Local Incentives. As permitted by Virginia Code Section 2.2-115 and required by VEDP’s Commonwealth’s Development Opportunity Fund guidelines, and as an additional inducement to Xxxxx Xxxxxxxx, the County, through the XXX, will fund an incentive grant (the “XXX Xxxxx”) in the total amount of One Million and 00/100 ($1,000,000.00). If, by the Performance Date, the XXX Xxxxx proceeds paid or committed to be paid by the County total less than the One Million and 00/100 Dollars ($1,000,000.00) COF Grant local match requirement, the County through the XXX, subject to appropriation, will make an additional grant to Xxxxx Xxxxxxxx of the difference at the Performance Date, so long as Xxxxx Xxxxxxxx has met its Targets.
Local Incentives
