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AG 1998 11 16
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AG 1998 11 16
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Last modified
3/25/2002 6:09:44 PM
Creation date
11/27/2017 11:52:51 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
11/16/1998
Board
Board of Commissioners
Meeting Type
Regular
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commencing on the date designated by FQPIV, which date shall be within eighteen (18) months <br />after the sales tax goal has been achieved. The Grant Payments will be calculated based on the <br />grant level determined as follows: <br /> <br />Level I Grant: 250,000 square feet of gross leasable area; <br /> <br />Level II Grant: 500,000 square feet of gross leasable area; <br /> <br />Level 1/I Grant: 1,000,000 square feet of gross leasable area or greater. <br /> <br />Grant Payments from the County are to be paid from the County's General Fund after appropriate <br />budgetary actions by the County Commission. The County's General Fund consists of revenue <br />sources inclusive of ad valorem taxes, local sales taxes, intergovernmental revenues, permit and <br />fee revenues, sales and service fee revenues, financing soumes, interest earnings, and other <br />miscellaneous revenues. Other than as established by applicable federal or state laws, revenues <br />have no dedicated expenditure purpose. <br /> <br /> 3. State Incentives. The City and the County agree to assist FQP1V in obtaining any <br />incentives, grants, or programs that may be or become available from the State of North Carolina <br />and shall "pass through" to the benefit of FQPIV any incentives, grants, or programs that the <br />State of North Carolina provides to cities and counties of economic development p.urposes. <br /> <br /> 4. Validity of Incentives. As stated in the Incentive Programs, no change in the <br />Incentive Programs after the date hereof shall apply to the provision of this Agreement or to the <br />Facility. In the event one or more lawsuits or other proceedings are brought against the City or <br />the County or any elected official of the City or the County challenging the legality of this <br />Agreement or any portion thereof, then the City and the County shall defend FQPIV against any <br />and all such lawsuits or other proceedings, including appealing any adverse judgment to the <br />appropriate court. In the event that any of the incentives, agreements, or other assistance by the <br />City or the County are detemfined to be invalid, the City and the County agree that they will, to <br />the extent permitted by law, provide FQPIV with incentives of substantially equal value pursuant <br />to one or more replacement grant incentive programs. <br /> <br />5. Miscellaneous. <br /> <br /> (a) Notices. All notices, demands, requests, and other communications <br />required or permitted hereunder (individually, a "Notice" or collectively, "Notices") shall be in <br />writing and shall be deemed to have been duly given or served when: (a) delivered in person; (b) <br />mailed by certified or registered mail, postage prepaid and return receipt requested; (c) served by <br />Federal Express or another similar courier service; or (d) transmitted by facsimile, telex, or any <br />other reliable means of electronic transmission (which specifically does not include Internet <br />electronic mail), so long as the sender receives written confirmation of the receipt of same by the <br />recipient's machine. All Notices provided for herein shall be addressed to the parties at their <br />addresses as set forth herein or, if known to be different, at the most recent permanent address of <br />the recipient. All Notices shall be effective upon being deposited in the United States Mail, or if <br /> <br /> <br />
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