AG 2010 04 19 - Laserfiche WebLink

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paid by the County in connection with any site preparation work and/or any acquisition costs. C. County's Incentives for Land Purchase and Site Preparation Work Within ten (10) days of purchase of the property comprising the Site, County will pay Three Hundred Fifty Thousand Dollars ($350,000.00) to Company for site preparation and real estate purchases, provided that evidence of conveyance of the • site is recorded in the Cabairus County Regish•y. III. County Economic Development Incentives In further consideration of the Company's agreement to locate the Project at the Site, the County will provide the following additional Eeonoinic Development Incentive/Grants ("EDI Grants") to the Company. A. Company intends to construct the Facility in tlu~ee phases, beginning in 2010. The three phases are ,further described in the following table as: Table 1 Phase Beginnug Year Investment Amount 1 2010 $15,300,000 2 `` Post 2010 $32,500,000 3 Post Phase 2 $9,600,000 TOTAL $57,400,000 The investment amounts shown are only for the purposes of (1) calculating the County's EDI Grants, and (2) establishing a minimum investment by Company. B. Phase 1: The-County will provide tluee EDI Grants to Company, one per each phase. The EDI Grants are for four years each in an amount equal to the following formula: Assessed Valuation of the Project as of January 1 of the calendar year` immediately following "Opening Date" minus the Assessed Valuation of the Project as of January 1, 2010 X 0.0063 X 85% each year for four years following Company's request for incentive payments during which Company pays ad valorem property taxes on the Project, provided that the Assessed Valuation is equal to or greater than the amount shown in Table 1 above minus the assessed valuations of the properties on January 1, 2010. "Opening Date" is the date the Facility opens for business in substantially completed form. The "Opening Date" will not in any event be deemed to have occurred before the County grants a certificate of occupancy to Company for the Facility and the City government officials grant a certificate of compliance to Company for the Facility. G-2 Pa`Page ~a~66