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BK:00025 PG:0555 <br />014 <br />for the program of work to be carred out. All future funding decisions will be subject to <br />board approval of the respective funding partners. <br />• The EDC recommends retaining Creative EDC for interim services through December <br />31, 2013 with renewal options thereafter depending on how the deadlines are met. <br />6. Incentive Policy <br />In order for the New Economic Development Organization to <br />operate in good faith with <br />Prospective <br />employers it is agreed that the City of Sanford, Lee County and the Town of <br />Broadway will adopt and present to this new organization their respective incentive <br />Policies. It is acknowledged that each governing body has flexibility if desired on a case <br />by case basis. These policies will provide the guiding principles in this area for this new <br />organization. <br />7. Timeline <br />During the timeline below, the new economic development organization will be formed <br />and the framework developed parallel to the planning process. <br />May 2013 Initiate New Organization Pro <br />Process with a first draft due �� Work Planning <br />June , 2 13 Coun strafe 'c Tannin rocess com lete. <br />July 1, 2013 Receipt of incentive and economic <br />Local Government Boards growth policies from <br />November 30, 2013 Com lete Program of Work and submit for vat <br />January 1, 2013 Submit New Economic Development Organization for <br />January 1, 2013 <br />Case Statement Development and planning for Capital <br />March 1, 2014 <br />March 1, 2014 <br />Cam ai Starts <br />Capital Cam ai Tannin Com feted <br />New Economic Development Corporation <br />rporation starts with fully <br />March 1, 2014 <br />ved Plan of Work. <br />Initiate Lee County Economic Development <br />Capital <br />Cam ai <br />October 31, 2014 <br />Capital Campaign Complete and initial pledges start to be <br />funded. <br />4 <br />