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2014-058
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2014-058
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Last modified
3/13/2017 11:30:58 AM
Creation date
10/1/2015 6:03:35 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
04/22/2014
Control Number
2014-058
Agenda Item Number
12.A.1
Entity Name
Trueaero, LLC
Subject
Jobs Grant Agreement
Supplemental fields
SmeadsoftID
13106
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j. "Quarterly Reemployment Compensation Report (RT -6 form)" — Form from the <br />Florida Department of Revenue that businesses in the state of .Florida must <br />complete and submit to the state on a quarterly basis. Information collected on the <br />form includes the names of employees their social security numbers, and the gross <br />wages paid to each employee on a quarterly basis. The information is used for <br />reemployment compensation should employees cease to be employed. For <br />purposes of this jobs grant agreement, this definition shall also include other <br />similar county approved certified forms from COMPANY or COMPANY's <br />professional employer organization. <br />k. "Relocation of a business' — a business relocating to Indian River County and <br />employing 5 or more full-time employees in the County. <br />1. ` Target Industry" — An industry identified within the Target Industry List of the <br />Economic Development Element of Indian River County's Comprehensive Plan <br />(Policy 2.5 of the Economic Development Element). <br />2. Term, Termination. This Agreement shall be effective as of date of this agreement <br />stated on page 1 and shall automatically terminate after COUNTY has made the last <br />payment to COMPANY, unless terminated earlier by COUNTY because of a default <br />by COMPANY. <br />3. Grant Eligibility; Payment Schedule. <br />a. COMPANY will be eligible for total Jobs Grant Funding (hereinafter a <br />'Grant") in an amount of up to $63,000. COMPANY acknowledges and <br />agrees that the initial Grant under this Agreement is payable on a re- <br />imbursement basis. There are a total of 2 separate Phases. The number of <br />jobs estimated to be provided by phase is listed below. Jobs grant payments <br />are dependent upon the number of employees exceeding the company's <br />employment level at the time that this Agreement is approved by the Indian <br />River County Board of County Commissioners. <br />(i) For Phase I, 10 new qualifying jobs meeting the wage level commitment <br />in Section 5 of this Agreement shall be provided by the phase <br />commencement date 10/01/14. For each of the three successive annual <br />periods that those jobs are maintained at the required wage level, <br />COMPANY shall receive 1/3 of the Grant amount for those 10 jobs. <br />(ii) For Phase II, 3 new qualifying jobs meeting the wage level commitment <br />in Section 5 of this agreement shall be provided by the phase commencement <br />date 7/01/15. For each of the three successive annual periods that those jobs <br />are maintained at the required wage level, COMPANY shall receive 1/3 of <br />the Grant amount for those 3 jobs. <br />
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