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4) The new business must create and maintain a minimum of 25 new jobs in Lee <br />County to be considered for an incentive. The business will be required to maintain <br />a contracted increase in the number of full -time employees for the duration of the <br />incentive agreement period. Businesses will be required to show proof of job <br />creation and be subject to random audits for verification. Existing businesses in Lee <br />County will be required to maintain a specified number of full -time employees for the <br />duration of the incentive agreement period. <br />5) Each job counted towards the incentive must be full -time employee, defined as a <br />person employed at 35 hours or more a week, with a salary or wage package that <br />includes health benefits. These positions shall be reported monthly by the company <br />to Division of Employment Security at the Department of Commerce. <br />6) A new business must create at least $20 million in new investment in the County to <br />be considered for an incentive. An existing business must invest a minimum of $5 <br />million to be considered for an incentive. Under either option, the investment must <br />be verified as taxable property under North Carolina law and verified by the Lee <br />County Tax Office. These levels of new investment must be sustained through the <br />period of the economic incentive agreement. <br />7) Any company receiving an incentive must commit to continue operations, without <br />seasonal variations that cause its number of jobs to fall below required levels, for the <br />duration of the incentive agreement period. <br />8) Economic incentives will not be paid in advance of business investment or job <br />creation in Lee County. <br />9) The County will review requests for public infrastructure which benefit the business <br />and the entire community as an alternative to incentives. <br />10) All incentives shall be paid pursuant to a written incentive agreement between Lee <br />County and the recipient business. Provisions shall be included in every incentive <br />agreement to ensure the County, pursuant to NCGS 158- 7.1(h), recaptures sums <br />appropriated or expended by the County in the event the business fails to adhere to <br />its job creation, investment, and continuous operations agreements at any time <br />during the contract period. <br />11) Clawback provisions may include termination of the contract, proration of future <br />incentive cash payouts, and /or repayment of incentives already issued to a <br />business. <br />NOW BE IT FURTHER RESOLVED, that the guidelines listed above are not intended <br />to be entitlements for businesses to receive economic incentives from Lee County. The County <br />reserves the right to review all proposals and recommendations for or against incentive offers <br />by the LCEDC and to make the final decision on incentive awards on the basis of what is in <br />the best interest for the citizens of Lee County. All economic incentives are subject to Public <br />Hearing, to be followed by a vote of the County Commissioners, as required by law. By Board <br />policy the County Commissioners require the vote of approval for an economic incentive <br />agreement to occur in a meeting of the Board of Commissioners subsequent to the meeting in <br />which the public hearing occurred. <br />The Board of Commissioners instructs the County Attorney to review the County's <br />standard agreement formats for economic incentives and change them to reflect the new <br />