03/30/2021 - Laserfiche WebLink

Home Browse Search

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 and wages 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. The agreement will also include automatic termination provisions that are dependent upon performance (or lack thereof) by Company. Under those provisions, automatic termination will occur either on the date. the County has made the last jobs grant payment, or upon failure of Company to meet the minimum of 5 jobs hiring deadline, or upon failure to provide quarterly reports for a period of three years (draft agreement attached). 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 2021-22. The following table indicates the proposed grant funds to be distributed to Diamond Drinks of Florida, Inc. by fiscal year. FY Proposed Job Grant Payments 2021/22 $10,000.00 2022/23 $25,000.00 2023/24 $50,000.00 2024/25 $40,000.00 2025/26 $25,000.00 Total $150,000.00 The proposed payment years and payment amounts stated will vary, depending upon actual performance by Diamond Drinks of Florida; Inc. Since there may be unanticipated delays in hiring new employees, an allowance for an administratively approved extension of up to one year will be included in the jobs grant agreement. That allowance could shift grant payments out by up to one year. CONCLUSION Based on the analysis conducted, staff has determined that Diamond Drinks of Florida, Inc. qualifies for a local jobs grant of up to $150,000. 48