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FILED <br /> LEE COUNTY NC <br /> PAMELA G. BRITT <br /> REGISTER OF DEEDS <br /> FILED Jul 01, 2020 <br /> AT 03:44:19 pm <br /> BOOK 00003 <br /> START PAGE 0644 <br /> END PAGE 0644 <br /> INSTRUMENT # 04249 <br /> EXCISE TAX (None) <br /> RESOLUTION AUTHORIZING THE EXPENDITURE OF <br /> FUNDS FOR AN ECONOMIC DEVELOPMENT PROJECT AND APPROVING AN UPDATED <br /> AGREEMENT WITH PROJECT JUPITER <br /> WHEREAS, notice of a public hearing was published that the Lee County Board of <br /> Commissioners proposed to participate in an economic development project with Project Jupiter <br /> originally on December 16, 2019; and <br /> WHEREAS,the Company has changed its investment schedule so a new public hearing based on <br /> the amended numbers was advertised on January 30, 2020 and a new public hearing was held on February <br /> 10,2020; and <br /> WHEREAS, the updated project represents an investment by Project Jupiter of$109,400,000 <br /> (one hundred and nine million, four hundred thousand dollars) in building renovations, machinery and <br /> equipment and the creation of at least 209(two hundred and nine)new jobs in Lee County,North <br /> Carolina, in which the County will share up to $2,757,376(two million, seven hundred and fifty-seven <br /> thousand,three hundred and seventy-six dollars)of the cost of the project with revenue from the County's <br /> General Fund over the seven year life of the project. <br /> NOW THEREFORE, BE IT RESOLVED by the Lee County Board of Commissioners that the <br /> Board finds the project will stimulate the local economy, promote business, and result in the creation of <br /> jobs in the County; and estimates that the County will recover its consideration for the project taking into <br /> account prospective tax revenue from improvements on the property, sales tax revenues generated in the <br /> area, as well as other prospective tax revenues or income coming to the County as a result of the project. <br /> BE IT FURTHER RESOLVED by the Lee County Board of Commissioners that it hereby <br /> approves the attached agreement between Lee County and Project Jupiter and the Board's Chair and <br /> Clerk are hereby authorized to execute the agreement on behalf of the County. <br /> _....-ADOPTED this Yfrh day of 6,e0;%.1 a) r (.A0 . <br /> '''': '7E <br /> „ . i ®� II i/C6 dor,r <br /> 0 + 0;,,`i _� Pi'' Amy Dalrymple, Chair <br /> J T :�� Lee County Board of Commissioners <br /> • <br /> e fifer Ga .le 'Clerk to the Board <br />