Minutes-06-06-2023-Business Meeting Con'd

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10 Slide #10 Recommendation • Conduct the public hearing • Approve the performance based incentive agreement between orange County and Terra Equity, Inc.and authorize the Chair to sign the Performance Ag reement on behalf of the County • Approve Budget Amend ment#1 OA — Repurpose 52,345.657in unspent, available funds in the HiNsWrough ERR prgect and on additional$UW.143 ur►spern. avaira4le funds in the Eno EL)D project Create RTLP EDD Caplml Prgecf Ordlnance funded at$3.150.MO GRANGE COUNTY 10 r CORr[[CAROLINA Commissioner Portie-Ascott asked if there is a schedule of deliverables that will be associated with the payment. Travis Myren said they do not have the schedule, but they will get one. Commissioner Hamilton asked how long it will take for the full buildout. She asked about if the buildout would be just buildings or buildings and businesses that use the facility. Travis Myren said it will take 36 months for the total build out. He said that the property will be taxable no matter if there is a tenant on the property. Commissioner Hamilton asked if the value of the property increases as tenants occupy the building. Travis Myren said the county will get more personal property tax, but that the real property value would not change. A motion was made by Vice-Chair McKee, seconded by Commissioner Fowler, to open the public hearing. VOTE: UNANIMOUS PUBLIC COMMENT: There no one was signed up to speak. A motion was made by Commissioner Greene, seconded by Commissioner Hamilton, to close the public hearing. VOTE: UNANIMOUS A motion was made by Vice-Chair McKee, seconded by Commissioner Hamilton, to approve the performance-based incentive agreement between Orange County and Terra Equity, Inc., subject to final review by the County Attorney, and authorize the Chair to sign the Performance Agreement on behalf of the County; and to approve Budget Amendment#10-A.