AG 2016 11 21 - Laserfiche WebLink

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Linder Applicant an incentive investment (the "Investments ") in an amount equal to $500.00 for each new employee hired and retained by Project Linder Applicant. (a) For a period of four (4) consecutive years, the County shall make an Investment to Project Linder Applicant based upon the hiring and retention of employees, as indicated in Exhibit B. (b) Project Linder Applicant may elect the initial year in which the Investments identified in Paragraphs 1(a) shall commence and shall so notify the County in writing; provided that the initial grant year shall commence no later than twelve (12) months after the qualifying equipment or construction has been released from an in- process stage to a fully- operational stage. The process of assessment of the tax value of the New Investment is more particularly described in the Program, which provisions are part of this Agreement except to the extent modified herein. The County hereby confirms that it has approved the application of the Program as modified to the Facility and has authorized the Investments and other terms of this Agreement. The County and Project Linder Applicant further confirm that this Agreement constitutes the "formal agreement" required under the Program and that the terms of this Agreement and those contained in the attached description of the Program as modified shall govern the application of the Program to the Facility. Project Linder Applicant agrees to forward to the EDC and the County Manager, at the time it makes its annual property tax payments, a copy of the property tax payment receipt, which must be requested from the Tax Collector and the Cabarrus County Tax Assessor's statement (the "Assessor's Statement ") of the valuation of the New Investment located at the Facility. The Assessor's Statement may be issued only after: (a) Project Linder Applicant has completed the Assessor's questionnaire and other substantiating corroborating documentation, including but not limited to payroll reports and employment tax returns, to the satisfaction of the Assessor; and (b) The Assessor has had the reasonable opportunity to review, evaluate and verify a value for the New Investment. The County agrees that the Investment payments to be made to Project Linder Applicant during the respective term will be made within ninety (90) days after payment by Project Linder Applicant of all property taxes due to the County and the delivery of the Assessor's Statement. 2. State and City Incentives. The County agrees to assist Project Linder Applicant in obtaining any incentives, grants and programs that may be or become available from the State of North Carolina and /or the City of Kannapolis; however, the County shall not be responsible for obtaining or paying any State or City incentives to Project Linder Applicant, except as otherwise provided by law. Attachment number 3 \n G -3 Page 217