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9 3u0X i9. NCE J <br />RESOLUTION AUTHORIZING THE EXPENDITURE OF FUNDS <br />FOR AN ECONOMIC DEVELOPMENT PROJECT <br />AND APPROVING AN AGREEMENT WITH THE <br />LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION <br />(Meikle EMS Automation Project) <br />WHEREAS, notice of a public hearing was published that the County of Lee <br />proposed to participate in an economic development project with the Lee County <br />Economic Development Corporation which consists of participation in the cost of the <br />renovation of an existing building, construction of a new 15,000 square foot building, site <br />preparation, extension of utility lines and training of employees at the company's <br />industrial site on Hawkins Avenue at the Deep River Road intersection in Lee County; <br />and <br />WHEREAS, Meikle EMS Automation project on the site will represent an <br />investment by Meikle EMS Automation of at least two million five hundred and eighty <br />thousand dollars (S2,580,000) and will create at least thirty (30) new jobs in the County <br />of Lee. <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of <br />the County of Lee that the board finds that the project will stimulate the local economy, <br />promote business, and result in the creation of a number of jobs in the county; and <br />estimates that the County will recover it's consideration for the project within five (5) <br />years or less taking into account prospective tax revenues from improvements to be <br />constructed on the property, sales tax revenues generated in the area, as well as other <br />perspective tax revenues or income coming to the County as a result of the project. <br />BE IT FURTHER RESOLVED by the Board of Commissioners of the County <br />of Lee that it hereby approves the attached agreement between the County of Lee and Lee <br />County Economic Development Corporation for the grant of incentive funds and the <br />Chairman and Clerk to the Board is hereby authorized to execute t cement on behalf <br />of the County. <br />Herbert A. Hincks, Chairman <br />Lee County Board of Commissioners <br />ATTEST: <br />`GayAell . Lee, Clerk <br />