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JOBS GRANT AGREEMENT BETWEEN INDIAN RIVER COUNTY <br />AND <br />MOD UNITS LLC <br />THIS INDIAN RIVER COUNTY JOBS GRANT AGREEMENT ("Agreement") is made as of the 23rd <br />day of April 2024 (the "Effective Date") by and between Indian River County, a political subdivision of <br />the State of Florida, by and through its Board of Commissioners, hereinafter referred to as COUNTY, <br />and Mod Units LLC a company authorized to do business in the State of Florida, hereinafter referred to <br />as COMPANY. <br />BACKGROUND RECITALS: <br />WHEREAS, it is the policy of COUNTY to stimulate economic growth in COUNTY by either <br />attracting new businesses to COUNTY or by encouraging the expansion of existing businesses within <br />COUNTY; and <br />WHEREAS, the creation of new employment opportunities for residents of COUNTY and the <br />increased tax revenues resulting from such business expansions or relocations within COUNTY is <br />beneficial to the local economy; and <br />WHEREAS, COUNTY has determined that offering a Jobs Grant Program encourages businesses <br />to expand within or new businesses to locate in COUNTY and thereby creates new employment <br />opportunities for the residents of COUNTY; and <br />WHEREAS, COUNTY, through its Board of County Commissioners, has created a local Jobs Grant <br />Program; and <br />WHEREAS, COMPANY, in accordance with the COUNTY's Jobs Grant Program criteria, is an <br />existing business that will expand its business into the COUNTY to create 24 additional full-time jobs <br />which pay at least 75% of COUNTY's average annual wage level; and <br />WHEREAS, COUNTY has determined that COMPANY is eligible to receive a Jobs Grant; and <br />WHEREAS, COMPANY acknowledges that this Agreement shall be based upon compliance with <br />COUNTY Jobs Grant Program requirements; and, <br />WHEREAS, COUNTY finds and declares that it is in the public interest to award a Jobs Grant to <br />COMPANY pursuant to the terms of this Agreement. <br />NOW, THEREFORE, in consideration of the premises and mutual covenants hereinafter <br />contained, the parties do agree as follows: <br />1. Definitions. As used in this Agreement, the following terms shall mean: <br />a. "Adjacent Counties" means Brevard, Osceola, St. Lucie, Okeechobee, and Martin <br />Counties. <br />-1- <br />