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Jr~ <br />O A RESOLUTION ON FINANCING A JOINT LEE COUNTY/CITY OF SANFORD ECONOMIC <br />DEVELOPMENT ADMINISTRATION - PUBLIC WORKS APPLICATION FOR PUBLIC FACILITY <br />IMPROVEMENTS TO SERVE TWO INDUSTRIAL SITES. <br />WHEREAS; Lee County and the City of Sanford support planned economic <br />development activities that provide employment opportunities <br />for their residents; and <br />WHEREAS; The Lee County Industrial Development Corporation has obtained <br />fee simple title and optioned land at two industrial sites, the <br />Lee County Industrial Park Extension located in Lee County and <br />the Walter Wilson Industrial Park located in the City of Sanford; <br />and <br />WHEREAS; The development of the Lee County Industrial Park Extension will <br />require $462,000 and the Walter Wilson Industrial Park, $151,000 <br />in public facility improvements, water, sewer and streets; and <br />WHEREAS; Lee County and the City of Sanford have applied for and received <br />a conditional authorization, correspondence dated May 18, 1983, to <br />submit a joint application to the Economic Development Administration <br />for Title I funds; and <br />WHEREAS; The maximum amount of Economic Development Administration funds <br />• that,may be requested is $306,500 or 50 percent of eligible <br />project costs, whichever is less; and <br />WHEREAS; The Economic Development Administration's application must include <br />documentation that local funds are ava:i3able and will be committed <br />toward the project described in the application if and when Title I <br />funds are committed; <br />BE IT RESOLVED BY THE LEE COUNTY BOARD OF COMMISSIONERS AND THE BOARD OF <br />ALDERMEN OF THE CITY OF SANFORD that: <br />1. Federal funds are not being used to match federal (EDA) funds. <br />2. Local funds totaling $306,500 are committed for the project in the <br />Economic Development Administration application including the administration, <br />design and construction of water and sewer line extensions, improvements <br />to sewer facilities, and the provision of access roads to serve the <br />Lee County Industrial Park Extension and the Walter Wilson Industrial Park. <br />a. Lee County commits $231,000 to be used for a part of the joint <br />Lee County/City of Sanford, Economic Development Administration - <br />Title I application. <br />b. The City of Sanford commits $75,500 to be used for a part of the <br />joint Lee County/City of Sanford, Economic Development Administration - <br />Title I application. <br />