2001 - 05-21-01 Regular Meeting - Laserfiche WebLink

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Ci,3'( i~ F'GE s19® proposes to participate in the cost of an economic development project with the Lee County Economic Development Corporation, which consists of participation in the cost of site preparation at a site located in Lee County for the expansion of a manufacturing facility by Wyeth Lederle Vaccines. The 30,000 square feet expansion will be an investment of at least $85,000,000.00. The Board of Commissioners is being asked to share up to $1,353,413.00 of the cost of site preparation with revenues coming from the Lee County General Fund. No one other than Mr. Heats spoke in favor of the project. No one spoke in opposition to the project. Chairman Hincks closed the public hearing. Commissioner Paschal moved to approve incentives with the Lee County Economic Development Corporation in the amount of $393,825.00 for GKN Precision Forming and $1,353,413.00 for Wyeth Lederle Vaccines. Upon a vote, the results were as follows: Aye: Adams, Hincks, Lemmond, Matthews, Paschal, Reives, and Sauls Nay: None The Chairman ruled the motion had been adopted unanimously. The meeting recessed to the Wicker Conference Room for a Budget Work Session at this time. Chairman Hincks called the meeting to order, with all Commissioners present. County Manager William Cowan reported the following savings since the last meeting: Workers' compensation savings S115,000 Group health insurance savings 113,000 Property and liability insurance savings 10,000 Additional revenue from the City of Sanford for tax collections 43,240 Reduction in State Public School Building Fund proceeds 24,000 Reduction in DARE officer revenues 1,348 Reduction in In Lieu of Taxes due to population changes 20,000 Reduction in cost of Fire Departments' workers' compensation 2,000 Reduction in travel cost in Commissioners' budget 2,475 G0 7