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6 <br /> RES-2022-026 Attachment 1 <br /> ORANGE COUNTY BOARD OF COMMISSIONERS <br /> RESOLUTION LEASING PROPERTY UP TO TEN YEARS <br /> Whereas, Orange County owns properties located at 501 W. Franklin Street, Chapel Hill, <br /> NC 27517 (PIN 9788 15 1996), 503 W. Franklin Street, Chapel Hill, NC 27517 (PIN 9788 <br /> 15 1829), 108 S. Roberson Street, Chapel Hill, NC 27517 (PIN 9788 15 2822), (the <br /> "Premises"); and <br /> Whereas, Well Dot, Inc., a Delaware Corporation with health care operation facilities in <br /> Chapel Hill, North Carolina, desires to lease the Premises to expand its business in North <br /> Carolina; and <br /> Whereas, the Premises will not be needed for Orange County operations during the term <br /> of such lease; and <br /> Whereas, North Carolina General Statute 160A-272 authorizes the lease of county- <br /> owned properties for terms of up to ten years upon resolution of the Board of <br /> Commissioners at a regular meeting after thirty (30) days' public notice and North <br /> Carolina General Statute 158-7.1 also authorizes the lease of county-owned properties <br /> subject to public notice, which public notice has been published; and <br /> Whereas, in consideration of the economic development opportunities including the <br /> creation of 360 new full time jobs, at an annual salary of Sixty Three Thousand Six <br /> Hundred Sixty Five dollars ($63,665.00) plus benefits, and new capital investment in <br /> Orange County of $3,493,600, the Board of Commissioners of Orange County desires to <br /> lease the Premises to Well Dot, Inc., for a base rental fee of Thirty Three Thousand Seven <br /> Hundred Fourteen Dollars and Sixty-seven Cents ($33,714.67) per month, the fair market <br /> value lease rate, for a ten (10) year term with two optional renewal terms of five (5) years, <br /> with such renewal subject to additional Board of Commissioner approvals and granting <br /> an option to purchase to Well Dot, Inc., as described in the Lease and as authorized by <br /> North Carolina General Statute 158-7.1. <br /> THEREFORE BE IT RESOLVED, that Board of County Commissioners of Orange <br /> County hereby approves the lease of the county property described above to Well Dot, <br /> Inc., for a term of ten (10) years commencing subsequent to a 120 day inspection period <br /> with a two potential renewal terms of five years each and directs the execution, <br /> recordation, and filing of all necessary instruments accordingly. <br /> This the 24t" Day of May, 2022. <br /> Renee Price, Chair <br /> Orange County Board of Commissioners <br />