <br /> 3 positions ; the annual wage of the positions shall be determined without taking into <br /> account the value of any benefits . COMPANY shall , in accordance with the <br /> provisions of paragraph 7 herein below, provide written verification of such wages <br /> satisfactory to COUNTY . COMPANY ' S failure to maintain its wage level <br /> commitment for any one year will result in the reduction of the Grant amount for that <br /> year(s) . <br /> 7 . Annual Job Status . COMPANY must provide COUNTY with State Quarterly <br /> Unemployment Compensation Reports (Form UCT- 6) of its business operations <br /> within Indian River County on State form UCT- 6 as amended , a sample of which is <br /> -4 - <br />
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