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The IDA sent a compliance letter to the 16-18 North Main Street project over a shortfall in pledged job creation and is awaiting a response by the end of April. The agency expects to review the response in May and added a project-monitoring acknowledgment to future financial-assistance applications.
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The agency is checking whether a project created the number of jobs promised when it received assistance. It expects to continue monitoring the project while downtown demolition and construction affect conditions. The board did not change its policy on investor assignments, but authorized counsel to research how other IDAs charge assignment fees before revisiting the issue.
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