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Res 2018-184/approving a Chapter 380 Economic Development Incentive Agreement with Katerra, Inc. to locate an Automated Building Component Manufacturing and Distribution Facility along State Highway 80 East of State Highway 21, which agreement provides i
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Res 2018-184/approving a Chapter 380 Economic Development Incentive Agreement with Katerra, Inc. to locate an Automated Building Component Manufacturing and Distribution Facility along State Highway 80 East of State Highway 21, which agreement provides i
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2/28/2019 8:00:34 AM
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10/23/2018 3:20:14 PM
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City Clerk - Document
Resolutions
City Clerk - Type
Agreement
Number
2018-184
Date
10/16/2018
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disability or other characteristics for which protection is available under applicable local, state and <br />federal anti -discrimination laws. Company shall report to the City in its annual Compliance <br />Certificate any judicial or administrative agency determinations that Company has violated any <br />such anti -discrimination laws in relation to persons applying for or employed in Jobs for the <br />applicable reporting period. <br />Section 3.05. Compliance with Laws. In performing its obligations under this <br />Agreement, Company shall comply with all applicable laws, regulations and ordinances. <br />ARTICLE IV <br />GRANT PAYMENTS FROM THE CITY <br />Section 4.01. Grant Payments. Subject to other terms and conditions of this Agreement <br />and Company's compliance with this Agreement, the City will make Grant Payments to Company <br />in the manner set forth in this Article. <br />Section 4.02. Ten -Year Payment Period. The City shall make up to 10 annual Grant <br />Payments to Company, as outlined in Exhibit "C." The year 2021 will be the first year in which <br />the full value of all completed Real Property improvements will be reflected on the tax rolls (as of <br />January 1) and the requisite 542 Jobs must be created and maintained (as of December 31). <br />Accordingly, the first year in which an application for a Grant Payment may be submitted to and <br />paid by the City is 2022. <br />Section 4.03. Prerequisites to Payment. The City shall not be required to make a Grant <br />Payment during any applicable calendar year unless and until: <br />(a) Company has submitted a compliance certificate in the form attached as <br />Exhibit "B" hereto (the "Compliance Certificate"), together with any other information <br />required to be submitted to the City under this Agreement necessary to verify Company's <br />compliance with the terms of this Agreement on or before April 1 of such calendar year; <br />
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