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AG 2017 02 20
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AG 2017 02 20
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Last modified
2/22/2017 11:54:50 AM
Creation date
11/27/2017 10:27:23 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
2/20/2017
Board
Board of Commissioners
Meeting Type
Regular
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County and the delivery of the Assessor's Statement; provided, however, that if at the <br /> time of such property tax payment Project Pinecone Applicant has not paid all taxes due <br /> and payable to the County, including but not limited to taxes disputed by Project <br /> Pinecone Applicant, the County shall withhold the annual Grant payment until such time <br /> that Project Pinecone Applicant is current on payment of all such taxes. <br /> 2. Special Conditions. The County's obligation to make the Grants <br /> provided in this Agreement are specifically conditioned upon Project Pinecone Applicant <br /> a) occupying the Site for at least ten (10) years after installation of the New Investment, <br /> and b) maintaining the New Investment and Facility in operating condition in the County <br /> for at least ten (10) years after installation of the New Investment. In the event that <br /> Project Pinecone Applicant does not fulfill any one or more of these conditions, any <br /> Grants not paid will be cancelled and Project Pinecone Applicant will be required to <br /> immediately repay all Grants previously paid. This remedy is in addition to the remedies <br /> available to County in Paragraph 4, below. Notwithstanding the other provisions of this <br /> paragraph, Project Pinecone Applicant shall not be obligated to repay any previously paid <br /> Grant(s) if Project Pinecone Applicant is unable to fully comply with the Special <br /> Conditions (a) or(b) above, due solely to a financial occurrence or event completely <br /> beyond the control of Project Pinecone Applicant. An example of such an occurrence or <br /> event is a regional or nationwide emergency or disaster which causes a disruption of <br /> commerce generally, not solely for Project Pinecone Applicant. <br /> 3. Validity of Incentives. As stated in the Program, no change in the <br /> Program after the date of this Agreement shall apply to the provisions of this Agreement <br /> or to the New Investment or the Facility(as it may be expanded or modified)unless <br /> otherwise agreed to in writing by the County and Project Pinecone Applicant. In the <br /> event one or more lawsuits or other proceedings are brought against the County or any <br /> County elected official challenging the legality of this Agreement or any provision, the <br /> County shall defend against any and all such lawsuits or other proceedings, including <br /> appealing any adverse judgment to the highest appellate court of the State of North <br /> Carolina. In the event that any of the incentives or other agreements of the County are <br /> determined to be invalid, the County agrees that it will, to the extent permitted by law, <br /> provide Project Pinecone Applicant with incentives of substantially equal value pursuant <br /> to one or more replacement incentive grant programs. <br /> 4. Noncompliance by Project Pinecone Applicant. Project Pinecone <br /> Applicant acknowledges that at any time during the period that a Grant is paid or is to be <br /> paid to Project Pinecone Applicant by County, if Project Pinecone Applicant has (a) <br /> failed or fails to make or maintain the New Investment, (b) fails to continue fully in <br /> business its existing plant, (c) fails to continue fully in business the New Facility, or(d) <br /> fails to comply with any provision of this Agreement or any provision of the Program <br /> applicable to this Agreement, then Project Pinecone Applicant shall be in default of this <br /> Agreement. In any such event, the County shall give written notice to Project Pinecone <br /> Applicant describing such default. In the event that Project Pinecone Applicant shall fail <br /> to cure such default within 90 days of having received such written notice, the County <br /> may at its option terminate this Agreement and withhold all further Grant payments. <br /> Attachment number 3\n <br /> G-2 Page 125 <br />
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