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FROM GRAY PLANT MOOTY MOOTY & BENNETT (#3) (FRI) 7. 9. 99 9:47/ST. 9:28/NO. 4261218754 P 44 <br /> "Authority" means the Economic Development Authority In and For the City of Elk <br /> • River,or any successor or assign. <br /> "City"means the City of Elk River. <br /> "Contract" means the Contract for Private Redevelopment between the Authority and the <br /> Redeveloper dated as of, 199_. <br /> "Improvements" means the construction by the Redeveloper of <br /> pursuant to the Contract. <br /> "Permanent Full-Time Employment Position" means the employment of a person who is <br /> eligible to receive any health, pension or other benefits provided according to the personnel or <br /> employment policies of the his/her employer, or through a collective bargaining agreement with <br /> the Redeveloper or its tenants, and whose wages as the term is defined are based upon the <br /> employee working approximately thirty(30)hours a week. <br /> "Redeveloper" means, collectively, , or its successors, <br /> executors or assigns, or any future owners of the Redevelopment Property. <br /> "Redevelopment Property"means the real property described as such in the Contract. <br /> "State"means the State of Minnesota. <br /> • ARTICLE II <br /> Job and Wage Goals <br /> Section 2.1. Employment Requirements. The Redeveloper agrees that it will employ at <br /> least persons in Permanent Full-Time Employment Positions in the Improvements, and that <br /> it will cause to be created by itself or its tenants with respect to the Redevelopment Property and <br /> the Improvements at least Permanent Full-Time Employment Positions. Such new <br /> positions shall be created, through the actual employment of individuals, no later than two (2) <br /> years after the substantial completion of the Improvements pursuant to the terms of the Contract. <br /> Section 2.2. Wage Requirements. The new Permanent Full-Time Employment Positions <br /> required to be created pursuant to Section 2.1 shall be paid an average wage of no less than <br /> $ per hour. <br /> Section 2.3. Monitoring. The Redeveloper agrees that it will provide, upon request by <br /> the Authority, documentation reasonably required by the Authority to document Redeveloper's <br /> compliance with the provisions of this Agreement. <br /> Section 2.4. Continuing Obligation. The Redeveloper's obligations under this <br /> Agreement shall be continuing,and the Redeveloper shall cause the employment and wage levels <br /> • to be maintained for a period of at least one (1) year from the date that the Redeveloper is first <br /> obligated to achieve the employment and wage levels. <br /> D-3 <br />