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PaRe five <br /> <br />During the grant award period, the grantee must remain current with all real and property taxes <br />assessed, other fees, taxes or other assessments levied by the grantors to remain eligible for the grant. <br />Failure to do so, results in termination of the grant award. <br /> <br />The county will monitor the assessed valuation of the project during the award period to assure that <br />the process used to determine the award of the grant remains consistent with estimates used. <br />Excessive fluctuations in the estimated project value may be cause for review of the grant inclusive <br />of modification to the terms of the grant subject to review and action by the County Commission. <br />(It is not intended that grants and the property taxes of a specific grant project equate exactly for the <br />grant period. Additions, changes in real estate valuations and other factors may impact upon the <br />actual property tax assessment base during the grant period. Estimates are used only to establish a <br />rational link between a project and its economic impact upon the county and its citizens.) <br /> <br />Grants are not transferable and may not be otherwise conveyed to another party without the specific <br />consent of the grantors. <br /> <br />Grantees are required to provide and maintain evidence that the average wages paid to employees <br />associated with a project given a grant meet or exceed the existing average wage rate for positions <br />of similar employment within the county's workforce during the grant period. <br /> <br />Grants for expansion of existing industries will account for reductions in value associated with <br />machinery and equipment being phased out, replaced or retrofitted as part of a project. Factors <br />impacting employment will be evaluated and enter into determinations of grant awards. The <br />company must agree to the value of the older assets being replaced if new assets are for replacement <br />purposes. <br /> <br />Grants for new projects will only consider estimated enhancements to the property tax assessment <br />base above those existing prior to the project as proposed. <br /> <br />The county shall provide detailed reporting processes to monitor and assure compliance with the <br />terms, conditions and other specific requirements of the grant award agreement. The grantee shall <br />comply with the reporting requirements during the grant period. The county agrees to maintain <br />confidentiality of information deemed to be proprietary in nature. The grantee shall provide the <br />county access to verifiable grant related support documentation. Failure of the county to obtain <br />required grantee documentation shall cause termination of grant <br /> <br />The grantee is required to give detailed information on assets to be considered as part of the grant <br />application process, inclusive of anticipated depreciation schedules, leasing arrangements with <br />named parties holding financial interest in assets covered by the grant program, all business or <br />corporate names that may be applicable for purposes of asset ownership. Signed releases from those <br />holding financial interests in assets may be required as documentation for grant awards. <br /> <br />Rolling stock inclusive of automobiles, trucks, tractors, trailers or other licenced vehicles shall not <br /> <br /> <br />