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CO UJ\/11 <br /> !1i <br /> * *: <br /> 2741' <br /> • O - <br /> •?I CARpt; <br /> LEE COUNTY BOARD OF COMMISSIONERS <br /> MCSWAIN EXTENSION EDUCATION AND AGRICULTURE CENTER <br /> 2420 TRAMWAY ROAD <br /> SANFORD, NC 27330 <br /> November 30, 2020 <br /> MINUTES <br /> Roll Call <br /> Present: Amy Dalrymple, Arianna Del Palazzo, Dr. Andre Knecht, Robert Reives, <br /> Cameron Sharpe, Kirk Smith <br /> Absent: Kevin Dodson <br /> CALL TO ORDER <br /> Chair Dalrymple called the meeting to order at 6:00 p.m. <br /> NEW BUSINESS <br /> Economic Development Incentive Policy <br /> County Manager John Crumpton presented a proposed change to an Economic <br /> Development Incentive Policy stating that it is the intent of the proposed new Economic <br /> Development Policy to allocate 50% of the net property tax revenue increase in the first <br /> year of the incentive to lowering the County's Ad Valorem tax rate by an equivalent <br /> amount. The County will place up to 50% of the remaining net increase in revenue in <br /> the County's Capital Reserve Fund to be used for future pay as your go capital projects. <br /> Commissioner Knecht stated that this is how everyone gets something in the end and <br /> makes business going forward easier for all. A copy of the "Resolution by the Lee <br /> County Board of Commissioners Economic Incentives Guidelines"is attached to these <br /> Minutes and incorporated by this reference. <br /> INCENTIVE POLICY Draft 2020.doc RESOLUTION - Economic <br /> Development Incentives - Adopted 7-15-2013 <br /> 1 <br />