2007 - 07-09-07 Regular Meeting - Laserfiche WebLink

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BOOK 21 PAGE 651 up to $325,710.00 of the cost of the project with revenues coming from the Lee County General Fund. Those speaking in favor of the economic development project were as follows: 1. Mr. David Spivey, Chairman, Commerce, and 2. Mr. John Daniel, representing Development Corporation Sanford Area Chamber of the Lee County Economic No one present spoke in opposition to the project. Chairman Brown closed the public hearing. Commissioner Lemmond moved to approve an Agreement Regarding Incentive Funds for Frontier Spinning, LLC By and Between the Lee County Economic Development Corporation and Frontier Spinning, LLC, a copy of which is attached to these minutes and by this reference made a part hereof. Upon a vote, the results were as follows: Aye: Brown, Kelly, Lemmond, Paschal, and Reives Nay: Shook and Smith The Chairman ruled the motion had been adopted by a five to two vote. At this time Chairman Brown opened the second public hearing that had been advertised for this date and time to consider the cost of an economic development project with the Lee County Economic Development Corporation, which consists of the cost of retrofitting a building and the purchase of additional equipment for the Caterpillar manufacturing plant which is located at 5715 Clyde Rhyne Drive. Mr. John Daniel, representing the Lee County Economic Development Corporation, outlined the proposed project and asked the Commissioners to consider sharing up to $27,064.31 of the cost of the project with revenues coming from the Lee County General Fund. The following individuals spoke in favor of the economic development project: 1. Mr. David Spivey, Chairman, Sanford Area Chamber of Commerce, and 2. Mr. John Daniel, representing the Lee County Economic Development Corporation No one present spoke in opposition to the project. 3