2011 - 01-31-2011 Reg. Adj. Meeting

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aoo 23 t,,L,1 9l4 LOCAL GOVERNMENT GRANT AGREEMENT THE ONE NORTH CAROLINA FUND Applicant Name: Lee County Grant No. 0- 2010 -6194 Project Name: Caterpillar Inc (with Caterpillar Logistics, Inc. as "Related Member ") STATE OF NORTH CAROLINA COUNTY OF WAKE GRANT AGREEMENT This Agreement, effective the 5th day of August, 2010 by and between the County of Lee, North Carolina (hereinafter referred to as "the Applicant'), and the North Carolina Department of Commerce (hereinafter referred to as "DOC"); WITNESSETII: WHEREAS; the Applicant desires to stimulate and develop the local economy of its region, alleviate the problems of unemployment and underemployment by creating and /or retaining jobs for its citizens, and develop its local tax base; and WHEREAS; the General Assembly has created the One North Carolina Fund to make funding available within the State "to secure commitments for the recruitment, expansion or retention of new or existing businesses:," and WHEREAS; the General Assembly has authorized those funds to be used for installation or purchase of equipment; structural repairs, improvements, or renovations to existing buildings to be used for expansion; construction of or improvements to new or existine water, sewer, oas or electric utility distribution lines or equipment for existing buildings; construction of or improvements to new or existing water, sewer, gas or electric utility distribution lines or equipment for new or proposed buildings to be used for manufacturing and industrial operations; and WHEREAS; the Applicant has made application for funds in connection with a project involvinl- a business or industry considering location m expansion within its area, in particular: A facility that manufactures and assembles the Skid Steer Loader and like machines in or around the City of Sanford in Lee County, North Carolina, with the goal of retainine 825 existing North Carolina jobs, and creating at least 325 new jobs and $28.3 million in new investment in the State of North Carolina (the "Project ");