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VII.CFY 2019-2020 Financial Statement Presentation <br /> Stuart Hill, auditor representative with Thompson, Price, Adams and Co., PA, and <br /> Assistant County Manager/Finance Director Lisa Minter presented the FY 2019- <br /> 2020 Financial Statement Presentation for Fiscal Year ended June 30, 2020 <br /> providing a summary of audit results, a copy of which is attached to these Minutes. <br /> No action was taken. <br /> VII.DConsider a collateral assignment of the MOU to Carter Bank & Trust for the <br /> Spec Building <br /> Sanford Area Growth Alliance CEO Jimmy Randolph presented a request for a <br /> collateral assignment of a Memorandum of Understanding to Carter Bank and Trust <br /> for Spec Building 2. Shell building 2 is underway. The site has been shown multiple <br /> times with several active projects considering the building. There is a development <br /> agreement in place with CCEP and the shell building construction is part of the <br /> established program. As the developers of the spec building are seeking financing <br /> to start construction of the building, the bank, Carter Bank & Trust, has requested <br /> that the City and County Consent to collateral assignment of the Memorandum of <br /> Understanding in order to use the potential lease payments as collateral to finance <br /> the project. <br /> MOU Spec Building 2018.pdf <br /> Lee County Growth III Collateral Assignment of MOU with Consent.DOCX <br /> Motion: Motion to approve the collateral assignment of the Memorandum <br /> of Understanding to Carter Bank and Trust for Shell Building 2. <br /> Mover: Robert Reives <br /> For: 3 - Amy Dalrymple, Robert Reives, Cameron Sharpe <br /> Against: 3 - Arianna Del Palazzo, Dr. Andre Knecht, Kirk Smith <br /> Absent: 1 - Kevin Dodson <br /> Motion Result: Failed <br /> VIII. Resolution of the Lee County Board of Commissioners in Support of <br /> Repealing the Seventeenth Amendment as a Federal Legislative Goal for the <br /> North Carolina Association of County Commissioners. <br /> Commissioner Smith referenced an e-mail from NCACC requesting proposals for <br /> federal legislative goals which ar due by November 30, 2020. As a result, <br /> Commissioner Smith requested consideration of a Resolution in support of <br /> repealing the Seventeenth Amendment as a Federal Legislative Goal proposal for <br /> the North Carolina Association of County Commissioners, a copy of which is <br /> attached to these Minutes. Following discussion, Commissioner Reives requested <br /> to call the question. <br /> Motion: Motion to approve Resolution of the Lee County Board of <br /> Commissioners in Support of Repealing the Seventeenth Amendment as a <br /> Federal Legislative Goal for the North Carolina Association of County <br /> Commissioners. <br /> Mover: Kirk Smith <br /> For: 3 - Arianna Del Palazzo, Dr. Andre Knecht, Kirk Smith <br /> Against: 3 - Amy Dalrymple, Robert Reives, Cameron Sharpe <br />