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6 cK rA.ct ? 11 SOUK 23 mi 732 <br />RESOLUTION BY THE LEE COUNTY BOARD OF COMMISSIONERS <br />ECONOMIC DEVELOPMENT INVESTMENT GUIDELINES <br />June 21, 2010 <br />WHEREAS, Chapter 158 of the General Statutes of North Carolina <br />authorizes counties to engage in economic development activities; and <br />WHEREAS, North Carolina General statute 153A-449 authorizes counties <br />to contract with and appropriate money to a comoration to cam out any public <br />purpose that a County is authorized by law to perform; and <br />WHEREAS, it is the sense of the Board of Commissioners for Lee County <br />that the County should engage in economic development activities and that the <br />LCEDC should be employed to undertake such activities on behalf of the County; <br />and <br />WHEREAS, LCEDC, by action of its Board of Directors, has indicated its <br />willingness to perform such activities on behalf of the County; and <br />WHEREAS, under the authority of NCGS 158-7.1, the Board of <br />Commissioners desires to establish an Economic Development Investment <br />Policy that gives the LCEDC the flexibility and tools to remain competitive so as <br />to attract new industry and retain existing businesses; <br />NOW, THEREFORE, be it resolved that the County adopts the following <br />Economic Development Investment Policy; <br />BE IT FURTHER RESOLVED, that it is Lee County's desire to make <br />public investments to stimulate economic development. Businesses may receive <br />benefits under this policy which allow them to locate or improve their operations <br />in Lee County. Incentive Grants will be awarded based on the benefits to Lee <br />County and its citizens and reviewed on a case by case basis by both the <br />LCEDC and the Lee County Board of Commissioners. <br />T <br />By: j <br />Richard B. Hayes, Chat a <br />Board of Commissioners <br />