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approved by the State,the Community Development Director or his designee <br /> will reduce the Grant amount paid directly to COMPANY for each eligibility <br /> determination in an amount sufficient to cover COUNTY's QTI Tax Refund <br /> 20%contribution obligation to the State for COMPANY's QTI Tax Refund' <br /> agreement. The Community Development Director or his designee will <br /> submit the 20%payment obligation to the State for placement in the Florida <br /> Economic Development Trust Fund. <br /> (ii) If at the time of performance evaluation for payment as described in <br /> subsection 3.b COMPANY is not current on COUNTY Real Estate and <br /> Tangible Personal Property Taxes,COUNTY shall withhold Grant payments <br /> for that eligibility determination time period and COMPANY shall <br /> automatically forfeit its right to collect Grant payments for that eligibility <br /> time period.COMPANY shall remain eligible for any remaining future Grant <br /> payments for future eligibility time periods provided COMPANY is current <br /> on such taxes referenced above at the time of future Grant eligibility <br /> determination time periods. <br /> 4. Job Creation Commitment. COMPANY estimates that it will provide 15 new <br /> Qualifying Jobs within COUNTY as set forth in Exhibit "B", which is attached <br /> hereto and made a part hereof.The exact number of jobs actually supplied and their <br /> salaries, however, may vary. Grant funds will be awarded up to a maximum of <br /> $49,000. The Grant award will be based on the following: <br /> Category Amnount Per job <br /> 75%o to 99.99% of Indian River County $3,000 <br /> Average Annual Wage <br /> 100%to 149.99%of Indian River County $5,000 <br /> Average Annual Wage <br /> 150%of Indian River County Average $7,000 <br /> Annual Wage(or greater) <br /> 5. Wage Level Commitment. COMPANY estimates that it will pay 13 employees <br /> whose jobs are eligible for a Grant hereunder an annual wage of not less than <br /> $29,542.50, and will pay 2 employees an annual wage of not less than $39,390.00. <br /> The annual wage of the positions will be determined without taking into account the <br /> value of any benefits. COMPANY shall, in accordance with the provisions of <br /> paragraph 6 below, provide written verification of such wages satisfactory to the <br /> Community Development Director or his designee. <br /> 6. Annual Job Status. COMPANY must provide the Community Development <br /> Director or his designee with Quarterly Reemployment Compensation Reports(Form <br /> RT-6)of its business operations within COUNTY on State form RT-6,as amended,a <br /> sample of which is attached hereto and made a part hereof as Exhibit "C". <br /> COMPANY must also provide the Community Development Director or his <br /> -6- <br />