Laserfiche WebLink
BK 00026 PG <br />LEE COUNTY <br />South Base of the Re search Triangle Region <br />Level Qne <br />Investment <br />Threshold <br />New <br />Jobs <br />Incentive Grant Period <br />New Business <br />$3 Million <br />10 <br />5 Years: 75 %, 60 %, 50 %, <br />50 %, <br />50% <br />Existing <br />Business <br />$1 Million <br />10 <br />5 Years: 75 %, 60 %, 50 %, <br />50 %, <br />50% <br />New Business <br />$20 Million <br />20 <br />5 Years: 75 %, 60 %, 60 %, <br />50 %, <br />50 %, <br />Existing <br />Business <br />$10 Million <br />20 <br />5 Years: 75 %, 60 %, 60 %, <br />50 %, <br />50 %, <br />7. Financial incentives will not be paid in advance of business investment or job <br />creation in Sanford -Lee County. <br />8. Requests for public infrastructure which benefit the business and the entire community <br />may be considered as an alternative to or in combination with a financial incentive. <br />9. All financial incentives shall be paid pursuant to a written financial incentive agreement <br />between Sanford- Lee County and the recipient business. Provisions shall be included in <br />every financial incentive agreement to ensure the County pursuant to NCGS 158- 7.1(h), <br />recaptures sums appropriated or expended by the County in the event the business fails to <br />adhere to its job creation, investment and continuous operations agreements at any time <br />during the contract period. <br />10. Clawback provisions may include termination of the contract, proration of future <br />cash payouts, and/or repayment of financial incentives already issued to a business. <br />NORTH CAROLINA, LEE COUNTY <br />Presented for registration on this S te ` — day <br />of :5-e, b . 20, at Q : d o <br />recorded in Book (- Page 3 33 <br />Mollie A. McInnis, Register of Deeds <br />Economic Development Corporation <br />P.O. Box 1968 • Sanford, NC 27331 -1968 • Phone: 919.774.8439 • Fax: 919.775.5410 • info@lcedc.com <br />