2010 - 06-07-10 Regular Meeting - Laserfiche WebLink

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bou 23 FA6E 458 The Chairman ruled the motion had been adopted unanimously. At this time the Board held a public hearing to hear comments from the public in reference to an economic development project between the Lee County Economic Development Corporation and Challenge Printing Company. Economic Development Director Bob Heuts discussed the project which consists of the construction of a manufacturing facility located in the Lee County Industrial Park which will consist of a building containing not less than 30,000 square feet and equipment for a $4 million project. If approved, Lee County would be asked to appropriate funds to pay incentives in the amount of $12,615.00 per year over a five-year period beginning January 2012. Chairman Hayes opened the public hearing that had been advertised for this date and time. The following spoke in favor of the above-referenced project: (1) Mr. Bob Heuts, on behalf of the Lee County Economic Development Corporation The following spoke in opposition to the project: (1) Mr. Russell Noel, 1413 Cherokee Trail, Sanford Chairman Hayes closed the public hearing. Chairman Hayes moved to approve the Resolution Authorizing the Expenditure of Funds for an Economic Development Project and Approving an Agreement with the Lee County Economic Development Corporation and Challenge Printing Company, a copy of which is attached to these minutes and by this reference made a part hereof. Upon a vote, the results were as follows: Aye: Dalrymple, Hayes, Kelly, Oldham, Paschal, and Reives Nay: Shook The Chairman ruled the motion had been adopted by a six to one vote. The Board held a public hearing to hear comments from the public in reference to an economic development project between the Lee County Economic Development Corporation and Axxor manufacturing company. Economic Development Director Bob Heuts discussed the project which consists of retrofitting space and the cost of new machinery for the Company on property leased by it in Lee County, North Carolina, which will have a cumulative initial ad valorem taxable value of at least $5 million and will provide new employment. If approved, Lee County would be asked to appropriate funds to pay incentives in the amount of $14,133.75 per year over a five-year period beginning January 2012. The City of Sanford will also be asked to participate in this project since the facility will be located within the city limits. Chairman Hayes opened the public hearing that had been advertised for this date and time. The following spoke in favor of the above-reference project: (1) Mr. Bob Heuts, on behalf of the Lee County Economic Development Corporation (2) Mr. Keith Clark, 212 Acorn Drive, Sanford No one present spoke in opposition to the project.