Job Creation and Retention. Developer covenants and agrees by December 31, 2023, and during the Term of this Agreement to employ and maintain a minimum of three (3) Full-Time Equivalent Employment Positions working at the Property. Developer covenants and agrees beginning on February 1, 2024, and during the Term of this Agreement, Developer shall deliver to BCDC an annual compliance verification signed by a duly authorized representative of Developer that shall certify the number of Full-Time Equivalent Employment Positions, and shall disclose and certify the average wage for all Full-Time Equivalent Employment Positions (the “Annual Compliance Verification”). The Developer covenants and agrees beginning on February 1, 2024, and annually thereafter during the Term of this Agreement, there will be a total of five (5) Annual Compliance Verifications due and submitted to the BCDC covering the Full-Time Equivalent Employment Positions created and maintained during the Term of this Agreement. All Annual Compliance Verifications shall include quarterly IRS 941 returns, or Texas Workforce Commission Employer Quarterly Reports.
Job Creation and Retention. Developer covenants and agrees to employ and maintain a minimum Full-Time Equivalent Employment Positions working at the Property as follows:
(1) a minimum of eight (8) Full-Time Equivalent Employment Positions by July 1, 2024;
(2) a minimum of ten (10) Full-Time Equivalent Employment Positions by July 1, 2025;
(3) a minimum of twelve (12) Full-Time Equivalent Employment Positions by July 1, 2026;
(4) a minimum of fourteen (14) Full-Time Equivalent Employment Positions by July 1, 2027;
(5) a minimum of sixteen (16) Full-Time Equivalent Employment Positions by July 1, 2028; and
(6) a minimum of eighteen (18) Full-Time Equivalent Employment Positions by July 1, 2029. Further, Developer covenants and agrees beginning on July 1, 2024, and during the Term of this Agreement, Developer shall deliver to EDC an annual compliance verification signed by a duly authorized representative of Developer that shall certify the number of Full-Time Equivalent Employment Positions, and shall disclose and certify the average wage for all Full-Time Equivalent Employment Positions (the “Annual Compliance Verification”). The Developer covenants and agrees beginning on July 1, 2024, and annually thereafter during the Term of this Agreement, there will be a total of six (6) Annual Compliance Verifications due and submitted to the EDC covering the Full-Time Equivalent Employment Positions created and maintained during the Term of this Agreement. All Annual Compliance Verifications shall include quarterly IRS 941 returns, or Texas Workforce Commission Employer Quarterly Reports.
Job Creation and Retention. Failure of Owner to comply with employing and maintaining the minimum number of Full-Time Equivalent Employment Positions shall entitle the PEDC to require Owner to pay to the PEDC $100 per day for each day of such failure to comply. Said payments will not be considered as a penalty, but shall be deemed, taken and treated as reasonable liquidated damages per day that such a failure of compliance shall exist or occur. The said amounts are fixed and agreed upon by the parties because of the impracticability and extreme difficulty of fixing and ascertaining the actual damages the PEDC in such event would sustain; and said amounts are agreed to be the amounts of damages which the PEDC would sustain.
Job Creation and Retention. Failure of the Applicant to utilize commercially reasonable efforts to cause the operators of the restaurant site on the Property to employ and maintain a minimum number of Full-Time Employment Positions or Full-Time Equivalent Employment Positions as set forth and provided for herein.
Job Creation and Retention. Failure of the Developer to utilize commercially reasonable efforts to cause the operators of the retail or commercial sites on the Property to employ and maintain a minimum of thirty (30) Full-Time Employment Positions in accordance with Paragraph 5(b)(3) of this Agreement.
Job Creation and Retention. Failure of the Applicant to utilize commercially reasonable efforts to cause the operators of the office site on the Property to employ and maintain Full-Time Employment Positions or Full-Time Equivalent Employment Positions for a minimum of one year.
Job Creation and Retention. In the event the promised number of jobs have not been created or retained by the Achievement Date, the abatement shall be reduced proportionately.
Job Creation and Retention. Owner covenants and agrees by the September 1st, 2022, and thereafter during the Term of this Agreement employ and maintain a minimum of (45) Full-Time Equivalent Employment Positions (“FTEP”) working at the Company on the Property. Owner shall submit to the PEDC copies of all quarterly, annual or other reports it files with the Texas Workforce Commission and any other documentation deemed necessary by the PEDC to prove to the PEDC’s reasonable satisfaction that Owner is in compliance during the term of this Agreement with respect to employing and maintaining the minimum number of Full-Time Equivalent Employment Positions and Owner shall promptly provide the PEDC with written notice at any time during the term of this Agreement any noncompliance with said requirements.
Job Creation and Retention. As a condition of the Loan, the Business hereby agrees to create a minimum of (3) new full time equivalent jobs (defined below) within 18 months from the date of this Agreement (preference will be given to City of Hallandale Beach residents). Furthermore, the Business agrees to retain its existing workforce. The Business hereby acknowledges that the funding by the CRA is predicated upon this covenant by the Business, that failure to achieve this objective will constitute a material default under the terms of this Agreement, and that any such failure shall require the Business to repay all or a portion of the Loan plus accrued and unpaid interest pursuant to the provisions of this Agreement. [For purposes of this Agreement, a “Job” shall mean a full-time job (consisting of at least 35 hours per week of employment and eligibility for all benefits generally available for full-time employees of the Business) with the Business, at a wage at least equal to minimum wage and located in the City].
Job Creation and Retention. Developer covenants and agrees by April 1, 20242023, and during the Term of this Agreement to employ and maintain a minimum of thirty-five (35) Full-Time Equivalent Employment Positions working at the Property. Developer covenants and agrees beginning on April 1, 20252024, and during the Term of this Agreement, Developer shall deliver to BCDC an annual compliance verification signed by a duly authorized representative of Developer that shall certify the number of Full-Time Equivalent Employment Positions, and shall disclose and certify the average wage for all Full-Time Equivalent Employment Positions (the “Annual Compliance Verification”). The Developer covenants and agrees beginning on April 1, 20252024, and annually thereafter during the Term of this Agreement, there will be a total of four (4) Annual Compliance Verifications due and submitted to the BCDC covering the Full-Time Equivalent Employment Positions created and maintained during the Term of this Agreement. All Annual Compliance Verifications shall include quarterly IRS 941 returns, or Texas Workforce Commission Employer Quarterly Reports.
