Res 2003-133 - Laserfiche WebLink

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EXHIBIT A PERFORMANCE STATEMENT City of San Marcos, Texas Contractor shall carry out the following activities outlined in its 2003 Revolving Loan Fund applica- tion: Project Summary The purpose of this Economic Development project is to provide working capital (and/or possibly equipment replacement) to (hereinafter referred to as the Contractor). The national objective of this project is to primarily benefit LMI persons through permanent job creation/retention. Project Activities The "minimum necessary" activities/improvements were established in the application process to be activities/improvements identified below. Contractor shall expend a total , of contract funds, for the following activities: Contractor shall inject for working capital. ($000.00) in from the City for this project Contractor shall provide to Department, upon request, evidence that funds were expended as specified in this EXHIBIT A and in EXHIBIT B of this contract. Project Objective As a result of this project, Contractor shall create/retain .(00) permanent jobs of which fifty-one percent (51%), or (00), shall be held by LMI persons prior to the expiration date of this contract. In the event more than (00) permanent jobs are created, Contractor shall ensure that at least fifty-one percent (51%) of all permanent jobs created, during the contract period, are held by LMI persons. Any employee transferring from another Contractor location or related business operation must be identified and may not be considered as a created permanent job. If Contractor's project is located in the ETJ of the City of San Marcos, Contractor shall ensure that seventy percent (70%) of the jobs created/retained for this projects shall be for residents of the City of San Marcos, Texas. OR The City has provided census data/information to document that the people employed by the Contractor may be presumed to be LMI persons, since the project site where the Contractor will be located meets the following criteria: 1. The Contractor will be located within a census tract (or block numbering area) that has a poverty rate of at least 20 percent; 2. The jobs under consideration will to be located within that census tract; 3. The tract does not include any portion of a central business district; and 4. The block group that the Contractor will be located in evidences pervasive poverty and general distress because the specific activity being undertaken is located in a block group that has a poverty rate of at least 20 percent, This information has been verified and will require no further documentation during the contact term. In the event more than .(00) permanent jobs are created, all persons may be presumed to be LMI persons, based on the criteria above. Page 1 of 2 TCF-PY02 Revised 11/5/02 Contract