Agenda - 1-3-17 Reg. Meeting - Laserfiche WebLink

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08 Public Hearing Notice For Publication on Friday, December 23, 2016 The Lee County Board of Commissioners proposes to participate in the cost of six economic development projects: • Project Driveline, which consists of the purchase of machinery, equipment and - Project Sandman, which building renovation in the consists of the construc- amount of $37.2 million dol- tion of a facility and the pur- lars and hiring of 66 new chase of equipment in the employees over the 5 year amount of $56.5 million and life of the project. The Board the hiring of 46 new employ - intends to consider invest- ees over the 5 year life of ing up to $512,238 of the the project. The Board in - cost of the project with rev- tends to consider investing enues from the County's up to $638,783 of the cost of General Fund. the project with revenues - Project Seal, which con- from the County's General sists of the purchase of ma- Fund. chinery, equipment and - Project Circular, which building renovation in the consists of operating a amount of $865,000 and hir- leased facility and the pur- ing 15 new employees over chase of equipment in the the 24 month life of the amount of $1.9 million and project. The Board wHl con- the hiring of 63 new employ- sider investing up to $3,750 ees over the 5 year life of from the County's General the project. The Board in - Fund as a 5% match for a tends to consider investing $75,000 Building Reuse up to $27,944 of the cost of grant from the NC Depart- the project with revenues ment of Commerce. from the County's General • Project Hummingbird, Fund. which consists of operating All of the above mentioned a leased facility and pur- projects will stimulate the chasing equipment in the local economy, promote ad - amount of $71.75 million ditional business and result , and the hiring of 104 new in the creation of direct and employees over the 5 year indirect jobs and increased =life of the project. The Board payroll. ' intends to consider invest- A public hearing on these ing up to $606,188 of the proposed economic devel- cost of the project with rev- opment incentive invest- , enues from the County's ments will be held on Tues - General Fund. day, January 3, 2017 at 6:00 - Project Dogwood, which PM, or as soon thereafter as consists of the construc- the matter can be reached tion of a facility and the pur- on the meeting agenda. The , chase of equipment in the hearings will take place in amount of $6.25 million and the Commissioners Room, the hiring of 147 new em- First Floor, Lee County Gov- ' ployees over the 5 year life ernment Center, 106 of the project. The Board in- Hillcrest Dr., Sanford, NC. tends to consider investing up to $54,398 of the cost of All interested persons are the project with revenues invited to attend and present their views. from the County's General Fund.