Agenda Package 4-1-13 - Reg. Meeting

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subject to random audits for verification. Existing Industry in Lee County will be required to maintain an agreed upon number of iobs during the duration of the incentive period. 5) All jobs counted towards the incentive must be full -time employee, defined as a person employed at 35 hours or more a week, with a salary or wage package that includes health benefits positions that are reported monthly by the company to state Employment Security. 6) A new business must create at least $20 million in new investment in the County to be considered for an incentive. An existing Company must invest a minimum of $4-0— 5 million to considered for an incentive. Under either option, the investor st be verified as taxable property under North Carolina la d verified by the Lee County Tax Office. 7) Any Company receiving an incentiv must mit to continue operations, without seasonal variatio ause i mber of jobs to fall below required levels, for the tion of the incen eriod. 8) Economic incentives will not offer in advanc usiness investment or job creation in Lee ty. 9) The County will review requests for infrastructure which benefit the business and the a re community alternative to incentives. 10)AII incentives shall be ursuant to a 'ten incentive agreement between Lee County an ient bus . Provisions shall be included in every incentiv gre to en a the county, pursuant to NCGS 158- 7.1(h), reca r su opriated or expended by the county ' vent the b Hess fai o adhere to its job creation, investor , and tinuous o rations agreements at any time during 11)Clawback nination of the contract, proration and /or repayment of incentives BE IT F HEITRESOLVED, that the guidelines listed above are not intende be enti ments for businesses to receive incentives from Lee County, T Yintive reserves to the right to review all proposals and recommendagainst incentive offers by the LCEDC and to make the final decision awards on the basis of what is in the best interest for the citizens y. The Board of Commissioners may deviate from the above po licv when they determine it is in the best interest of the citizens of Lee County to do so. All incentives are subject to Public Hearing, to be followed in a subsequent meeting by a vote of the County Commissioners, as required by law. The Board of Commissioners instructs the County Attorney to review all contract documents and change them to reflect the new policy of the Board of Commissioners. Once the new contract format is approved, the Board requests that the County Manager forward a copy of this policy and contract documents to