Mandatory Payment of Good Wage Rate. Owner agrees to pay all employees of the Project a Good Wage Rate. A "Good Wage Rate" is: Commencing January 1, 2018, and for each January 1 of each successive year, the Good Wage Rate shall be increased in proportion to the increase during the preceding calendar year in the Consumer Price Index. However, if the state or federal minimum wage rises to the level of any of the Good Wage Rates set forth above, then the Good Wage Rate for the subject period shall automatically increase to an amount equal to two dollars ($2.00) above the highest of the two minimum wages.
Appears in 4 contracts
Samples: Development Agreement, Development Agreement, Development Agreement
