AG 1998 11 16 - Laserfiche WebLink

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proposed cxpausion lnOjeCt to be completed by FCI. A copy of the Cabarms County Tax Assessor's record for the actual, real and personal property asscasracnt for FCI's faailities within thc project area as 01'.Tanuary 1, 1998 are attached hereto as zFAh~.JLI~. The intent of the Proi/,'~.mn is that the City and Comity will always see positive fl-,mcial benefit associated with each project. The Programs are designed to ensure that the City and County see increases in property tax basc and other various local government revenue resources as benefits from the Program. 1.$ FCI Re_~orts. After FCI shall have qualified for a Cuant and shall have notified the City and County of its election to begin the r,~Itial Grant Period or a Subsequcnt Grant Period for such Grant, as the case may be, FCI shaT]~ during the five-year pcriod of such Grant, send to the City Man~er and the County Manager, at the time FCI makes/ts annual property tax payments, cach Of the fOllow/ng: (i) a summary rcport confirming the current employment levels of FCI at the Propcn'y; (ii) the average salary of thc employees of I~CI at the Property; and (iii) a copy of the receipt for such property tax payment and any accompanying correspondence. 1.6 Grant Payments. Thc City and the County agree that thc C-rant payments ~o be made to FCI each year will be made on or before March 1st of eacl~ calendar year ia accord,nce with other pwvhions of this Agreement. During the Ch. ant award period, FCI ~ that it must remain current with all real and personal property taxes assessed and any other fees. taxes or other assessments levied by the City and County to remain eligible for th~ Grant. Failure to do so, may r~sult in t~rnlna~/on of thc Giant award. Section 2, State Incentives. The City and thc County agree to assist FCI in obtaining any iaccntives, gnmts and programs that may be or become available from the State of lqorth Carolina and shall "pass through" to the benefit off FCI any incentives, ~ia~ts and pro~Tams that the State of North Carolina provides to cities and counties for economic development purposes. Section 3. ChaHen_ee to Incentives. As stated in the Program, no change in the pm/ram al~er the date hereof shall apply to the provisions of this Agreement or to the FCI Plnn,~ (as it may be amended). In the event one or more lawsuits or other proceedings are brought against the City or the County or any City or County elated official challenging the legality of the Orants or this Agreement or any portion thereof, then the City and the County shall defend against any and all lawsuits or other proceedil!gs, inclllding appealing any adverse jug2,,,~t to the appropriate Court. In the event that any of thc grants, incentives or other agreements of the City or thc County arc dctcrmlned to be invalid, the City and thc County agree ~ they will, to the extent