Charitable Fee. As consideration for the County agreeing to enter into this Agreement in advance of Project commencement by Intel, Intel will pay $100,000.00 annually for six (6) consecutive years, commencing on the execution date of this 2014 SIP Agreement and each July 1 thereafter. This obligation applies regardless of whether Intel receives a SIP property tax exemption under this 2014 SIP Agreement for any of those years. These funds shall be earmarked for public or private non-profit organizations fulfilling a public purpose in Washington County. The County Administrator shall select the eligible recipient(s) subject to Intel’s prior approval for consistency with Intel’s Code of Conduct and any other applicable policies.
Appears in 2 contracts
Sources: Strategic Investment Program Agreement, Strategic Investment Program Agreement