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Agenda - 09-10-19 Item 1 - Public Hearing Regarding an Economic Development Recruitment Incentive for Medline Industries, Inc. (Project Tomorrow)
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Agenda - 09-10-19 Item 1 - Public Hearing Regarding an Economic Development Recruitment Incentive for Medline Industries, Inc. (Project Tomorrow)
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9/5/2019 4:05:56 PM
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BOCC
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9/10/2019
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Special Meeting
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Agenda
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1
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Agenda - 09-10-19 Special Meeting
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32 <br /> Outline of Orange Countv's Performance-Based Incentive <br /> — County's proposed incentive of $1, 840,967 will be paid in 5 <br /> annual installments over 5 years of Medline's start-up operation. <br /> — Performance based, and will be measured annually against <br /> verification of Medline's actual history to create 250 jobs and <br /> invest $65,300, 000 in new property valuation over each of the <br /> initial 5 years, as proposed. <br /> — Net property tax revenue collected is positive in all years, after <br /> paying the annual incentive; ($1, 151, 003 net revenue in first 6 <br /> years; and, $3.2 million in first 10 years) <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />
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