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35 <br /> Orange County's Performance-Based Incentive <br /> • Performance-based grant is calculated at 75% of actual net-new business <br /> and real property tax investment valuation, for 5 years. (Same incentive <br /> formula as previously approved by the BOCC for ABB, Medline Industries, <br /> and Morinaga). <br /> • The purchase of the former Mid-Atlantic STIHL Inc. building that is already <br /> taxed by Orange County, is not included in the calculation. Only the net-new <br /> investment in personal property (machinery & equipment), and $500,000 to <br /> $1 ,000,000 in additional real property (for improvements to the existing <br /> building to be purchased) is proposed to receive an incentive. <br /> • Estimated 5-year incentive total is $100,433 <br /> • During the first 10 years of operation, CITEL's investment is estimated to <br /> create up to $263,313 in total gross property tax valuation, and $162,800 in <br /> net valuation for the County. <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> 10 <br />