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Attachment 1 7 <br /> 44 <br /> It. AXE <br /> 17 5a <br /> PUBLIC HEARING <br /> Tuesday, June 6, 2023 — 7:00 PM <br /> Whitted Building <br /> 300 W. Tryon Street <br /> Hillsborough, NC 27278 <br /> NOTICE OF PUBLIC HEARING REGARDING PROPOSED ECONOMIC <br /> DEVELOPMENT INCENTIVE AGREEMENT <br /> Notice is hereby given that in accordance with North Carolina General Statute 158-7.1 the <br /> Board of Commissioners of Orange County (the "Board") will hold a public hearing on <br /> Tuesday, June 6, 2023 at 7:00 PM at the Whitted Building 300 W. Tyron St., Hillsborough, <br /> N.C. 27278. This public hearing concerns Orange County entering into an agreement with <br /> Terra Equity, Inc., for the purpose of incentivizing the Company's investment in Orange <br /> County. <br /> PERFORMANCE AGREEMENT <br /> The Board will consider the appropriation of County Article 46 Sales and Use Tax funds to <br /> offset the water/sewer utility project construction costs for the south side of Interstate 40 in <br /> the Hillsborough Economic Development District by entering into a Performance Agreement <br /> with Terra Equity, Inc., a Texas Corporation. The work is proposed to occur in two phases <br /> with the total County commitment for both project phases not to exceed Three Million One <br /> Hundred Fifty Thousand Dollars ($3,150,000). According to the proposed agreement the <br /> County will cover 50% of qualifying expenditures, or up to Two Million Two Hundred <br /> Thousand Dollars ($2,200,000) for Phase 1, proposed public gravity sewer mains that will <br /> extend the existing public sewer system from the north side of 1-40 to the south side of 1-40 <br /> via a proposed bore and jack underneath 1-40. Phase 2 of the project would cover 100% of <br /> qualifying expenditures or up to Nine Hundred Fifty Thousand Dollars ($950,000) for public <br /> water lines that will help improve public water service to the project vicinity by providing a <br /> "looping" of the existing public water mains from Old NC 86 to New Grady Brown School <br /> Road. <br /> Anyone interested in the Performance Agreement or the nature of the agreement between <br /> Orange County and Terra Equity, Inc. may appear and be heard at the public hearing. <br /> Anyone who wishes to make comments in writing prior to the public hearing may do so via <br /> email to ocbocc _orangecountync.gov. Interested persons may contact the Orange County <br /> Economic Development office at 919-245-2325 with any questions. <br />