(a) No award shall be paid until the minimum job creation and aggregate new annual payroll requirements of the ordinance adopted pursuant to Section 191.08(a) have been achieved. Grant recipients shall have twenty-four months from the date on which the Notice of Award issued in accordance with Section 191.09 is received to demonstrate that:
(1) The required number of eligible jobs attributable to the project for which assistance was granted have been created;
(2) Individuals have been employed to fill each eligible job relied upon to make the demonstration required by subsection (a)(1) hereof; and
(3) Wages, salaries and performance-based compensation payable to individuals employed in the eligible jobs relied upon to make the demonstration required by subsection (a)(1) hereof will, if maintained for twelve consecutive months, generate an aggregate annual payroll equal to or exceeding the amount required for payment of the granted assistance.
(b) No multi-year award shall be paid in any year subsequent to the year in which the first payment is made unless the eligible applicant to whom the award is granted demonstrates that:
(1) The minimum number of eligible jobs attributable to the project for which assistance was granted required by the ordinance adopted pursuant to Section 191.08(a) have been maintained throughout the previous twelve months; and
(2) The wages, salary and performance-based compensation paid to individuals employed in the eligible jobs relied on to make the demonstration required by subsection (b)(1) hereof equaled or exceeded the aggregate new annual payroll required by the ordinance adopted pursuant to Section 191.08(a).
(c) An award of Job Creation Incentive Program assistance that is not paid pursuant to subsection (a) hereof shall be deemed revoked. In the event of such revocation, the recipient may submit an application for Job Creation Incentive Program assistance reflecting the number of eligible jobs actually created and aggregate new annual payroll actually achieved from the date of receipt of the original Notice of Award to the date on which the new application is filed. Such application shall be filed no later than the 30th day following expiration of the 24 month period and shall be reviewed and approved or denied in the manner provided by this chapter for new applications.
(d) An award of Job Creation Incentive Program assistance that is not paid pursuant to subsection (b) hereof shall remain payable in any future year remaining under the terms of the original grant. The suspension of payment pursuant to subsection (b) hereof shall not result in an extension of the term of years for which the grant is made.
(Ord. 7000. Passed 11-25-08.)