(A) The qualifying entity shall enter into a project participation agreement with Valencia County.
(B) Public support provided for an economic development project shall be in exchange for a substantive contribution from the qualifying entity. The contribution shall be of value and may be paid in money, in-kind services, jobs, expanded tax base, property or other thing or service of value for the expansion of the economy.
(C) The qualifying entity shall provide security to entity's obligations based on terms stated in the project participation agreement and pursuant to the Act.
(Ord. 2021-05, passed 12-1-2021)