Orange County NC Website
Browse       Search
11 <br /> NORTH CAROLINA <br /> ORANGE COUNTY <br /> THIS LEASE AGREEMENT made and entered into as of the <br /> day of , 19 by and between the COUNTY OF ORANGE, <br /> NORTH CAROLINA, a political subdivision of the State of North <br /> Carolina, having its principal office at 208 South Cameron <br /> Street, Hillsborough, North Carolina, hereinafter sometimes <br /> referred to as "Landlord, " and BUILDERS' SUPPLY & LUMBER COMPANY, <br /> INC. , a corporation having its principal office in <br /> hereinafter referred to as <br /> "Tenant; " <br /> WHEREAS, on or about October 1, 1997, Landlord anticipates <br /> becoming the owner of the property, including a building and <br /> other structures and facilities located thereon, which is <br /> described in Exhibit A attached hereto and made a part hereof <br /> (which property is herein sometimes referred to as "the <br /> Premises" ) , as provided in and explained in the DECLARATION which <br /> is Exhibit B; and <br /> WHEREAS, it is anticipated that the present tenant of the <br /> Premises, Georgia-Pacific Corporation, will not exercise its <br /> right to renew its lease beyond` October 1, 1997 and will vacate <br /> the premises no later than October 1, 1997; and <br /> WHEREAS, Tenant has expressed an interest in leasing the <br /> Premises from Landlord on a long term basis; and <br /> WHEREAS, on April 1, 1996, Landlord conducted a public <br /> hearing pursuant to North Carolina General Statutes S 158-7 . 1, <br /> following publication of notice of that public hearing at least <br /> ten days before the hearing was held, for the purpose of <br /> receiving public comment on a proposed long term lease between <br /> Landlord and Tenant; and <br /> WHEREAS, at that public hearing information was provided by <br /> or on behalf of Tenant as follows: <br /> 1. approximately 60 to 70 employees will be hired by <br /> Tenant and employed at the Premises during the first year of <br /> occupancy by Tenant; approximately 90 to 100 employees will be <br /> hired and employed at the Premises by Tenant within two to three <br /> years following occupancy of the property by Tenant; <br /> 2 . wage rates for the employees of Tenant to be employed <br /> at the Premises are projected to average $12 .80 per hour for all <br /> employees and $9 . 13 per hour excluding salaried, managerial/ <br /> supervisor positions; <br /> 3. Tenant will invest approximately $8.6 million in the <br /> local economy of Landlord within the first three years of its <br /> 1 <br />