Common use of Incentive Grants Clause in Contracts

Incentive Grants. To induce East Fork to make the Direct Investment associated with the Project, to locate its expanded operations associated with the expanded employee base in Buncombe County and at its Facility, and to achieve the Jobs Minimum, the County commits to pay to East Fork a grant on the date specified below (“Future Incentive Payment”). This Incentive Grant shall be in the amount of Fifteen Thousand and No/100 ($15,000,00) Dollars. East Fork may be eligible for an additional Twenty‐Five Thousand Dollars should it meet additional hiring commitments. To meet these additional hiring commitments, East Fork must demonstrate its ability to hire from a disadvantaged population as defined in the Buncombe County Economic Development Policy (e.g., STEP Program, non‐violent offender). This documentation will be provided in the form of a certification letter. East Fork will receive a prorated incentive for each employee hired not to exceed Twenty‐Five Thousand dollars.