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C5 <br />eccz 1.7 943, <br />® Contribution Levels <br />A. Lee County <br />Businesses and industries which meet the criteria established above will be eligible for <br />consideration for incentives where the Board of Commissioners deems appropriate as <br />follows: <br />• A maximum contribution of 50 percent of the increased tax revenue for five years, <br />• The entitlement period. shall be determined by negotiation between Lee County <br />Economic Development Corporation, Lee County, and the company. <br />• The contribution will also be based on the quality of jobs created. Wage rates for <br />existing businesses will be based on company's average weekly wage as reported to <br />the Employment Security Commission. See schedule below for percentages of funds <br />allocated: <br />Wage Rates <br />Percent of Total <br />$9.00-10.00 50% <br />® $10.00-12.00 75% <br />100% <br />• The contribution will also be based on company's average weekly wage as reported to <br />the Employment Security Commission. See schedule below for percentages of funds <br />allocated: <br />Wage Rates Percent of Total <br />$9.00-10.00 <br />50% <br />$10.00-12.00 <br />75% <br />$12.00+ <br />100% <br />• Upon approval, allocated funds can be used for any item as stated in N.C. Gen. Stat. <br />158-7.1. <br />B. City of Sanford <br />Business or industries which meet the criteria established above will be eligible for <br />additional incentives if they expand or locate within the corporate limits of the City of <br />Sanford when the City Council deem it appropriate as follows: <br />® • A maximum contribution of 50 percent of the increased tax revenue for five years. <br />Adopted by Lee County Board of Commissions -1999 2 . <br />Page 2 of 3 <br />