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

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0 008 650 X ILV PloF 152 expanding its Lee County facility. Under the County's incentive policy, this would permit incentives of $2,009,925.00, which would be paid out over a five-year period from 2002-2006. Chairman Hincks opened the public hearing that had been advertised for this date and time. Economic Development Director Bob HCUts, representing the Lee County Economic Development Corporation, spoke in favor of the request. No one spoke in opposition to the incentive request. Chairman Hincks closed the public hearing. Commissioner SanIS moved to enter into an incentive agreement between the Lee County Economic Development Corporation and American Cyanamid, contingent upon approval by the Sanford City Council for its portion of the incentive request. Upon a vote, the results were as follows: Aye: Adams, Garner, Hincks, Matthews, Paschal, Reives, and Sauls Nay: None The Chairman ruled the motion had been adopted unanimously. The Board considered a proposed Small Cities Community Development Block Grant (CDBG)-Economic Development application. Economic Development Director Bob Heuts and Skip Green of Skip Green & Associates, told the Board that this application would be for a 5750,000 grant through the issuance of a "certificate of participation" with a private lender. The loan will be made to Original Furniture Design, Inc. who will manufacture wood furniture products. The participating lender will match the "certificate of participation" dollar for dollar, with a minimum total loan of 51,500,000. Chairman Hincks opened the public hearing. Economic Development Director Bob Heuts, on behalf of the Lee County Economic Development Corporation, spoke in favor of the proposed grant. No one spoke in opposition to the grant. Chaimian Hincks closed the public hearing. Commissioner Reives moved that the application be submitted for consideration. Upon a vote, the results were as follows: 8