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Job Counting per HUD

Job Counting per HUD. Power Point Liberation Front. Economic development projects typically fall under Low/Mod Job Creation/Retention 51% of jobs must be for LMI persons Based on family income, not salary of the job Full-Time-Equivalent, and permanent positions 2 half-time jobs = 1 FTE

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Job Counting per HUD

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  1. Job Counting per HUD

  2. Power Point Liberation Front

  3. Economic development projects typically fall under Low/Mod Job Creation/Retention • 51% of jobs must be for LMI persons • Based on family income, not salary of the job • Full-Time-Equivalent, and permanent positions • 2 half-time jobs = 1 FTE • Not construction/spin-off/indirect jobs • Seasonal jobs OK if the person’s principal source of yearly income

  4. Count all jobs created as direct result of CDBG $$$ • Cannot stop counting at specified time or planned number of jobs • Count first person to take position, not turn-over • LMI based on current income not salary of created job

  5. Documenting Job Creation • When “available to” LMI Individuals • Written agreement with business with listing of job titles, descriptions, FTE status and prerequisites/skills required • Description of actions taken, how first consideration given to LMI, hiring process, names of persons interviewed, income status of persons interviewed

  6. Documenting Job Creation • When “taken by” LMI Individuals • Written agreement with business listing of job titles and FTE status • Listing of job titles filled • Name and Income status for each person hired

  7. Documenting Job Retention • Evidence that jobs would be lost w/out CDBG • For retained jobs held by LMI persons Job title, FTE status, household size and income of each LMI person

  8. Affirmative Covenants in Loan Agreements • Number of jobs (10 jobs, at least 6 must be made avail to LMI persons) • As soon as available but in no event later than twenty-five days after the end of each quarter, Borrower’s balance sheet and P and L • True and correct copies of the employer’s Quarterly Wage Detail Report filed with the Minnesota Department of Jobs and Training

  9. First Source Hiring Agreement • In constructing improvements to the premises and in hiring new or replacement employees required by Section xxx, borrower agrees to participate in the first source program administered by RCJT and to comply with the First Source hiring guidelines in the form f Exhibit B

  10. Event of default if borrower fails to perform any covenant contained herein.

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