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Staff and the Economic Development Council recommend that the Board of County Commissioners <br />revise the local jobs grant program as follows: <br />► Reduce the minimum job creation threshold to ten jobs; <br />► Use a performance based review method to disperse grant funds; <br />► Extend grant payment to five equal annual payments; and <br />► Eliminate the requirement for a letter of credit or other surety. <br />1. Proposed Jobs Grant Program Description and Requirements <br />2. Economic Development Council Meeting Minutes from 10/10/00 (unapproved) <br />ON MOTION by Commissioner Stanbridge, <br />SECONDED by Commissioner Macht, the Board, <br />by a 4-0 vote (Commissioner Tippin absent) <br />unanimously approved revision to the local jobs <br />grant program as follows: (A) reduce the minimum <br />job creation threshold to ten (1) jobs; (b) use a <br />performance based review method to disperse grant <br />funds; (c) extend grant payment to five (5) equal <br />annual payments; and (d) eliminate the requirement <br />for a letter of credit or other surety; all as <br />recommended by staff. <br />OCTOBER 24, 2000 <br />'A <br />