My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
AG 1997 07 21
CabarrusCountyDocuments
>
Public Meetings
>
Agendas
>
BOC
>
1997
>
AG 1997 07 21
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/25/2002 6:29:29 PM
Creation date
11/27/2017 11:54:02 AM
Metadata
Fields
Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/21/1997
Board
Board of Commissioners
Meeting Type
Regular
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
277
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
When the Assessed Value reaches "Level 1 Grant", IMSA shall be entitled to an <br />initial Grant (the "Initial Grant") from the City and the County whether IMSA completes <br />the Project or not at such time. The period of the Initial Grant shall be for five years and <br />the beginning of the five-year period of the Initial Grant shall be within one (1) year after <br />IMSA completes the Project or, if IMSA does not complete the Project, within one (1) <br />year after the Assessed Value reaches "Level 1 Grant". The procedure of the Initial Grant <br />is as follows: <br /> <br />1). IMSA shall elect the fiscal year with which the five-year period for the Initial Grant <br />begins and shall give a written notice to the City and the County for their consents to such <br />election. ("Fiscal year" of the City and the County is a period of one (1) year <br />commencing on July, 1 each year). -- <br /> <br />2). During the five-year period of the Initial Grant, IMSA shall send to the City and the <br />County, at the time IMSA makes its annual payments of Property Taxes due to the City <br />and the County, each of the followings: <br /> <br />(i) a summary report confirming the current employment levels oftMSA at the <br /> Facility; <br /> <br />(ii) the average salary of the employees of IMSA at the Facility, and <br /> <br />(iii) a copy of the receipt for the Property Taxes payment and any <br /> accompanying correspondence. <br /> <br />(3). During the five-year period of the Initial Grant, the City and the County shall make <br />the Grant Payment to IMSA each year within thirty (30) days after IMSA's annual <br />payment of Property Taxes and the delivery of the documents referred to in the preceding <br />Paragraph 2). <br /> <br /> The investment, which is made after IMSA's qualification for the Initial Grant <br />and which is listed on EXHIBIT A as of the date of this agreement, is entitled to addition <br />to the Initial Grant upon written request oflMSA, provided, however, that such addition <br />shall have no impact upon the Grant Payments for previous years and shall apply only to <br />the remaining years available during the five-year period of the Initial Grant. <br /> <br /> The investment, which is made after IMSA'~ qualification for the Initial Grant <br />and which is not listed on EXHIBIT A as of the date of this agreement, may be entitled to <br />addition to the Initial Grant upon written request of IMSA and consents of the City and <br />the County, provided, however, that such addition sha!l~ have no i.mpact upon the Grant <br />Payments for previous years and shall apply only to the remaining years available during <br />the five-year period of the Initial Grant. <br /> <br />3 <br /> <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.