Fort Walton Beach Ordinance — 2093--EDATE--Project Blue Waves — reading text

City to ensure that it in the City, the creation of satisfies all requirements associated fulfillment of other representations made in applying for the EDATE Exemption, and the granting of the EDATE Exemption by the City. NOW THEREFORE, in consideration of the above and the mutual covenants contained herein, the parties agree as follows: SECTION 1: INCORPORATION. The above recitals are incorporated as essential terms of this Agreement. All capitalized terms used in this Agreement and not defined herein shall have the same meanings as ascribed to them in Section 196. 012, Florida Statutes. 1 SECTION 2: EXEMPTION. Subject to the terms and conditions of this Agreement, the City agrees to provide the Company with the EDATE Exemption as set forth in the Exemption Ordinance. MAINTENANCE AND CONTINUING SECTION 3: BUSINESS PERFORMANCE CONDITIONS. The Company, pursuant to its representation contained within the Application, and in consideration for the City granting the EDATE Exemption, agrees to: [ INCLUDE PROVISIONS THAT APPLY] FACILITY CONSTRUCTION EXPANSION ( Initial applicable A. provisions): The Company shall construct the following facilities, which shall be completed in accordance with the Application: Construct a new facility consisting of square feet 1. space; and/ or of 2. Expand an existing facility by adding an area consisting of square feet of space. B. FINANCIAL INVESTMENT (Initial applicable provisions): Through January 1, 2022, in accordance with the Application, the Company will invest a minimum of Two Million, Five Hundred Fifty Thousand Dollars ($ 2, 550, 000) in the: Construction of a new facility for the operation of its 1. business within the City of Fort Walton Beach, including the purchase of new equipment; and/ or X Expansion of an existing facility for its operations, 2. located within the City of Fort Walton Beach, including the purchase of new equipment. C. JOB CREATION: Create at least 12 full-time equivalent jobs paying an average annual wage equal to or in excess of 110% of the average annual wage for Okaloosa County during each of the tax years for which the EDATE Exemption is sought. In determining compliance 2  with the job creation requirements of this Agreement, the Company shall demonstrate that it has created the requisite number ofjobs as of January 1 of each Tax Year of the Exemption Period, as set forth in the Application. D. LOCAL EFFORT: The Company shall use its best efforts to hire employees residing within Okaloosa County and to use local suppliers for its goods and services. SECTION 4: ANNUAL FILING. Pursuant to Section 196. 1995, Florida Statutes, the Company shall: A. Notify the City and One Okaloosa Economic Development Council the " EDC"), in writing within ten ( 10) business days as to any changes in ownership of the Company. and certification statement ( the " Annual B. Submit an annual report Report") to One Okaloosa Economic Development Council and the before February 15' of each Tax City of Fort Walton Beach on or ten ( 10) tax Year of the Exemption Period, which shall be defined as years commencing with Tax Year 2023 through Tax Year 2032. Report that ( 1) the information 1. The Annual shall verify provided in the Application has not changed, or ( 2) in the event the information has changed, that the Annual Report shall set forth the changes in detail and any supporting documentation be The Business Maintenance and that may necessary. Continuing Performance Conditions contained in Section 3 may not be altered by the Annual Report. 2. The Annual Report shall certify and provide documentation that demonstrates the Company' s compliance with the Business Maintenance and Continuing Performance Conditions as set forth in Section 3 of this Agreement. The Annual Report shall contain a certification that the information contained therein is true and correct to the best of the certifier' s knowledge and belief. The certification statement ( example attached herein) shall be signed by an individual with authority to execute the Annual Report on behalf of the Company and shall be sworn to 3  before Public the State of Florida. The a Notary of documentation provided shall demonstrate compliance with each of the requirements of this Agreement. Documentation establishing compliance with any job creation requirements shall set forth the number of jobs created and the average annual wages for these positions. The documentation shall also establish that the required number of jobs created were in existence January 1" of each Tax Year within the as of Exemption Period, all in accordance the Application. 3. The City and EDC shall review the submitted Annual Report and upon determination that all applicable submittals have been included, will then forward a copy to the Office of Property Appraiser ( the " Property Appraiser") for their review and processing. The Submittal to the Property Appraiser shall be accomplished by March 1" of each Tax Year during the Exemption Period, unless special circumstances exist. 4. The City and the EDC shall have the authority to make on- site inspections, as they deemed necessary, however, they shall be under no obligation to do so. Further, the representatives of the Property Appraiser shall be given access to the site as they deem necessary for the performance of their functions. 5. The parties acknowledge and agree that nothing contained in this Agreement shall require the Company to provide the City EDC confidential, personal or otherwise or the with any sensitive employee information. 6. No EDATE Exemption shall be granted for any Tax Year within the Exemption Period unless it is determined that the Company is in full compliance with the Business Maintenance and Continuing Performance Conditions as set forth in Section 3 of this Agreement. SECTION 5: COMPLIANCE WITH EDATE EXEMPTION ORDINANCE. In conjunction with the execution of this Agreement, the City will adopt an Exemption Ordinance. The Company shall comply with all terms and conditions policies, procedures and set forth in the Exemption Ordinance, as well as any 4 guidelines adopted by the City related to the EDATE Exemption. The Company shall be provided copies of any such policy, procedures and guidelines. 6: ADMINISTRATION OF PERFORMANCE SECTION REQUIREMENTS. The Company' s compliance with this Agreement shall be annually reviewed to determine that it has satisfied the Business Maintenance and Continuing Performance Conditions set forth in Section 3 of this Agreement. A. In the event the Company fails to satisfy the Business Maintenance and Continuing Performance Conditions set forth in Section 3 of this Agreement or fails to comply with the Exemption Ordinance, then it shall not be entitled to an EDATE Exemption for that Tax Year. The failure to satisfy the Business Maintenance and Continuing Performance Conditions for a Tax Year within the Exemption Period shall not preclude the Company from qualifying for an EDATE Exemption under this Agreement for a subsequent Tax Year. However, the Company must continue to be in full compliance with all of the requirements of the Business Maintenance and Continuing Performance Conditions set forth in Section 3 of this Agreement for that particular Tax Year. B. If it is determined that for any Tax Year within the Exemption Period, that the Company received an exemption to which it was not entitled, then the City shall be entitled to seek payment of the taxes for that Tax Year along with attorney' s fees, costs and interest at the maximum rate allowed by law. C. This section shall survive termination of this Agreement. SECTION 7: ASSIGNMENT. The rights and privileges granted pursuant to the Exemption and this Agreement are not assignable or transferable in any manner without the written consent of the City and the amendment of the Ordinance. BINDING EFFECT, REPRESENTATIONS AND SECTION 8: WARRANTIES. 5 A. This Agreement shall be binding upon and inure to the benefit of and be by