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uUU\ i F~~F ~l~ i <br />EXHIBIT D <br />TO AGREEMENT BETWEEN <br />COUNTY OF LEE <br />AND <br />LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION <br />DESCRIPTION OF PROJECT AND INCENTIVES <br />1. The Project: Development of a manufacturing facility owned by Lee Brick <br />& Tile Company on Hawkins Avenue in Sanford, Lee County, N.C. The <br />Company will construct at least a 10,000 square foot facility and will have <br />a cumulative initial ad valorem taxable value (prior to depreciation) of at <br />least $27,000,000.00 providing employment for at least 35 people. <br />2. The Incentive: Estimated cost of the financial incentives for the project <br />are: <br />Site preparation <br />Lee County's share <br />$366,845.00 <br />$366,845.00 <br />This contract covers the County of Lee's share of the incentives described above. <br />It is anticipated that the incentives will be paid out as follows: <br />FISCAL YEAR <br />AMOUNT <br />PAYMENT DATE <br />2007-2008 <br />$73,369.00 <br />December 31, 2007 <br />2007-2009 <br />$73,369.00 <br />December 31, 2008 <br />2008-2010 <br />$73,369.00 <br />December 31, 2009 <br />2010-2011 <br />$73,369.00 <br />December 31, 2010 <br />2011-2012 <br />$73,369.00 <br />December 31, 2011 <br />