2000 - 07-10-00 Regular Meeting - Laserfiche WebLink

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005 BON 18 P !CE V9 The Board considered a voting delegate for the County Commissioner Association's annual conference that will be held in Durham on August 10-13, 2000. Chairman Hincks nominated Commissioner Hubert Garner as the voting delegate for Lee County. Upon a vote, the results were as follows: Aye: Adams, Garner, Hincks, Matthews, Paschal, Reives, and SaLlls Nay: None The Chairman ruled the motion had been adopted unanimously. The Board considered a request firom the Tramway Volunteer Fire Department to have a caution light placed on US #1 South at the entrance to McDaniel Drive. Fire Chief Scott Holt told the Board that numerous requests had been submitted to the North Carolina Department of Transportation to have a flashing caution light placed at the entrance to McDaniel Drive (SR 1197) south of Tramway. According to the Department of Transportation, the (ire department "did not satisfy the policy requirements for installation of the requested traffic control device." Mr. Holt told the Board that it sometimes takes 3 to 5 minutes for fire vehicles to enter US #1 because traffic will not stop. After some discussion, Commissioner Matthews moved for the fire department to compose a letter, to be signed by Chairman Hincks, to the North Carolina Department of Transportation, requesting that a flashing caution light be placed on US #1 South at the entrance to McDaniel Drive (SR 1197). The letter will be forwarded to the Sanford City Council for approval, since a section of the Tramway community is in the city limits. Upon a vote, the results were as follows: Aye: Adams, Garner, Hincks, Matthews, Paschal, Reives, and Sallls Nay: None The Chairman ruled the motion had been adopted unanimously. The Board considered an amended agreement between the Lee County Economic Development Corporation (LCEDC) and Frontier Jet Spinning, LLC. Economic Development Director Bob Heuts told the Board that the County entered into an agreement on April 8, 1998 with the Lee County Economic Development Corporation for incentives totaling 5683,778.00 to be paid at the rate of $136,775.60 annually over a 5-year period to Frontier Jet Spinning. Frontier Jet Spinning was to make an initial investment of at least 532,680,523.00 by January 1, 1999. This was to be increased by at least $15,000,000.00 by January 1, 2000. The addition of a new building was delayed, but is now under construction. Frontier Jet Spinning is now asking that the deadline for the addition be extended to January 2, 2001, that the payment in 2000 be reduced to 595,114.40 and the payments in 2001, 2002, and 2003 be increased to $ 150,636.00, so that the total amount paid as incentives remains the same. Commissioner Gamer moved to amend the agreement between the Lee County Economic Development Corporation and Frontier Jet Spinning contingent upon approval by the Sanford City Council for its portion of the incentive request. Upon a vote, the results were as follows: 5