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

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BOOK 23 FAGt 459 Chairman Hayes closed the public hearing. Commissioner Reives moved to approve a Resolution Authorizing the Expenditure of Funds for an Economic Development Project and Approving an Agreement with the Lee County Economic Development Corporation and Axxor, LLC, 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 Parkdale America, LLC. Economic Development Director Bob Heuts discussed the project which consists of installing additional machinery for the Company on property owned by it at 1921 Boone Trail Road, Sanford, which will consist of installing equipment which will have a cumulative initial ad valorem taxable value of at least $4.3 million and will provide additional employment opportunities. If approved, Lee County would be asked to appropriate funds in the amount of $11,803.50 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 No one present spoke in opposition to the project. Chairman Hayes closed the public hearing. Commissioner Kelly moved to approve Resolution Authorizing the Expenditure of Funds for an Economic Development Project and Approving an Agreement with the Lee County Economic Development Corporation and Parkdale America, LLC, 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 Caterpillar. Economic Development Director Bob Heuts discussed the project which consists of a building containing not less than 250,000 square feet and the land, building, and equipment will have a cumulative initial ad valorem taxable value of at least $31 million and will result in the retention and creation of up to 322 additional jobs. If approved, Lee County would appropriate funds to pay said incentives in the amount of $900,000.00 in August 2010.