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qualification of having wages that are above 75% of the County's average annual wage ($27,210). Grant Calculation The following table indicates the number of proposed jobs in each wage category and the amount of job grant associated with that wage category and the total jobs grant amount. Category Qualified Jobs Amount per Jo i Total 75% of county average wage 4 $3,000 $12,000 100% of county average wage 6 $5,000 $30,000 150% of county average wage 3 $7,000 $21,000 Sub -Total Grant Amount $63,000 Jobs Grant Agreement If the Economic Development Council recommends that the Board of County Commissioners approve Company's Local Job Grant Application, staff will prepare a local jobs grant agreement to be executed between the County and Company. That agreement will stipulate various requirements, including that: • The grant will be payable over a three year period by phase. • Company will provide copies of its quarterly reemployment compensation reports (RT — 6 forms) to the County so that the County can verify that the number of jobs claimed for each local jobs grant payment level is being provided. • Company will supply documentation to the County showing that employees reside within the County or in adjacent counties. Funding & Proposed Payment Schedule If approved, the local jobs grant will be funded from County General Fund contingencies taken from five separate County fiscal years starting in County fiscal year 2015-16. The following table indicates the proposed grant funds to be distributed to Company by fiscal year. YI � _ t��, r ��k F "` ' Phases Proposed Job. Grant Payrients 2015-2016 I + II $21,000 2016-2017 I + II $21,000 2017-2018 I + II $21,000 Total $63,000 4 70