Laserfiche WebLink
Uuli~l ,.:u 4_0 <br />RESOLUTION AUTHORIZING THE EXPENDITURE <br />OF FUNDS FOR AN <br />ECONOMIC DEVELOPMENT PROJECT AND APPROVING <br />AN AGREEMENT WITH <br />LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION <br />(LEE BRICK AND TILE) <br />WHEREAS, notice of a public hearing was published that Lee County proposed <br />to participate in the cost of an economic development project with Lee County Economic <br />Development Corporation which consist of extending water and sewer lines to the new <br />facility, the extension of electric or natural gas systems to the new facility, the cost of site <br />preparation, and for aiding and encouraging the location of the construction of the facility <br />in Lee County; and <br />WHEREAS, Lee Brick and Tile will construct a building containing not less than <br />10,000 square feet and the land, building, and equipment will be an investment of at least <br />$27 million dollars and will provide employment for at least 35 people when fully <br />operational; and <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of <br />Lee County that the Board finds that the project will stimulate the local economy, <br />promote business, and result in the creation of a number of jobs in the County; and <br />estimates that the County will recover its consideration for the project within ten years or <br />less taking into account prospective tax revenues from improvements to be constructed <br />on the property, sales tax revenues generated in the area, as well as other prospective tax <br />revenues or income coming to the county as a result of the project; <br />BE IT FURTHER RESOLVED by the Board of Commissioners that it hereby <br />approves the expenditure of up to $366.845 of economic development funds for the Lee <br />Brick and Tile project and the attached agreement between Lee County and Lee County <br />Economic Development Corporation is hereby approved and the Chairman and Clerk to <br />the Board are hereby authorized to execute the agreement on behalf of the County, <br />subject to a pre-audit certificate thereon. <br />Adopted the 6`" day of June 2005. <br />Herbert A. Hineks. Chairman <br />