Orange County NC Website
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(earning no more than 80% of the County's median income of$37,950), prior to coming to <br /> work for the company. <br /> Orange County's "Article 46" '/4 Cent Sales Tax Proceeds: <br /> Also available, if needed. <br /> Utility Infrastructure <br /> Orange County: <br /> 12" water line to site $375,000+ <br /> 10" sewer line to site $200,000+ <br /> Service road extension $100,000+ <br /> (Design, engineering &permitting for Ben Wilson service road) <br /> PSNC Energy: <br /> 4" natural gas line to the site, paid by PSNC Energy. <br /> Duke Energy: <br /> Deliver electrical power & install transformers at the site, paid by Duke Energy. <br /> Access Road Extension <br /> N. C. Department of Transportation: <br /> • 2,500-ft road access construction. $500,000 <br /> (extension of the existing Ben Wilson service road parallel along the highway to <br /> Morinaga's site). <br /> • Paid 100% by the N. C. Department of Transportation. <br /> • Design & construction time is approximately 12 months. <br /> • Road improvement improves the likelihood that nearby Mattress Factory Road may one <br /> day be upgraded to become a full interchange. <br /> Craig Benedict, referring to the Access Road Extension slide, said the Department of <br /> Transportation (DOT) will be building the road. He said Orange County staff will provide <br /> environmental and design plans, and DOT will take it from there. <br /> He said the majority of the infrastructure will be permitted in the spring of 2014 and will <br /> be completed by the end of next year to meet the needs of Morinaga's planned opening in July <br /> 2015. <br /> Michael Talbert presented the following portion of the PowerPoint presentation: <br /> Orange County Incentive <br /> Performance-Based Incentive is Calculated as Follows: <br /> • Inducement Grant is calculated at 75% of the estimated county taxable value of the <br /> Company's investment, for up to 5 years. <br /> $34 million investment = $218,790 annual grant <br /> x 5 years = $1,093,950 total grant. <br /> $48 million investment = $308,000 annual grant <br /> x 5 years = $1,545,000 maximum total grant. <br /> • "Claw-back" provision is included in the Inducement Grant to require verification that the <br /> Company reaches annual investment &jobs creation targets, before the County <br /> incentive is paid. <br /> • Company will be required to provide health insurance for employees. <br />