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2012-101
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Last modified
12/28/2015 1:26:38 PM
Creation date
10/1/2015 4:25:23 AM
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
05/22/2012
Control Number
2012-101
Agenda Item Number
12.A.1
Entity Name
Nylacarb Corporation
Subject
Local Jobs Grant Agreement
Supplemental fields
SmeadsoftID
11172
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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 . Expansion Commitment. As a condition precedent to and as consideration for <br /> obtaining Jobs Grant Funds from COUNTY , COMPANY agrees to expand its <br /> business operations in Indian River County as described on Exhibit "A ", which is <br /> attached hereto and made a part thereof. <br /> 5 . Job Creation Commitment . COMPANY estimates that it will provide 12 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 funds will be awarded up to a maximum of $38 ,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 S .) 1000 <br /> Average Annual Wage <br /> 100 % to 149 . 99 % of Indian River County $ 5 , 000 <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 that it will pay 11 employees <br /> whose jobs are eligible for a Grant hereunder an annual wage of not less than <br /> $ 25 , 460 .25 ; will pay 1 employee an annual wage of not less than $ 33 , 947 . 00 . The <br /> annual wage of the positions shall be determined without taking into account the <br /> value of any benefits . COMPANY shall , in accordance with the provisions of <br /> paragrapn 7 herein below, provide written verification of such wages satisfactory to <br /> COUNTY . COMPANY ' S failure to maintain its wage level commitment for any one <br /> year will result in the reduction of the Grant amount for that 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 /> attached hereto and made a part hereof as Exhibit "C" . The cumulative Quarterly <br /> State Unemployment Compensation Reports required to be filed for the annual <br /> period correlated with each eligibility determination shall collectively comprise the <br /> Annual Job Status Report . <br /> Starting with calendar quarter 4 in 2012 quarterly reports must be submitted for grant <br /> eligibility determination requirement . These quarterly reports must be submitted <br /> until the termination of this agreement. <br /> - 5 - <br />
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