Draft CPD sets terms for PSBX land conveyance

$78,400.00 (forgivable loan amount)

FACILITIES

Job creation goals to be met within 2 years after the Benefit Date; operations and job levels to be maintained for at least 1 additional year; continuous operation requirement for 5 years after Benefit Date

Financial assistance is forgiven once job and wage goals are met within two years of the Benefit Date and maintained for at least one year; failure to comply requires pro rata repayment with interest and may bar new business subsidies for five years. Upon full compliance with Sections 7.2 and 7.5, the Owners will record a termination of the agreement and satisfaction of the Owners Mortgage.

AgendaPacket