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12 <br /> Slide #3 <br /> Background <br /> • PFPC operates as an incubator, accelerator,and shared kitchen/co-working space <br /> • County owns the land,the facility,and fixed equipment <br /> — Land and building is valued at$965,100 <br /> • Original lease was approved in 2012 <br /> — Rent was scaled to reach$26,0b0 by September 2016 <br /> • Rent was waived by the Board of Commissioners starting in July of 2016 <br /> • Lease was converted into a Management Services Agreement in 2021 for a term of two years <br /> ORANGE COUNTY <br /> .y FYC7ItrH CiAPf3L-jIVA <br /> Slide #4 <br /> Background <br /> • Frequently Asked Questions FAQ}prepared by PFPC and included in Board packet addresses <br /> — Clients and tenure <br /> — Services provided <br /> — Capacity <br /> Work with local farmers <br /> — Funding <br /> Economicimpact <br /> * Board packet also includes profit and loss statement and balance sheet prepared by PFPC <br /> ORANGE COUNTY <br /> 4 FYC]Itrul CJ PICMAIVA <br />