Orange County NC Website
Browse       Search
10 <br /> 1 Slide #10 <br /> Recommendation <br /> Conduct the public hearing <br /> Approve the performance based incentive agreement between Orange County and Terra Equity, <br /> Inc.and authorize the Chair to sign the Performance Agreement on behalf of the County <br /> Approve Budget Amend merit#1 OA <br /> — Repurpose S2,345,857in unspent, available funds in the HillsWrough ECra preiev and an a0ditiorLW 554A,1413 <br /> unspenl avaiWble funds in the Eno EDD project <br /> Create RTLP EDD Capilal Pra>ll L Ordinance hinded at S3.150..i0 <br /> ORANGE COUNFY <br /> 10 NC>RTl{C:.RUI_➢iF A <br /> 2 <br /> 3 Commissioner Portie-Ascott asked if there is a schedule of deliverables that will be <br /> 4 associated with the payment. <br /> 5 Travis Myren said they do not have the schedule, but they will get one. <br /> 6 Commissioner Hamilton asked how long it will take for the full buildout. She asked about <br /> 7 if the buildout would be just buildings or buildings and businesses that use the facility. <br /> 8 Travis Myren said it will take 36 months for the total build out. He said that the property <br /> 9 will be taxable no matter if there is a tenant on the property. <br /> 10 Commissioner Hamilton asked if the value of the property increases as tenants occupy <br /> 11 the building. <br /> 12 Travis Myren said the county will get more personal property tax, but that the real property <br /> 13 value would not change. <br /> 14 <br /> 15 A motion was made by Vice-Chair McKee, seconded by Commissioner Fowler, to open <br /> 16 the public hearing. <br /> 17 <br /> 18 VOTE: UNANIMOUS <br /> 19 <br /> 20 PUBLIC COMMENT: <br /> 21 There no one was signed up to speak. <br /> 22 <br /> 23 A motion was made by Commissioner Greene, seconded by Commissioner Hamilton, to <br /> 24 close the public hearing. <br /> 25 <br /> 26 VOTE: UNANIMOUS <br /> 27 <br /> 28 A motion was made by Vice-Chair McKee, seconded by Commissioner Hamilton, to <br /> 29 approve the performance-based incentive agreement between Orange County and Terra Equity, <br /> 30 Inc., subject to final review by the County Attorney, and authorize the Chair to sign the <br /> 31 Performance Agreement on behalf of the County; and to approve Budget Amendment#10-A. <br /> 32 <br />