(a) No award shall be paid until the minimum job creation and aggregate new annual payroll requirements of the ordinance adopted pursuant to Section 162.08(a) have been achieved. Grant recipients shall have six (6) months from the beginning of the calendar year following the calendar year which such eligible jobs were maintained to demonstrate that during the previous twelve (12) months:
(1) The required number of eligible jobs attributable to the project for which assistance was granted have been created;
(2) The individuals have been employed to fill each eligible job relied upon to make the demonstration required by division (a)(1) of this Section; and,
(3) The wages, salaries, and performance-based compensation payable to individuals employed in the eligible jobs relied upon to make the demonstration required by division (a)(1) of this Section have generated an aggregate annual payroll equal to or exceeding the amount required for payment of the granted assistance.
(b) An award of Job Creation Incentive Program assistance that is not paid pursuant to subsection (a) of this Section 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 six (6) month period and shall be reviewed and approved or denied in the manner provided by this Chapter for new applications.
(c) An award of Job Creation Incentive Program assistance that is not paid pursuant to division (b) of this Section shall remain payable in any future year remaining under the terms of the original grant if the requirements are subsequently met. The suspension of payment pursuant to subsection (b) shall not result in an extension of the term of years for which the grant is made.
(Ord. 1900. Passed 8-11-16.)