Kentucky Revised Statutes Title XII. Conservation and State Development § 154.34-080.Reinvestment agreement; terms and provisions

(1) That the authority may employ an independent consultant or utilize technical resources to verify the cost of the project, and that the approved company shall reimburse the authority for the cost of a consultant or other technical resources employed by the authority;

(2) The maximum approved costs that may be recovered, and that the amount of incentives allowed in any year shall not exceed twenty percent (20%) of the total amount of the approved costs;

(3) A set employment retention goal, which shall be at least eighty-five percent (85%) of the number of full-time employees employed at the facility on the date the company receives preliminary approval;

(4) That approval of the company is not a guarantee of incentives and that eligibility for incentives shall be contingent on the approved company meeting the requirements established by the reinvestment agreement and this subchapter;

(5) The term of the reinvestment agreement, which shall not be longer than the earlier of:

(6) That the authority may reduce the incentives, suspend the incentives, or terminate the agreement if the approved company fails to comply with provisions of the reinvestment agreement;

(7) That both the authority and the department shall have the right to pursue any remedy provided under this reinvestment agreement and any other remedy at law to which it may be entitled;

(8) That the approved company shall make available to the department and the authority all of its records pertaining to the reinvestment project, including but not limited to payroll records, records relating to the expenditure of eligible equipment and related costs, and approved costs, and any other records pertaining to the project as the authority or the department may require;

(9) That the authority may share information with the department for the purposes of monitoring and enforcing the terms of the reinvestment agreement;

(10) That the agreement shall not be transferred or assigned by the approved company without the expressed written consent of the authority; and

(11) Any other provisions not inconsistent with this subchapter and determined to be necessary or appropriate by the parties to the reinvestment agreement.