Orange County NC Website
Browse       Search
<br /> <br />Ex]zib t C <br />~,. <br />a~ <br /> <br />s <br />RES~LUT.ION APPROVING A LEASE AGREEMENT BETWEEN T.HE <br />COUNTY. OF ORANGE:, .NORTH G:i3.ROLINA AND E~IILDERS' <br />SUPPLY & LUMBER.CQMPANY, I:NG., FoR THE .BULLDLNG <br />AND PROPERTY AT 4Q1 VALLEY FORGE RC3AD, HILLSBOROUGH <br />WHERERS, pursuant to and .i.n satisfaction of the requirements <br />of'Section 158-7.i of the. General Statutes o= North Carolina, the <br />Bciaxd of Gamms:sioners, following a public. hearing., has <br />determined that if it Leases the building and property located. at <br />4~1 valley Forge. Road. to Builders' Supply & Lumber Company, Inc. <br />:per the Z;ease that is an exhibit to this Resolution, the' <br />consideration to.Qrange County wi1:I be equal to or greater than <br />the vaJ.ue of the lease2iold intezest to be conveyed by Orange <br />County, and more specifically that: the value of the-lease, <br />payments made: to Orange County, togethez faith the value o£ tYie <br />real. property, equ%pment, 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 th.i:s area; and <br />WFIEREAS., pursuant to and in .further sat.i s.fact.on of Secti:oii <br />158=7.1 of. the General Statutes., the Board o€ Commissioners <br />hereby determines. that the leasing of this property to Builders% <br />Supply & Lumber Company, Inc. will;_stmulate the local economy., <br />promote business, and resuilt in the .:reation of a ~uhstantial:. <br />number of jobs in the County at. or above the "median average" <br />wage iq orange County. The .median average wage projected to be. <br />paid by Bulders'.Supply at this, facility exceeds the median <br />avei~a5e wage paid by all insured private a.ndustzi~s in orange <br />1 <br />