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RES -202M26 ` q/ 6 4 �) 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 160X272 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 158J . 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 by December 31 , 2025 , at an annual salary of Sixty <br /> Three Thousand Six Hundred Sixty Five dollars ($ 63 , 665 . 00 ) plus benefits , and new <br /> capital investment in Orange County of $ 3 , 493 , 600 , the Board of Commissioners of <br /> Orange County desires to lease the Premises to Well Dot , Inc . , for a base rental fee of <br /> Thirty Three Thousand Seven Hundred Fourteen Dollars and Sixty-seven Cents <br /> ($ 33 , 714 . 67 ) per month , the fair market value lease rate , for a ten ( 10 ) year term with two <br /> optional renewal terms of five ( 5 ) years , with such renewal subject to additional Board of <br /> Commissioner approvals and granting an option to purchase to Well Dot , Inc . , as <br /> described in the Lease and as authorized by North Carolina General Statute 158J . 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 24th Day of May , 2022 . r <br /> Renee Price , Chair <br /> Orange County Board of Commissioners <br />