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i <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 />