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014 <br />LEE COUt- <br />Committed Today for a Better Tomorrow <br />LEE COUNTY BOARD OF COMMISSIONERS <br />ITEM ABSTRACT <br />Meeting Date: January 6, 2014 <br />ITEM NO. IV. A. <br />_ Information <br />XX Action Item & Public Hearing <br />Consent Agenda <br />SUBJECT Public Hearing and Approval of Loan to Kitzpak <br />DEPARTMENT Administration <br />CONTACT PERSON John Crumpton, County Manager <br />REQUEST Hold a Public Hearing and Approve Loan Agreement for <br />a $150,000 zero interest loan. <br />SUMMARY A public hearing has been advertised for the January <br />6th meeting to consider a $150,000 zero interest loan <br />for building renovation and infrastructure improvements <br />for Fitzpak, a thermoforming plastic packaging <br />company looking to expand in Lee County. If approved, <br />the loan will support a $4 million investment in <br />machinery and equipment and the creation of 50 new <br />jobs in the County. <br />BUDGET IMPACT <br />$150,000 — Golden Leaf Revolving Loan Fund <br />ATTACHMENT(S) (1) Public Hearing Notice from December 27th Sanford <br />Herald, and <br />(2) Loan Agreement (to be provided prior to meeting) <br />PUBLIC HEARING Yes <br />PRIOR BOARD ACTION N/A <br />RECOMMENDATION Conduct public hearing as advertised for this date and <br />time <br />