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1. Although a Grant may be awarded by the BOC to an applicant, <br />the Grant is not required to be paid until the applicant has fully <br />complied with this Program and has executed a written agreement <br />("Agreement") in a form satisfactory to County that sets forth the <br />specific provisions relating to the Grant. <br />2. The BOC reserves the right to waive one or more provisions of <br />this Program, but any waiver must be approved by the BOC. <br />3. The Agreement shall include with reasonable specificity a <br />project site plan, description of the project, any phasing, projected <br />new employment with job descriptions, description of the structures to <br />be built, description of the personal property assets to be installed <br />and any other data that would be relevant to comprehension of the scope <br />and value of the project such that other assets, installed outside of <br />those Grant eligible, are not commingled within the contemplated Grant. <br />4. The applicant must furnish proof satisfactory to the Tax <br />Assessor or County Attorney of ownership of any of the assets subject <br />to the Program. <br />5. Rolling stock, inclusive of automobiles, trucks, tractors, <br />trailers or other licensed vehicles and airplanes shall not qualify as <br />Program assets eligible for a Grant. <br />6. County contributions to the project's infrastructure costs <br />shall be deducted from the calculated Grant award for that project. <br />7. The beginning date of the Grant period shall be flexible in <br />order to accommodate construction and production start-up time, but <br />shall commence with a tax year that begins no later than three years <br />after the date the BOC votes to approve the Grant. The taxpayer must <br />inform the Tax Assessor in writing which tax year begins the Grant <br />Program. An extension may be granted by the BOC based upon specific <br />project related issues. <br />8. The annual Grant award due to the recipient will be paid each <br />year during the Grant period within a thirty day period of submission <br />of all data requested by the Tax Assessor necessary to determine <br />appropriate assessments on the Grant assets and the delivery of the Tax <br />assessor's Statement. Should the assessments yield a grant in excess <br />of that budgeted for the Grant assets, another thirty day period may be <br />necessary for remittance in order to accommodate budget revisions. The <br />initial Grant date is subject to the project's date of useful occupancy <br />and/or production startup, subject to the provisions of Paragraph 7, <br />above. If the recipient-taxpayer fails to properly list property for <br />purposes of taxation and the unlisted property is subsequently <br />discovered by the Tax Assessor's office, then the Grant may be <br />terminated at the discretion the BOC. Acceptance of a Grant payment <br />constitutes approval of the assessed value of Grant assets. <br />9. During the Grant period, the recipient of the Grant must be <br />current in any and all tax and other payments (including, but not <br />limited to fees for services or permits, fines and penalties) to the <br />County. Failure to be current in payments to the County shall result <br />in termination of the remainder of the Grant. <br />Attachment number 1 <br />Page 91 of 362 <br />F-2 <br />