Job and Wage Goals. The Developer represents that as of April 11, 2016 it has Full-Time Equivalent permanent, non-contract, non-seasonal employees in the Developer’s Arden Hills and Shoreview, Minnesota locations. The Company will transfer the employees currently located at the Shoreview, Minnesota location to the Arden Hills, Minnesota location by the Compliance Date. On or before the Compliance Date, the Developer shall cause to be created at least 200 new Full-Time Equivalent jobs (the “New Jobs”) for a total of Full-Time Equivalent jobs on the Development Property and shall cause the wages for all New Jobs on the Development Property to be no less than $18.00 per hour, exclusive of Benefits (the “Subsidy Jobs”). Any jobs created after April 11, 2016 will be considered New Jobs and count toward the Developer’s job creation goals. The City and the County each may, after a public hearing, extend the deadlines for the goals described in this clause (b) by up to one year, provided that nothing in this section will be construed to limit the City’s and the County’s respective legislative discretion regarding this matter.
Job and Wage Goals. By the compliance date, which is the date two (2) years after the Benefit Date (the “Compliance Date”), the Developer shall cause the Tenant to (i) create at least 300 new full-time equivalent jobs at the Minimum Improvements, and (ii) cause the average hourly wage of the jobs to be at least $20.00 per hour, exclusive of benefits. Notwithstanding anything to the contrary herein, if the wage and job goals described in this paragraph are met by the Compliance Date, those goals are deemed satisfied as of the date such wage and job goals are met, despite the Developer’s continuing obligations under Sections 3.4(1)(f) and 3.4(4). The City may, after a public hearing, extend the Compliance Date by up to one year, provided that nothing in this section will be construed to limit the City’s legislative discretion regarding this matter.
Job and Wage Goals. The “Benefit Date” is the date of substantial completion of the Minimum Improvements (as confirmed by the Certificate of Completion) or the issuance of a certificate of occupancy for the Minimum Improvements. Subject to any Unavoidable Delays, within two years after the Benefit Date (the “Job Creation Date”), the Developer shall create at least 250 Qualified Jobs at the Development Property (which may include Qualified Jobs relocated to the Development Property from elsewhere in the State) and such Qualified Jobs shall collectively pay an average wage of at least $21.75 per hour including Benefits. The Authority may, as provided in the Business Subsidy Act, extend the deadlines for these respective goals by up to one year, provided that nothing in this section will be construed to limit the Authority’s legislative discretion regarding this matter;
Job and Wage Goals b) The Borrower represents that as of April 11, 2016 it has 1,730 Full-Time Equivalent permanent, non-contract, non-seasonal employees in the Borrower’s Arden Hills and Shoreview, Minnesota locations. The Borrower will transfer the employees currently located at the Shoreview, Minnesota location to the Arden Hills, Minnesota location by the Compliance Date. On or before the Compliance Date, the Borrower shall cause to be created at least 200 new Full-Time Equivalent jobs on the Development Property (the “New Jobs”) for a total of 1,930 Full-Time Equivalent jobs on the Development Property (the “Subsidy Jobs”). Any jobs on the Development Property created after April 11, 2016 will be considered New Jobs and count toward the Borrower’s Subsidy Job creation goals. The Borrower further represents that as of April 11, 2016 it has 535 full-time equivalent permanent, non-contract, non-seasonal employees in the State of Minnesota that are not on the Development Property (the “State Jobs”). As of the Compliance Date, the Borrower will provide evidence that at least the number of State Jobs set forth above exist in the State of Minnesota. If, prior to the Compliance Date, all or some of the State Jobs are transitioned to one or more third parties by sale or otherwise, and such third party agrees in writing at the time of such transition that such transitioned State Jobs will be retained in the State of Minnesota and such third party provides to the State evidence sufficient to the State in the State’s reasonable discretion that such State Jobs were retained in the State of Minnesota through the Compliance Date, the number of State Jobs set forth above and the Borrower’s obligations therewith shall be subject to an immediate and corresponding reduction. The City and the State may, collectively, after a public hearing, extend the deadlines for the goals described in this clause (b) by up to one year, provided that nothing in this section will be construed to limit the City’s and the State’s legislative discretion regarding this matter.
Job and Wage Goals. The Developer agrees that within twenty four (24) months after the City’s issuance of a certificate of occupancy for the Minimum Improvements it will create at least eighteen (18) full time or full time equivalency employment positions at the Minimum Improvements at an average wage of at least $80,000 per year. For the avoidance of doubt, employment positions meeting such requirements that are created by the owner, tenants or occupants of the Minimum Improvements or by the engagement of independent contractors for the operation of the Minimum Improvements (such as building engineers and security personnel) will meet such goals.
Job and Wage Goals. The “Benefit Date” is the earlier of (i) the date the Hotel Improvements are occupied for business, or (ii) the date of substantial completion of the Hotel Improvements (as confirmed by the Certificate of Completion). Within two years after the Benefit Date (the “Job Creation Date”), the Developer shall create at least 5 Full-Time Equivalent Jobs, each of which pays a Qualified Wage. “Full-Time Equivalent Jobs” are any combination of full and part-time jobs that together represent at least 1,750 hours of work annually. A “Qualified Wage” is an hourly wage that is the greater of (i) 100 percent of the median hourly wage in Rice County for the hotel industry (NAICS Code 721110), and (ii) hourly wages and health benefits that, when annualized assuming full-time work, total at least the rate of the 110 percent of the poverty level for a family of four. The Qualified Wage will be based on the data that is effective as of the Job Creation Date. If the required number of jobs, paying a Qualified Wage, arenumber of jobs, paying a Qualified Wage, is created by the Job Creation Date, then such requirement shall be satisfied and Developer shall have no further obligation with respect to creation or maintenance of jobs or wages.
