Laserfiche WebLink
<br />will provide Giles with the tax incentives set forth in <br />this Agreement, in accordance with the terms and conditions <br />of this Agreement and the Program. <br /> <br />(a) Facilities. Within fifteen (15) months following <br />execution of this Agreement, Giles conuni ts to complete <br />construction of and obtain certificates of occupancy for <br />the new expansion at the existing facility at the Site, <br />which will serve as an expansion of the existing facility <br />of at least 32,120 additional square feet; for an <br />aggregate initial minimum additional taxable investment <br />of Two Million Seven Hundred and Fifty Thousand Dollars <br />($2,750,000.00) (the "Facility"). <br /> <br />(b) Personal Property/Improvements. Within fifteen (15) <br />months from execution of this Agreement, Oiles will also <br />install new additional Personal Property at the expanded <br />facility at a minimum cost of an additional Three Million <br />One Hundred Fifty Thousand ($3,150,000.00) (the "Personal <br />Property"). (The new expansion to the existing facility <br />and the new additional Personal Property added to the <br />expanded facility may be collectively referred to as the <br />"Improvements".) Oiles represents to the County that the <br />Improvements will result in the hiring of a minimum of 20 <br />additional new permanent full-time jobs at the Site, <br />creating a minimum of one hundred (100) full-time <br />employees at the Site. Such minimum additional employment <br />level will be maintained throughout the Grant period. <br /> <br />(c) Employment Goals. Giles will provide an aggregate full- <br />time employment level at the Site of a minimum of 100 <br />full-time employees, as determined in accordance with the <br />provisions of Exhibit 0, attached hereto and incorporated <br />herein. In its hiring, Oiles will give such preferences <br />as are allowed by law to residents of the city of <br />Concord, North Carolina and the County. <br /> <br />(d) Failure to Comply with. Grant Expectations. Oiles <br />acknowledges that at the end of the fifteen (15) month <br />construction period and at any time thereafter during the <br />term of this Agreement, if Oiles has failed or fails to: <br />(a) attain a minimum of the projected level of new full- <br />time employees as determined herein and calculated in <br />accordance with Exhibit 0; or (b) attain a minimum of the <br />conunitted expenditures for the new expansion to the <br />existing facility or the new additional Personal Property <br />at the Site; the County shall reserve the right to <br /> <br />G- \ <br />