Laserfiche WebLink
061 <br />® TO THE AGREEMENT BETWEEN <br />THE LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION <br />AND <br />SCORE ENERGY <br />STATE OF NORTH CAROLINA ) AGREEMENT FOR THE GRANT <br />OF CITY OF SANFORD <br />FUNDS <br />COUNTY OF LEE ) <br />THIS GRANT AGREEMENT, made and entered into as of the day <br />of , 2009, by and between the City of Sanford, a municipal corporation <br />of the State of North Carolina (hereinafter referred to as the "CITY"), and Lee <br />County Economic Development Corporation, a North Carolina non-profit <br />corporation (hereinafter referred to as the "LCEDC"); <br />WITNESSETH: <br />WHEREAS, LCEDC has requested funds for_ incentives for, an economic <br />development project by Score Energy, a limited-liability company located in the <br />City of Sanford, Lee County, North Carolina, for a project to consist of the <br />development of a metal machining facility by the Company on property owned by it <br />on Tramway Road in the City of Sanford, Lee County, North Carolina, which will <br />consist of a building containing not less than 180,000 square feet and the land, <br />building, and equipment will have an additional initial ad valorem taxable value <br />(prior to depreciation) of at least <br />$2,500,000.00 and will provide additional employment when fully operational; and <br />WHEREAS, the City proposes to appropriate funds to pay said incentives <br />as follows: <br />FISCAL YEAR <br />2010-2011 <br />2011-2012 <br />2012-2013 <br />2013-2014 <br />2014-2015 <br />11 <br />AMOUNT <br />PAYMENT DATE <br />$5,673.20 <br />January <br />15, 2011 <br />$5,673.20 <br />January <br />15, 2012 <br />$5,673.20 <br />January <br />15, 2013 <br />$5,673.20 <br />January <br />15, 2014 <br />$5,673.20 <br />January <br />15, 2015 <br />NOW, THEREFORE, in consideration of the above, the parties do hereby <br />agree as follows: <br />16 of 25 <br />