Laserfiche WebLink
Jobs Grant Aereemen <br />If the Board of County Commissioners approves Project Treadstone's Local Job Grant Application, a <br />local jobs grant agreement will be executed between the County and applicant company. That <br />agreement will stipulate various requirements, including that: <br />■ The grant will be payable over a three year period. <br />■ Project Treadstone will provide copies of its quarterly reemployment compensation reports <br />(RT — 6 forms) to the County so that the County can verify that the number of jobs and wages <br />claimed for each local jobs grant payment level is being provided. <br />■ Project Treadstone will supply documentation to the County showing that employees reside <br />within the County or in adjacent counties. <br />■ Project Treadstone will remain current on property tax payments to be eligible for jobs grant <br />payments. <br />The agreement will also include automatic termination provisions that are dependent upon <br />performance (or lack thereof) by Project Treadstone. Under those provisions, automatic termination <br />will occur either on the date the County has made the last jobs grant payment, or upon failure of <br />Project Treadstone to meet the minimum of 5 jobs hiring deadline, or upon failure to provide <br />quarterly reports for a period of three years. <br />Funding & Proposed Payment Schedule <br />If approved, the local jobs grant will be funded from County General Fund contingencies taken from <br />three separate County fiscal years starting in County fiscal year 2018-19. <br />The following table indicates the proposed grant funds (maximum amount) to be distributed to <br />Project Treadstone by fiscal year. <br />The proposed payment dates and payment amounts stated will vary, depending upon actual <br />performance by Project Treadstone. Since there may be unanticipated delays in hiring new <br />employees, an allowance for an administratively approved extension of up to one year will be <br />included in the jobs grant agreement. That allowance could shift grant payments out by up to one <br />year. <br />4 <br />01 <br />;•Proposed;j 15', an�f-P'aym'erifs;y` <br />k Ma'zimUM. Amo.unts _ <br />2018-2019 <br />$58,333.33 <br />2019-2020 <br />$58,333.33 <br />2020-2021 <br />$58,333.34 <br />Total <br />$175,000.00 <br />The proposed payment dates and payment amounts stated will vary, depending upon actual <br />performance by Project Treadstone. Since there may be unanticipated delays in hiring new <br />employees, an allowance for an administratively approved extension of up to one year will be <br />included in the jobs grant agreement. That allowance could shift grant payments out by up to one <br />year. <br />4 <br />01 <br />