Agenda - 10-08-2013-13 (1) - Laserfiche WebLink

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INFORMATION ITEM PUBLICATION INSTRUCTION: Please publish the following notice in the Special Notice Section of the Classified Advertisements on Wednesday, October 2, 2013. The County Seal should be placed above the announcement. �t �J PUBLIC HEARING Tuesday, October 15, 2013 SOUTHERN HUMAN SERVICES CENTER 2501 Homestead Road Chapel Hill, NC 27516 Notice of Public Hearing Pursuant to North Carolina General Statute 158 -7.1 (d) on the issuance of economic development incentives to a private company — The Orange County Board of Commissioners will hold a public hearing on the County's proposed conveyance of a "performance- based" economic development incentive to a private company, as required by the Local Government Act, North Carolina General Statute 158 -7.1 (d). The County Board of Commissioners intends, subject to public comment at the public hearing for which notice is hereby given, to approve conveyance of the incentive agreement, with claw back provisions, for the recruitment of Morinaga America Foods, Inc. to Orange County, N.C. The Inducement Grant is for a period of 5 years, and shall not exceed $1,545,000 which is the inducement amount based on a $48,000,000 investment by the Company. Funding for the incentive will come from fund balances on hand, and projected ad valorum taxes paid by the Company. The Company proposes to invest at least $34 million in a new production facility, and create at least 90 new jobs. The hearing will begin at 7:00 PM on Tuesday, October 15, 2013, and will be held at Southern Human Services Center, 2501 Homestead Road, Chapel Hill. Further information can be obtained by contacting Donna Baker at (919) 245 -2130. In compliance with the Americans with Disabilities Act, individuals needing special accommodations (including auxiliary communicative aids and services) during the hearing should notify Donna Baker at (919) 245 -2130 at least three days prior to the hearing that will be attended.