Res 1989-127 - Laserfiche WebLink

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EXHIBIT A PERFORMANCE STATEMENT City of San Marcos Contractor shall carry out the following activities in the target area(s) identified on the map in its 1988 Economic Development application: Project Description The purpose of this Economic Development project is to provide a water line to enable CTEC to start-up operations in the city of San Marcos, CTEC will manufacture composite technology engIne components to be utilized in commercial and military aircraft. Financial Information Contractor shall utilize Five Hundred Thousand and No/100 Dollars ($500,000) of contract funds and Two Hundred Twenty Thousand and No/100 Dollars ($220,000) of local funds to extend a water line as specified herein to CTEC's facility in the city of San Marcos. The facility shall be located on the east side of Interstate Highway 35 (IH-35) on the north end of the city of San Marcos. The infrastructure improvements shall consist of approximately: Thirteen thousand eight hundred feet (13,800') of sixteen-inch (16") waterline which shall connect to an existing sixteen-inch (16") line along the east side of IH-35 (next to the Butler facility). The water line shall cross IH-35 at that approximate location then travel north parallel to IH-35 and cross the Blanco River and continue on to the CTEC location. The water line shall contain eight (8) sixteen-inch (16") valves, four (4) fire hydrants, and one (1) pump and storage unit. Contractor shall ensure that CTEC utilizes a minimum equity injection from machinery and equipment of Two Million Forty Thousand and No/100 Dollars ($2,040,000) for this project as follows: Six Hundred Forty Thousand and No/100 Dollars ($640,000) from a ten feet by twenty feet (10'x 20') autoclave and One Million Four Hundred Thousand and No/100 Dollars ($1,400,000) from five (5) Axis CNC Mills, Administration Contractor shall utilize Fifteen Thousand and No/100 Dollars ($15,000) of local funds to carry out all project administration activities, including the cost associated with the required annual program compliance and fiscal audit. It is further understood that any costs above this contract amount incurred by Contractor for these activities shall be paid for with local funds. Project Outcomes As a result of this project, Contractor shall ensure that CTEC creates sixty-five (65) permanent jobs prior to June 29, 1991. Fifty-one percent (51 %) of all jobs created shall benefit low and moderate income individuals. Contractor shall insure that CTEC creates the required jobs, in a timely fashion, according to the Project Implementation Schedule (Exhibit C). Page 1 of 1