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Exhibit C <br />8 <br />RESOLUTION APPROVING A LEASE AGREEMENT BETWEEN THE <br />COUNTY OF ORANGE, NORTH CAROLINA AND BUILDERS' <br />SUPPLY & LUMBER COMPANY, INC., FOR THE BUILDING <br />AND PROPERTY AT 401 VALLEY FORGE ROAD, HILLSBOROUGH <br />WHEREAS, pursuant to and in satisfaction of the requirements <br />of Section 158 -7.1 of the General Statutes of North Carolina, the <br />Board of Commissioners, following a public hearing, has <br />determined that if it leases the building and property located at <br />401 Valley Forge Road to Builders' Supply & Lumber Company, Inc. <br />per the Lease that is an exhibit to this Resolution, the <br />consideration to Orange County will be equal to or greater than <br />the value of the leasehold interest to be conveyed by Orange <br />County, and more specifically that: the value of the lease <br />payments made to Orange County, together with the value of the <br />real property, equipment, and sales taxes paid to Orange County <br />as the result *of the Lease, will be equal to or greater than the <br />fair market value of the interest conveyed, as determined by a <br />market survey of similar facilities in this area; and <br />WHEREAS, pursuant to and in further satisfaction of Section <br />158 -7.1 of. the General Statutes,.the Board of Commissioners <br />hereby determines that the leasing of this property to Builders' <br />Supply & Lumber Company, Inc. will. stimulate the local economy, <br />promote business, and result in the creation of a substantial <br />number of jobs in the County at or above the "median average" <br />wage in Orange County. The median average wage projected to be <br />paid by Builders' Supply at this facility exceeds the median <br />average wage paid by all insured private industries in Orange <br />1 <br />25 <br />