Res 1995-203 - Laserfiche WebLink

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. EXHIBIT A ¡'5IJ PERFORMANCE STATEMENT City of San Marcos Contractor shall carry out the following activities in the target area(s) identified on the map in its 1993 Economic Development application: Project Description The purpose of this Economic Development project is to provide real estate improvements in the form of a building to support Southwest Texas Aviation, Inc. (hereinafter referred to as the Company). The building improvements will allow the Company to expand its operations in city of San Marcos. The Company primarily manufactures, sells and installs aircraft speed and performance kits. Financial Information Contractor shall inject Eighty-nine Thousand One Hundred Fifty-five and No/100 Dollars ($89 J 155) of contract funds to construct a six thousand four hundred eighty (6,480) square foot, pre-engineered, steel aircraft hanger building, with bi-fold door on an existing foundation, at the San Marcos city airport. Contractor shall ensure that the Company injects a total of One Hundred Six Thousand Five Hundred and No/100 Dollars ($106,500) in equity as follows: Ninety-six Thousand Five Hundred and No/100 Dollars ($96,500) in the form of net equity value in a single engine Mooney aircraft and Ten Thousand and No/10O Dollars ($10,000) in cash for prepayment of their exi$ting lease agreement with Contractor. Contractor shall provide to Department, upon request, evidence that project funds, both private and contract, were expended as specified in this EXHIBIT A and in EXHIBIT B of this contract. Enqineerinq Contractor shall utilize Sixteen Thousand Eight Hundred and No/100 Dollars ($16,800) of contract funds to carry out project engineering services, including preliminary and final design plans and specifications, all interim and final inspections, and all special services. Administration Contractor shall inject Six Thousand One Hundred Sixty-four and No/100 Dollars ($6,164) of contract funds to carry out project administration activities, including the cost associated with the required program fiscal and compliance audit. Project Outcomes As a result of this project, Contractor shall ensure that the Company creates five (5) full-time equivalent permanent jobs of which three (3) shall be provided to low and moderate income persons prior to the expiration date of this contract. In the event more than five (5) permanent jobs are created, Contractor shall ensure that at least fifty-one percent (51 %) of all jobs created, during the contract period, are provided to low and moderate income persons. Page 1 of 2