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<br />ATTACHMENT 3 (EXHIBIT A) <br />NORTH CAROLINA <br />ORANGE COUNTY <br />Utility Extension Fund Agreement <br />This agreement made and entered into this the day of October, 2009 by and among Orange <br />County, a body. politic and corporate of the State of North Carolina (appearing hereinafter as <br />"County"), and Taylor Fish Faims, a North Carolina General Partnership licensed to do business <br />within the United States and North Carolina (appearing hereinafter as "Partnership"). <br />WITNESSETH <br />THAT WHEREAS, the Partnership is im the business of breeding and raising premium quality fresh <br />fish for the wholesale market and operates an aquaculture facility in Orange County <br />WHEREAS, the Pat~neiship has made substantial expenditures on water, sewer, and electric service <br />infrastructure to upgrade its aquaculture facility; and <br />WHEREAS, Orange County has established a "Utility Extension Fund Program" ("Fund") intended to <br />be a revaluing fund used to address the utility needs of small businesses and encourage 'economic <br />development in the County. A portion of the higher property taxes paid by the businesses will be used <br />to replenish the Fund. <br />WHEREAS, Orange County has agreed to provide funds to cover part of the costs incur-•ed by the <br />Partnership to extend the utility infrastructure on the farm. A portion of the resulting increase in the <br />Partnership's property tax revenue will be directed to the Fund. <br />WHEREAS, the Partnership has agreed to meet and continue meeting the living wage requirements <br />and other terms and conditions set forkh herein; <br />NOW, THEREFORE, the parties hereto in consideration of these mutual covenants and agree-nents <br />passing from each to the other do hereby agree as follows: <br />I. COUNTY COMMITMENT <br />(1.) The County acknowledges: <br />(a) The project is currently zoned AR {Agricultural Residential), which allows for a bona <br />fide farm operation. <br />(b) The project has improved job opportunities for Orange County citizens in that the <br />Partnership currently employs three permanent full time employees and employs approximately <br />five seasonal employees during harvesting times. <br />(c) The project provides jobs that comply with Orange County living wage standards. <br />{d) The improvements made by the Partnership to its property in constructing the <br />aquaculture facility have increased the taxable property value from $5,916.00 to $193,762 and <br />that this provides a positive fiscal impact to Orange County. <br />