Laserfiche WebLink
(a) <br /> <br />(b) <br /> <br />(c) <br /> <br />(d) <br /> <br />Facilities. Within fifteen (15) months following <br />execution of this Agreement, HSREI commits to complete <br />construction of and obtain certificates of occupancy for <br />a minimum of two facilities at the Site, consisting of a <br />production facility that will house production of the <br />HSREI #5 and #25 NASCAR Nextel Cup Cars, and a second <br />facility that will be a pit crew training facility <br />totaling at least square feet; for an aggregate <br />initial minimum taxable investment of Eleven Million <br />Dollars ($11,000,000.00) (the "Facilities"). <br /> <br />Personal Property/Improvements. Within fifteen (15) <br />months from execution of this Agreement, HSREI will also <br />install new Personal Property at the Facilities at a <br />minimum cost of an additional Eight Hundred Thousand to <br />Two Million Dollars ($800,000.00-$2,000,000.00) (the <br />"Personal Property"). (The Facilities and the Personal <br />Property may be collectively referred to as the <br />"Improvements".) HSREI represents to the County that the <br />Improvements will result in consolidation of over seventy <br />(70) employees from other County locations to the <br />Facilities and within the above fifteen (15) month <br />period, will result in the hiring of between eight and <br />twelve (8-12) additional new permanent full-time jobs at <br />the Site, with an average salary of $50,000.00 per year. <br />Such minimum employment level will be maintained <br />throughout the Grant period. <br /> <br />Employment Goals. HSREI will provide an aggregate new <br />full-time employment level at the Site of a minimum of <br />eight (8) full-time employees, as determined in <br />accordance with the provisions of Exhibit D, attached <br />hereto and incorporated herein. In its hiring, HSREI will <br />give such preferences as are allowed by law to residents <br />of the city of Concord and the County. <br /> <br />Failure to Comply with Grant Expectations. HSREI <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 HSREI has failed or fails to: <br />(a)attain a minimum of the projected level of new full- <br />time employees as determined in Exhibit D; or (b) attain <br />a minimum of the committed expenditures for the <br />Facilities or the Personal Property at the Site; the <br />County shall reserve the right to renegotiate the Grant <br />percentage to a level below sixty-five percent (65%), but <br />in no case shall the level be below fifty (50%). This <br /> <br /> <br />