Laserfiche WebLink
RESOLUTION AUTHORIZING THE EXPENDITURE OF <br /> FUNDS FOR AN ECONOMIC DEVELOPMENT PROJECT AND APPROVING AN UPDATED <br /> AGREEMENT WITH PROJECT JUPITER <br /> WHEREAS, notice of a public hearing was published that the Lee County Board of <br /> Commissioners proposed to participate in an economic development project with Project Jupiter <br /> originally on December 16, 2019; and <br /> WHEREAS, the Company has changed its investment schedule so a new public hearing based on <br /> the amended numbers was advertised on January 30, 2020 and a new public hearing was held on February <br /> 10, 2020; and <br /> WHEREAS,the updated project represents an investment by Project Jupiter of$109,400,000 <br /> (one hundred and nine million, four hundred thousand dollars) in building renovations, machinery and <br /> equipment and the creation of at least 209(two hundred and nine)new jobs in Lee County,North <br /> Carolina, in which the County will share up to $2,757,376 (two million, seven hundred and fifty-seven <br /> thousand,three hundred and seventy-six dollars)of the cost of the project with revenue from the County's <br /> General Fund over the seven year life of the project. <br /> NOW THEREFORE, BE IT RESOLVED by the Lee County Board of Commissioners that the <br /> Board finds the project will stimulate the local economy, promote business,and result in the creation of <br /> jobs in the County; and estimates that the County will recover its consideration for the project taking into <br /> account prospective tax revenue from improvements on the property, sales tax revenues generated in the <br /> area,as well as other prospective tax revenues or income coming to the County as a result of the project. <br /> BE IT FURTHER RESOLVED by the Lee County Board of Commissioners that it hereby <br /> approves the attached agreement between Lee County and Project Jupiter and the Board's Chair and <br /> Clerk are hereby authorized to execute the agreement on behalf of the County. <br /> ABORTED this iv of }` p,1rY0v S,, , , U9C% . <br /> 1 <br /> • <br /> �Ci%, ? , 7Amy Dalrymple, Chair <br /> il" , 1\�h� , / <br /> r <br /> Lee County Board of Commissioners <br /> A � h I <br /> I. IAA i:_ -''� <br /> e fifer Ga .le 'Clerk to the Board <br /> NORTH CAROUNA,1.EE COONTY <br /> Presented for registration on this 1_._da <br /> of 20,�-.at�--' � �� <br /> '� I Pae�— <br /> recorded in Book.— g <br /> Pamela G.Brig Register of Deeds <br />