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0 <br />ATTACIIA1ENT r) <br />TO AGREEMENT BEITWFLiN <br />COUNTY OF L_EF. <br />AND <br />LEE COUNTY ECONOMIC DEVELOP\,IENI' CORPORATLOi\T <br />DESCR[PTION OF PROJECT AND fNCENTIVES <br />The Project: Development of an Administrative Building owned by <br />Wyeth in Lee County Industrial Park, Lee County, N.C. The Company <br />will construct at least a 180,000 square foot facility and will have a <br />cumulative initial ad valorem taxable value (prior to depreciation) of at <br />least $50,000,000.00 and will result in the retention and creation of a <br />substantial number ofjobs. <br />2. The Incentive: Estimated costs of the financial incentives for the project <br />are - <br />• <br />Site preparation <br />Lee County's share <br />$911,858.00 <br />$911,858.00 <br />This contract covers the County of Lee's share of the incentives described above. <br />It is anticipated that the incentives will be paid out as follows: <br />FISCAL YEAR <br />AMOUNT <br />PAYMENT DATE <br />2008 <br />-2009 <br />$ 59,250.00 <br />January 15, 2009 <br />2009 <br />-2010 <br />$213,152.00 <br />January 15, 2010 <br />2010 <br />-2011 <br />$213,152.00 <br />January 15, 2011 <br />2011 <br />-2012 <br />$213,152.00 <br />January 15, 2012 <br />2012 <br />-2013 <br />$213,152.00 <br />January 15, 2013 <br />• <br />14 of 16 <br />