2007 - 04-02-07 Regular Meeting - Laserfiche WebLink

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BOOK 21 Pau OG 0 LEE COUNTY ©ooo© 3 1) 0O11 0a L-N Committed Today for a Better Tomorrow RESOLUTION AUTHORIZING THE EXPENDITURE OF FUNDS FOR AN ECONOMIC DEVELOPMENT PROJECT AND APPROVING AN AGREEMENT WITH THE LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION WHEREAS, notice of a public hearing was published that the County of Lee proposed to participate in an economic development project with the Lee County Economic Development Corporation which consists of participation in the cost of the extension of utilities and other site preparation at the Wyeth industrial site in the Lee County Industrial Park in the County of Lee, and WHEREAS, Wyeth will construct an administrative building on the site which will represent an investment of at least $50,000,000 and will stimulate the local economy and result in the retention and creation of a substantial number of jobs in the county. NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the County of Lee that the Board finds that the project will stimulate the local economy, promote business, and result in the retention and creation of a substantial number of jobs in the County; and estimates that the County will recover its consideration for the project within five years or less taking into account prospective tax revenues from improvements to be constructed on the property, sales tax revenues generated in the area, as well as other prospective tax revenues or income coming to the County as a result of the project. BE IT FURTHER RESOLVED by the Board of Commissioners of the County of Lee that it hereby approves the attached agreement between the County of Lee and Lee County Economic Development Corporation and the Chairperson and County Clerk are hereby authorized to execute the agreement on behalf of the County. Adopted this 2nd day of April 2007. Robert H. Brown, Chairman Lee County Board of Commissioners