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st <br /> beginning of the 1 Quarter of 2015 through and including the <br />th <br />4 Quarter of 2015 for activity at Recipient’s business at 301 E. <br />Main Street in La Porte, Texas (“Baseline Sales Tax Revenue <br />Amount” herein) as reflected in the Sales Tax Analysis and <br />Reporting Service (STARS Report for Quarter #4 of 2015). <br />In no case will the $40,000.00 payment be made by LPDC if written <br />proof of all aforementioned items is not delivered to and received by <br />LPDC by 31 October 2018. In the case that written proof of all <br />aforementioned items is presented to LPDC on or before said 31 <br />October 2018 deadline, the LPDC shall convene a meeting of the <br />LPDC Board of Directors for a date no later than forty-five (45) days <br />after receipt of proof by LPDC from Recipient. Upon verification of the <br />completion of all aforementioned items, as reflected by formal vote of <br />the LPDC Board of Directors that Recipient has satisfied the <br />requirements of this paragraph, LPDC will then remit the $40,000.00 <br />to Recipient within a period not to exceed thirty (30) days. <br />(2) For the twelve (12) month period beginning 1 July 2018 and ending 30 <br />June 2019 (Year #2 of Operation) the second annual installment of <br />$40,000.00 will be distributed to the Recipient by the LPDC, upon <br />receipt by the LPDC of all required items as outlined below, by 31 <br />October 2019: <br />a) Documentation evidencing that the total taxable value of all <br /> property of the Recipient at the Business Site, including <br />interests in all business personal property owned by the <br /> Recipient, as well as equipment and inventory, is assessed at <br /> a minimum value of one and a quarter million dollars <br />($1,250,000.00) by the Harris County Appraisal District for tax <br />year 2019; and <br />b) Proof of employment of at least one hundred (100) full-time <br />employees at the Business Site, which shall be established by <br />submission to LPDC, by the said deadline, of the following: <br />i. Copies of Recipient’s 941 Report to the Internal <br />Revenue Service and C3 Report to the Texas <br />Workforce Commission for each employee (but with <br />social security numbers of each employee redacted), <br />and <br />ii. A signed and notarized statement executed by and <br />authorized officer or director of the Recipient affirming <br />thatone hundred and forty (140) full time employees <br />are employed by Recipient for positions permanently <br />located at the Business Site; and <br />5 <br />13 <br /> <br />