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meeting of the Board of Commissioners. No one spoke in favor or in opposition of <br />the proposed economic development project. Commissioner Sloan moved to <br />approve the Resolution and Agreement for Project Eagle, a copy of which is <br />attached to these minutes and by this reference made a part hereof. Upon a vote <br />the results were as follows: <br />Aye: Dalrymple, Oldham, Reives, Sharpe, Sloan <br />Nay: Knecht <br />Absent: Dodson <br />The Chair ruled the motion had carried 5:1. <br />B. Request for Approval of Local Grant Agreement for the One North Carolina Fund <br />with Wyeth Holdings, LLC. <br />Commissioner Sloan was excused due to a potential conflict of interest related to <br />his employment with Pfizer. County Attorney Whitney Parrish presented the Local <br />Grant Agreement for the One North Carolina Fund with Wyeth Holdings LLC for the <br />Board's consideration. On February 20, 2017, the Board held a public hearing <br />proposing to participate in an economic development project, Project Panda, Wyeth <br />Holdings LLC, which consists of a life science research and product manufacturing <br />process with a taxable investment of at least one hundred million dollars and the <br />hiring of fifty new jobs at an average salary of ninety thousand dollars over a five <br />year period. The investment from the County will be up to $1,412,715.00. As part of <br />Wyeth Holdings LLC State incentive, they received a One North Carolina Grant in <br />which they will receive $250,000.00 as part of a match from our local incentive. The <br />County will be a pass through entity for the administration of the grant. <br />Commissioner Reives moved to allow Commissioner Sloan to recuse himself due to <br />a potential conflict of interest. Upon a vote, the results were as follows: <br />Aye: Dalrymple, Knecht, Oldham, Reives, Sharpe, Sloan <br />Nay: None <br />Absent: Dodson <br />The Chair ruled the motion had carried unanimously. <br />Commissioner Reives moved to approve the agreements and to authorize the Chair <br />to sign any documents associated with the One North Carolina Grant, a copy of <br />which is attached to these minutes and by this reference made a part hereof. Upon <br />a vote, the results were as follows: <br />Aye: Dalrymple, Oldham, Reives, Sharpe, Sloan <br />Nay: Knecht <br />Absent: Dodson <br />The Chair ruled the motion had carried 5:1. <br />Page 3 19 <br />