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FILED <br /> LEE COUNTY NC <br /> PAMELA G. BRITT <br /> REGISTER OF DEEDS <br /> FILED Jan 06, 2021 <br /> AT 03:22:52 pm <br /> BOOK 00003 <br /> START PAGE 0678 <br /> END PAGE 0678 <br /> ti GO UN <br /> INSTRUMENT# 00112 <br /> "" T` EXCISE TAX (None) <br /> ip <br /> . . .44. ®. <br /> N CAR <br /> RESOLUTION AUTHORIZING THE EXPENDITURE OF <br /> FUNDS FOR AN ECONOMIC DEVELOPMENT PROJECT 2 <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 2, a life science <br /> manufacturing project; and <br /> WHEREAS, the project represents an investment by Project 2 of$75,000,000(seventy-five <br /> million dollars)in building construction, additions and purchase of machinery and equipment and the <br /> creation of at least 200 (two hundred)new jobs in Lee County, North Carolina, with an average annual <br /> wage of$100,000 (one hundred thousand dollars), in which the County will share up to$2,119,214(two <br /> million, one hundred and nineteen thousand, two hundred and fourteen dollars) of the cost of the project <br /> with revenue from the County's 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 above incentive details for Project 2 and agrees to instruct staff to draft an agreement <br /> memorializing the terms above with related provisions ensuring that the Company will meet certain <br /> performance measures before any cash grant incentive is paid and bring the agreement back to the Board <br /> for a formal vote. <br /> ADOPTED this Vhday of VI I/ / ,22_22 <br /> 4 al , <br /> Amy Dalrymple, Chair <br /> ' Lee County Board of Commissioners <br /> •TTST,`o j /7 <br /> 1 7 <br /> /L/L.!,/� '1 <br /> ifnifer G.m. e, Clerk to the Board <br /> , <br />