City Attorney Phil Noblett on Monday said Volkswagen is now fully in compliance with state reporting requirements dealing with state grants for the assembly plant at Enterprise South Industrial Park.
The state Economic Development Department on Nov. 26 informed VW by letter, saying certain reports required from VW relating to state grants had not been submitted.
The letter said the reports must be submitted within 30 days or Volkswagen could face "repayment obligations."
Attorney Noblett told members of the city Industrial Development Board that he followed up with the attorney for Volkswagen. He said on Dec. 18 he was advised by the state that VW was in full compliance.
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.
This is the letter sent to VW:
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