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In early January 2014, after coordinating with the Indian River County Chamber of Commerce <br />Economic Development Director and the County Attorney's Office, staff sent each of the above <br />listed companies a letter notifying them that they are in default of local jobs grant agreement due to <br />non-performance and that the agreement has been terminated (see attachments 2, 3, and 4). Along <br />with being notified of the agreement termination, each company was invited to apply for a new local <br />jobs grant if/when their company is ready to move to or expand within the County. <br />With the cancellation of 3 of the 21 local jobs grant agreements, 18 remain active. County staff is <br />continuing to monitor jobs grant agreements for inactivity and will report to the Board any additional <br />local jobs grant agreements cancelled due to inactivity. <br />RECOMMENDATION <br />The above referenced information is provided for the Board's information. No action is needed at <br />this time. <br />ATTACHMENTS <br />1. List of all Local Jobs Grant Agreements <br />2. Aeroshade Technologies, Inc. Local Jobs Grant Cancellation Letter <br />3. XStream Systems, Inc. Local Jobs Grant Cancellation Letter <br />4. SMI Telecoms, LLC Local Jobs Grant Cancellation Letter <br />Approved Agenda Item: <br />Indian River <br />Co. <br />Approved <br />Date <br />Admin. <br />, <br />/4/5 <br />Legal <br />1 /f <br />1 - 1 I - is - <br />Budget <br />( <br />I/i 6 <br />Dept. <br />Ei <br />//(3/4 - <br />/13//SRisk <br />Risk Mgr. <br />F:\Community Development\Users\EDplannr\Incentives & Funding\Jobs Grant Program\CANCELLATIONS\BCC agenda item - Jobs Grant Cancellations Group v4.doc <br />3 <br />4 <br />