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Boos 13 mf,~ 171 <br />WHEREAS, the Historic Preservation Foundation of North Carolina, <br />Inc. is a charitable organization chartered by the General Assembly <br />through the Historic Preservation and Conservation Agreements Act <br />to acquire certain rights to insure that structures in this State <br />which are of historical and architectural significance are <br />preserved and maintained for future generations. <br />NOW, THEREFORE, BE IT RESOLVED by the Lee County Board of <br />Commissioners, the Lee County Board of Education, and the City of <br />Sanford Board of Aldermen, that: <br />1. The County of Lee and the Lee County Board of Education hereby <br />agree to option the Wilrik property to the Historic Preservation <br />Foundation of North Carolina, Inc. for the price of $250,000.00. <br />2. The County of Lee and the Lee County Board of Education agree <br />to relocate their offices within six (6) months of notification by <br />Historic Preservation Foundation of North Carolina, Inc. or its <br />assigns, that a project is approved. <br />3. The Lee County Board of Commissioners and the City of Sanford <br />Board of Aldermen agree to provide rental assistance to the elderly <br />tenants in the proposed project for a period of sixty (60) months <br />beginning at the issuance of a certificate of occupancy by the <br />City. The annual amount of the rental assistance shall be no more <br />than the real property taxes paid by the project annually. The <br />payments for rental assistance, if required, shall be paid by the <br />City and the County in no more than sixty monthly installments. <br />4. Upon agreement by the County of Lee and the Lee County Board of <br />Education to option the property, the City of Sanford Board of <br />Aldermen agree to the terms set forth by the State of North <br />Carolina for the administration of the approved Main Street <br />Financial Incentive Fund grant. <br />7 <br />