Res 2013-164/Approving a Chapter 380 Economic Development Incentive agreement w/Triangle Pump

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classification of Jobs may change, the total number of Jobs created shall be maintained through the end of the Term. Triangle agrees to ensure that no discrimination will occur in the Creation of Jobs on the basis of race, creed, color, national origin, sex or disability. (a) Local Residency Requirement. During the Term, at least 25 percent of the persons employed in a Job shall maintain their primary residence in the City of San Marcos. Primary residence shall be established by such things as obtaining a homestead exemption for owner-occupied residences or designating an address as a primary residence for voting purposes. Section 3.02. Addition of Real Property Improvements. On or before August 1, 2014, Triangle shall cause the Real Property Improvements to be constructed. Completion of the Real Property Improvements shall be evidenced by a certificate of occupancy issued by the City of San Marcos. Section 3.03. Operation of Business. Triangle shall begin operation of the Business on the Land on or before September 1, 2014, and shall continuously operate, maintain and manage the Business for the duration of the Ten-n. Section 3.04. Compliance with Laws. In performing its obligations under this Article, Triangle shall comply with all applicable laws, regulations and ordinances. ARTICLE IV GRANT PAYMENTS FROM THE CITY Section 4.01. Grant Payments. Subject to the requirements and limitations of this Article, other terms and conditions of this Agreement and Triangle's compliance with this Agreement, the City will make Grant Payments to Triangle in the manner set forth in this Article. Section 4.02. Five-Year Payment Period. Provided Triangle has timely completed construction of the Real Property Improvements and created at least 19 Jobs in accordance with