5.0. EDSR 03-09-1998 - Laserfiche WebLink

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. JOB PERFORMANCE AGREEMENT THIS AGREEMENT, made on or as of the day of , 1998, by and between the Economic Development Authority In and For the City of Elk River, a public body corporate and politic (hereinafter referred to as the "Authority"), established pursuant to Laws of Minnesota 1947, Chapter 487, as amended, being Minnesota Statutes, 469.090-469.108, and having its principal office at 13065 Orono Parkway, Elk River, Minnesota 55330, and David P. Decker (hereinafter collectively referred to as the "Redeveloper"), having its principal office at WITNESSETH: WHEREAS, the Redeveloper and the Authority have entered into a Contract for Private Redevelopment dated as of , 1998, (the "Contract") pursuant to which the Redeveloper has agreed to construct an office\warehouse\manufacturing facility of at least 25,000 square feet within the City of Elk River,Minnesota; and WHEREAS, in order to induce the Redeveloper to undertake such development, the Authority has agreed in the Contract to provide certain financial assistance to the Redeveloper through its payment of certain costs of site development and preparation of the property on which • the development will occur; and WHEREAS, Minnesota Statutes, section 116J.991, provides that a government agency that provides financial assistance for economic development job growth purposes must establish job and wage goals to be met by the businesses receiving the assistance; and WHEREAS, the Authority and the Redeveloper agreed in the Contract that they would enter into a Job Performance Agreement to document their understandings as to the job and wage goals to be met by the Redeveloper with respect to its development; and WHEREAS, the Authority and the Redeveloper desire that this Agreement serve as the agreement referenced in the Contract. NOW, THEREFORE, in consideration of the premises and the mutual obligations of the parties hereto, each of them does hereby covenant and agree with the other as follows: C-2