State of Tennessee Economic Development officials have written Chattanooga Volkswagen, saying certain reports required from VW relating to state grants have not been submitted.
The letter says the reports must be submitted within 30 days or Volkswagen could face "repayment obligations."
Volkswagen has received over $800 million in grants from federal, state and local governments in connection with its plant at the Enterprise South Industrial Park at Tyner.
The city Industrial Development Board is set to discuss the issue at a meeting on Monday at 11 a.m. at the City Council chambers at 10th and Lindsay.
This is the letter:
Director Volkswagen Group of America Chattanooga Operations, LLC: Notice Letter
Dear Ian Leavy: This letter is to inform you that the following reports are past due under the terms of that certain FastTrack Economic Development Program Memorandum of Understanding dated July 14, 2014, by and between the Tennessee Department of Economic and Community Development, the Industrial Development Board of the City of Chattanooga, and Volkswagen Group of America Chattanooga Operations, LLC (“Accountability Agreement”): revised Interim Performance Reports and supplemental documentation.
Baseline Reports are due on or before the 60th day following the Accountability Agreement’s Effective Date. Performance Reports are due on or before the 60th day following each anniversary of the Accountability Agreement’s Start Date. Volkswagen Group of America Chattanooga Operations, LLC must submit the reports listed above with all supporting documentation to ECD within 30 days of receipt of this letter.
Please send the reports and supporting documentation to ECD.Legal@tn.gov and include “Volkswagen Group of America Chattanooga Operations, LLC” in the subject line. Failure to submit complete and accurate revised reports within 30 days of receipt of this letter may result in repayment obligations under the Accountability Agreement.
If you have any questions or need assistance, please contact me at your earliest convenience.
Sincerely,
Garrett Guillory Director of Contracts