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TOA (USA) Project Commitments <br /> Page 2 <br /> <br /> 8. Training Assistance: Commission will provide TOA with up to $150,000, as <br /> follows: <br /> / <br /> $50,000 when employment level reaches 50 (expected by end of 2002) ~d,~/ <br /> $50,000 when employment level reaches 100 (expected by end of 2003)P,~. <br /> $50,000 when employment level reaches 150 (expected by end of 2004)p~d <br /> <br /> STATUS: TOA surpassed the 50 employees in May 2002; $50,000 paid 6/04/02 <br /> <br /> TOA surpassed the 100-employee level in June 2003; $50,000 paid <br /> 8/25/03 <br /> <br /> 9. Reimbursement for purchase of equipment and/or interest payments, as <br /> follows: <br /> <br /> Year of Operation Equipment/Interest Exp. Annual Reimburserttt <br /> 2002 $15,000,000 $ 100,000 Jori- <br /> 2003 $20,000,000 $150,000 <br /> s25,ooo,ooo s15o.ooo <br /> 2004 <br /> 2005 s o,ooo,ooo s 5o,ooo <br /> :oo ,,o,ooo,ooo <br /> <br />STATUS: First payment orS100,000 made 5-13-03. TOA has exceeded the amount <br />committed through 2006. At the time the first disbursement ,,vas made, TOA officials <br />were told a payment would be made each year following their submission ofthe <br />Compliance Form to the Town Council. The CF-1 Form is submitted annually in March. <br /> <br />Estimated Cash Flow for TOA Project 2002 through 201 I, as estimated by H. J. <br />Umbaugh & Assoc., is attached <br /> <br />Updated October 20, 2003 <br /> <br /> <br />