Kan. Admin. Regs. § 110-21-4 - Agreement
(a) If an applicant
meets the eligibility requirements and is approved by the secretary, the
applicant shall be considered to be a qualified company. An agreement may be
entered into by the secretary as to the terms and conditions by which the
qualified company may receive benefits.
(b) The agreement shall be on a form
prescribed by the department and, in addition to the requirements of the act,
shall include the following:
(1) A description
of the project;
(2) the length of
the benefit period;
(3) the number
of PEAK jobs, including projected PEAK jobs' median wage;
(4) the quarterly and annual reporting
requirements;
(5) the agreement
date;
(6) the county median wage
for the business facility on the date the application is received by the
department;
(7) an acknowledgement
that the qualified company is ineligible to participate in other economic
programs as listed in the act;
(8)
the terms of default and conditions of repayment;
(9) a condition that the qualified company
has one year from the agreement date to establish in writing an effective
date;
(10) a condition that the
qualified company shall satisfy program eligibility requirements and pay an
average annual PEAK jobs' median wage greater than the county median wage in
order to remain eligible for program benefits;
(11) a condition that the qualified company
has two years from the agreement date to fill the minimum number of PEAK jobs
necessary for program eligibility;
(12) a condition that the benefit period may
be extended if the qualified company pays an average annual PEAK jobs' median
wage of at least 110 percent as compared to the county median wage on the
agreement date for each year that the company is in the program; and
(13) an acknowledgement that the qualified
company receiving high-impact benefits that fails to create 100 or more jobs
within two years of the agreement date shall have its benefit period reduced
accordingly.
Notes
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