AG 2001 03 26 - Laserfiche WebLink

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Page 2 One other item related to the language of the IDI Grant Agreement deserves consideration. Section 1 of the Agreement (p. 2) indicates that the grant period of five years shall begin within 12 months of the completion of the' project and shall be competed by January 1, 2006. Southeastern .will likely complete the project by February 200_1'and is therefore starting the grant in 2001. The grant period will thus be 2001-2005. For the last year of the grant, the last group of required reporting documents and ~roperty tax receipts for the IDI grant will be submitted during calendar year 2005. Per the language of the Agreement (p. 3) the last grant paYment from the local government Would therefore occur by April 15, 2006. I want to ensure'that even though the payment of the grant to Southeastern may be aft6r January 1, 2006, that this final paYment is in no way jeopardized due to the January 1, 2006 qompletion date mentioned in the Agreement. Should you determine that the January 1, 2006 date should be extended to April 15, 2006 to address this concern, please include this in the'amendment. · In addition, Section 1 of the IDI agreement references EXhibit B in the third paragraph; howe'Cer, it should be.referring to Exhibit A. You may want to amend the agreement to reflect this correction. I trust that I have provided all of the information you will need to facilitate this amendment. If you have any questions or concerns, please call me at (330) 833-2884. Thank you for your assistance and for supporti.ng our expansion in Cabarrus County. Sincerely, Dean Jollay Vice Chairman and Chief Financial Officer ~opy to' Enclosure Mr. Mauride Ewing, Cabarms Economic Development (letter only) Mr. Fletcher Hartsell,'Hartsell Hartsell Shelley & White, P.A. 'Ms. Meegan Lally Spicer, Ernst & young, LLP Mr. John Patterson, Cabarms County Tax A .d:ministrator's Office (letter ofily)