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VI.B SAGA request for $100,000 loan from the Revolving Loan Fund for shell <br /> building initiatives <br /> The Sanford Area Growth Alliance has requested a loan of$100,000 from the <br /> revolving loan fund that was established as part of an economic development activity <br /> in which Lee County received a grant from the Golden Leaf Foundation. Grant funds <br /> were used to purchase pallets that Frontier Spinning leased from the County. SAGA <br /> is now requesting a loan of$100,000 for use at CCEP. The intent of the loan is that <br /> it would be interest bearing. <br /> SAGA Loan Request 5.25.21.pdf <br /> RevolvingLoanFundProgramRevision 4-1-2019.docx <br /> Motion: Motion to move forward with a public hearing on SAGA's request for <br /> $100,000 loan from the Revolving Loan Fund for shell building initiatives. <br /> Mover: Dr. Andre Knecht <br /> For: 7 - Arianna Lavallee, Dr. Andre Knecht, Robert Reives, Cameron Sharpe, <br /> Kirk Smith, Bill Carver, Mark Lovick <br /> Motion Result: Passed <br /> VI.0 Review of the contract with SAGA to provide economic development services for <br /> Lee County Government <br /> County Attorney Whitney Parrish stated that each year the County enters into a <br /> contract with SAGA for economic development services. Staff will need the <br /> Board's input on whether to include the requested increase. After some discussion <br /> a motion was made to keep the funding at the recommended amount. <br /> 2021 SAGA Contract.docx <br /> Motion: Motion to move forward with the allocation in the amount of $322,875 <br /> and approve the contract with SAGA for economic development services. <br /> Mover: Arianna Lavallee <br /> For: 6 - Arianna Lavallee, Dr. Andre Knecht, Robert Reives, Cameron Sharpe, <br /> Kirk Smith, Bill Carver <br /> Against: 1 - Mark Lovick <br /> Motion Result: Passed <br /> Chairman Smith called for a five minutes recess. <br /> VI.D Property and Liability Insurance Renewal <br /> County Manager John Crumpton reminded the Board that he is a member of the <br /> Board of Trustees for the Risk Management Pool. The cost of the renewal is <br /> $439,387 for Property and Liability Insurance with the NCACC Risk Management <br /> Pool, which is an increase from last year's renewal amount of$407,828. <br /> Lee Co. 2021 L&P Renewal Proposal.pdf <br /> Motion: Motion to accept renewal notice in the amount of $439,387 from <br /> NCACC for FY 2021-2022 for Property and Liability Insurance. <br /> Mover: Robert Reives <br /> For: 7 - Arianna Lavallee, Dr. Andre Knecht, Robert Reives, Cameron Sharpe, <br /> Kirk Smith, Bill Carver, Mark Lovick <br /> Motion Result: Passed <br /> 8 <br />