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2011-148
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2011-148
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Last modified
2/10/2016 12:08:44 PM
Creation date
10/1/2015 2:42:28 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
07/05/2011
Control Number
2011-148
Agenda Item Number
12.A.1
Entity Name
SMI Telecoms, LLC
Subject
Local Jobs Grant Agreement
Supplemental fields
SmeadsoftID
10013
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a. COMPANY will be eligible for total Jobs Grant Funding (hereinafter a <br /> " Grant" ) in an amount of up to $ 169,000 if COMPANY locates within Indian <br /> River County . Said Grant shall be payable in 3 one year periods by Phase as <br /> more specifically set forth herein . <br /> COMPANY acknowledges and agrees that the initial Grant under this <br /> Agreement is payable on a re -imbursement basis . There are a total of 3 <br /> separate Phases . The number of jobs estimated to be provided by phase is <br /> listed below. <br /> (i ) For Phase I , 5 new qualifying jobs meeting the wage level commitment in <br /> Section 6 of this Agreement will be provided by 12/31 / 11 . For each of the <br /> three successive annual periods that those jobs are maintained at the required <br /> wage level , COMPANY shall receive 1 /3 of the Grant amount for those 5 <br /> jobs . <br /> (ii ) For Phase II , 8 new qualifying jobs meeting the wage level commitment <br /> in Section 6 of this agreement will be provided by 9/30/ 12 . For each of the <br /> three successive annual periods that those jobs are maintained at the required <br /> wage level , COMPANY shall receive 1 /3 of the Grant amount for those 8 <br /> jobs . <br /> (iii) For Phase III, 12 new qualifying jobs meeting the wage level <br /> commitment in Section 6 of this agreement will be provided by 3 /31 / 13 . For <br /> each of the three successive annual periods that those jobs are maintained at <br /> the required wage level , COMPANY shall receive 1 /3 of the Grant amount <br /> for those 12 jobs . <br /> (iv) It is understood that the quantity and types of jobs proposed by phase , <br /> their annual wages, and dates of hire are estimates . Because of this, the <br /> quantity and types of j obs provided in each phase may shift between phases , <br /> and phase commencement dates maybe extended . Proposed jobs will remain <br /> eligible for local jobs grant incentives provided : <br /> a. The minimum number of qualifying jobs that must be provided in <br /> Phase I is 5 . <br /> b . The maximum number of jobs eligible for local jobs grant funds <br /> between Phases I , II , and III is 25 . <br /> c . The maximum extension for a phase commencement date shall be <br /> one year. Such commencement date may be approved <br /> administratively by County staff. If any of the total 25 eligible <br /> jobs proposed for Phases I , II , and III are created after their <br /> proposed commencement date or, if applicable , after their <br /> administratively approved extension to the proposed <br /> commencement date, those jobs shall not be eligible for local jobs <br /> grant funds unless an amendment is made to this agreement to <br /> allow for this . <br /> .3 - <br />
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