Jobs and Investment Goals. The Company projects that following commencement of the Project and by December 31, 2027 (the “Compliance Determination Date”), it would make or cause to be made aggregate capital expenditures of approximately $7,500,000, towards the acquisition, construction, and equipping of the Project. The Company also projects that by the Compliance Determination Date the Project will generate or retain, directly or indirectly, approximately ten (10) new full time jobs and forty (40) new construction employment opportunities for individuals able to present the paperwork necessary to obtain legal employment. The Company acknowledges and represents that the aforementioned projected capital expenditures and employment opportunities (collectively, the “Economic Development Goals”) constitute good faith, reasonable expectations for the proposed Project, on which the Authority may rely for the purposes of this Lease. The Company covenants to make reasonable progress to achieve the Economic Development Goals before the Compliance Determination Date. The Company further covenants that it shall deliver to the Authority on or before the Compliance Determination Date, and as reasonably requested by the Authority, such additional documentation and information as may be necessary in order for the Authority to ascertain and monitor the Company’s progress towards fulfillment of the Economic Development Goals as of the Compliance Determination Date.
Jobs and Investment Goals
