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The purpose of the Industrial Electric Economic Development Program (IEEDP) to provide consideration to industrial rate consumers for an adjustment during a designated and approved period of time to the metered demand of electric consumption for the purposes of creating jobs and property capital investment within the Quakertown Community.

The administration of providing electric to industrial rate customers is a function of Borough and the management of the IEEDP requires policies and procedures to provide guidelines of the program so as to determine the qualifiers, methods of calculation, establishment of application, and to establish the accuracy of records and the review of annual qualification.

Qualifiers - All customers considered for the IEEDP must be registered Industrial Rate Customers (IS, IP). New customers seeking approval into the IEEDP must make application to the Utility Billing Department. The completed IEEDP application must include a fully executed affidavit of Capital Development/Improvement and the affidavit of Job Creation. The applicant must agree to and cooperate with the Borough's Electrical Engineer so as to ascertain the energy requirements to the property as well as the PIEEDP impact.

The program has two (2) tiers, and the applicant is required to meet each tier.

•Tier 1 - A new capital investment of a minimum of $250,000 exclusive of property or property acquisition costs and the creation and sustainability of at least ten (10) full-time employees will provide a seventy-five percent (75%) discount to the demand charge for a period of five (5) years.

•Tier 2 - A new capital investment of $1,000,000 exclusive of property or property acquisition costs and the creation and sustainability of at least forty (40) full-time employees will provide a seventy-five percent (75%) discount to the demand charge for a period of ten (10) year.

The IEEDP customers agrees to comply with the annual review and audit process as the program provides for an annual verification component of full-time employee staffing levels to maintain an active status. Customers may step in and step out of the program or the appropriate tier and apply their compliance time to an aggregate within the applicable tier.

The IEEDP customer must be in good standing and not be delinquent with any of the Borough provided utilities. A delinquency of sixty (60) days or more will cause a suspension from the program until such time the delinquency is remedied. Two (2) or more delinquencies within the tiered term will cause the IEEDP agreement to be null and void.

The IEEDP customer agrees that all business conducted will be that of a lawful business, and any unlawful activities on or associated with the property, business, owners, partners, or officers of the corporation will cause the agreement to be null and void.

The purpose of the IEEDP is to attract and maintain businesses and jobs to the Borough of Quakertown, and any use, behavior, business, or activity to the detriment of the Quakertown Community will be grounds for the IEEDP agreement to be null and void.

Borough Council reserves the right to qualify or disqualify any potential or existing IEEDP customer on the grounds of violations of any section or portion of the IEEDP.

The Borough of Quakertown's Administration and Utility Billing Department will administer and manage the IEEDP with fairness and equity, and provide professional level service to program participants. The Borough, within reason, will assist any potential or existing qualifying customer with all aspects of the IEEDP for the purposes to achieve active status or maintain active status and adhere to the generally accepted professional standards of utility services.

Existing Industrial Rate customers may qualify for the IEEDP if they add to the existing property by the minimal amount of capital investment in each tier and increase the number of full-time employees working at the existing property by the minimum qualifiers in each tier. Any existing property must increase or improve the minimum number of full-time employees over and above the maximum number of employees registered to the specific parcel within the Borough of Quakertown subdivision during the calendar year. Full-time employees shall be determined as defined in the Affordable Care Act.

The IEEDP will apply to a particular parcel if the parcel is owned by a single entity, that being a single person, partnership, or corporation. Any property divided and operated as a condominium will be considered a single entity per condominium and the IEEDP will only apply to those entities that qualify within their own right.

The Borough of Quakertown will provide a comprehensive record system to effectively operate the IEEDP at no additional charge to the IEEDP customer. This does not pertain to fees of any other inspection program or any program separate from the IEEDP, however, the Borough reserves the right to comingle administration responsibilities to other Borough programs that do charge fees.