1999 - 11-15-99 Regular Meeting - Laserfiche WebLink

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KOK 17 P~cF 925 0 3 5 RESOLUTION REQUESTING GRANT OF INCENTIVE FUNDS FROM COUNTY OF LEE FOR THE SAIDEN TECHNOLOGIES, INC. PROJECT AND AUTHORIZING THE EXECUTION AND DELIVERY OF DOCUMENTS PERTAINING TO SAID PROJECT . WHEREAS, the Board of Directors of the Lee County Economic Development Corporation (hereinafter sometimes referred to as LCEDC) have received and considered a request from Saiden Technologies, Inc. for incentive funds from the County of Lee (hereinafter sometimes referred to as County) for the construction of a manufacturing facility by Saiden Technologies, Inc. on property located at the Lee County Industrial Park, Lee County, which will consist of a building containing not less than 25,000 square feet and the land, building, and equipment will be an investment of at least $8,000,000.00 and will provide employment for at least five additional people; and WHEREAS, the Board of Directors has determined that the construction of the project would further the economic development of Lee County, would provide gainful employment, and be in the best interests of the people of Lee County; and WHEREAS, the Board of Directors finds that the project meets the criteria for the incentives for the County; and WHEREAS, the cost of the site preparation for the project is estimated,to be $250,000.00, $126,750.00 being requested from the County; and WHEREAS, there have been submitted to this meeting forms of proposed agreements between this corporation and the County of Lee and Saiden Technologies, Inc. as follows: Agreement between LCEDC and Saiden Technologies, Inc.; 2. Agreement between LCEDC and the County of Lee for the grant of funds; and WHEREAS, the Board of Directors of LCEDC deems it in the best interests of the people of Lee County to offer incentives to secure the Saiden Technologies, Inc. project and if approved by the governing body of the County of Lee, to authorize the execution and delivery of the proposed agreement; NOW, THEREFORE BE IT RESOLVED by the Board of Directors of LCEDC as follows: 1. That it hereby requests a grant from the County of Lee for $126,750.00 to provide financial incentives for the Saiden Technologies, Inc. project as hereinbefore described.