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Reemployment Compensation Report, in a form substantially similar to a <br /> Quarterly Reemployment Compensation Report, and such Quarterly <br /> Reemployment Compensation Report shall constitute the Annual Job <br /> Status Report, the filing of which shall begin the running of the forty-five <br /> (45)-day period within which payment shall be made. <br /> If COMPANY applies for a Qualified Target Industry(QTI) Tax <br /> Refund from the State of Florida and if COMPANY has that QTI Tax Refund <br /> approved by the State, the Planning and Development Services Director or <br /> his designee will reduce the Grant amount paid directly to COMPANY for <br /> each eligibility determination in an amount sufficient to cover COUNTY's <br /> QTI Tax Refund 20% contribution obligation to the State for COMPANY's <br /> QTI Tax Refund agreement. The Planning and Development Services <br /> Director or his designee will submit the 20% payment obligation to the <br /> State for placement in the Florida Economic Development Trust Fund. <br /> (ii) If at the time of performance evaluation for payment as <br /> described in subsection 3.b COMPANY is not current on COUNTY Real <br /> Estate and Tangible Personal Property Taxes, COUNTY shall withhold Grant <br /> payments for that eligibility determination time period and COMPANY <br /> shall automatically forfeit its right to collect Grant payments for that <br /> eligibility time period. COMPANY shall remain eligible for any remaining <br /> future Grant payments for future eligibility time periods provided <br /> COMPANY is current on such taxes referenced above at the time of future <br /> Grant eligibility determination time periods. <br /> 4. Job Creation Commitment. COMPANY estimates that it will provide 7 new <br /> Qualifying Jobs within COUNTY as set forth in Exhibit "B", which is attached hereto <br /> 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 /> $27,000.00. The Grant award will be based on the following: <br /> Category* Amount Per Job <br /> 75% to 99.99% of Indian River County <br /> Average Annual Wage $3,000 <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 /> *One average annual wage category will be utilized consistent with Exhibit "D" and the <br /> County's current adopted payment calculation methodology. <br /> -6- <br />