Common use of Identifying and Reporting Projects Clause in Contracts

Identifying and Reporting Projects. with Performance Based Incentive Deficiencies • Compliance Officer will prepare and submit a report to the MPBI Review Committee annually, detailing projects that utilized excess sales tax abatements, are not current with PILOT Payments, or have not achieved their expected employment jobs as detailed in the Agency’s and Project agreements. • Agency CEO will meet with each project to review deficiencies in performance based measurements; prepare a report for the MPBI Review Committee • Committee will assess causes of deficiencies and make recommendations to the Board, at its discretion, for action to: cure deficiencies, declare a project default, terminate the project agreement, reduce the value of incentives, terminate future benefits, and require the return of financial assistance made to date. • Board will meet with the project to jointly discuss deficiencies and resolution option(s). The following will be used to determine if an explanation exists for failure to achieve the economic benefits projected by the company:

Identifying and Reporting Projects. with Performance Based Incentive Deficiencies • Compliance Officer will prepare and submit a report to the MPBI Review Committee annuallyeach April, detailing projects that utilized excess sales tax abatements, are not current with PILOT Payments, or have not achieved their expected employment jobs as detailed in the Agency’s and Project agreements. • Agency CEO will meet with each project to review deficiencies in performance based measurements; prepare a report for the MPBI Review Committee • Committee. Committee will assess causes of deficiencies and make recommendations to the Board, at its discretion, for action to: cure deficiencies, declare a project default, terminate the project agreement, reduce the value of incentives, terminate future benefits, and require the return of financial assistance made to date. • Board will meet with the project to jointly discuss deficiencies and resolution option(s). The following will be used to determine if an explanation exists for failure to achieve the economic benefits projected by the company: