HomeMy WebLinkAboutRES-1996-059 Resolution approving a Lease Agreement between Orange County and Builders' Supply & Lumber Company, Inc. „-•9;.90
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RESOLUTION APPROVING A LEASE AGREEMENT BETWEEN' THE
COUNTY OF ORANGE, NORTH CAROLINA AND BUILDEP:S'
SUPPLY & LUMBER COMPANY, INC. , FOR THE BUILDING
AND PROPERTY AT 401 VALLEY FORGE ROAD, HILLSBOROUGH
WHEREAS, pursuant to and in satisfaction of the requirements
of Section 258-7 . 1 of the General Statutes of North Carolina, the
Board of Commissioners, following a public hearing, has
determined that if it leases the building and property located at
401 Valley Forge Road to Builders ' Supply & Lumber Company, Inc.
per the Lease that is an exhibit to this Resolution, the
consideration to Orange County will be equal to or greater than
the value of the leasehold interest to be conveyed by Orange
County, and more specifically that: the value of the lease
payments made to Orange County, together with the value of the
real property, equipment, and sales taxes paid to Orange County
as the result of the Lease, will be equal to or greater than the
fair market value of the interest conveyed, as determined by a
market survey of similar facilities in this area; and
WHEREAS, pursuant to and in further satisfaction of Section
158-7 . 1 of. the General Statutes, the Board of Commissioners
hereby determines that the leasing of this property to Builders'
Supply & Lumber Company, Inc. will stimulate the local economy,
promote business, and result in the creation of a substantial
number of jobs in the County at or above the "median average”
wage. in Orange County. The median average wage projected to be
paid by Builders ' Supply at this facility exceeds the median
average wage paid by all insured private industries in orange
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County, according_ to the latest available data of the Employment
Security Commission of North Carolina.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners
for the County of Orange, North Carolina:
1 . that it hereby approves the Lease Agreement in
substantially the form as the Exhibit to this resolution;
2 . Officers and employees of the County are authorized and
directed (without limitation except as may be expressly set forth
herein) to make such changes to the Lease Agreement, to take such
other actions and to execute and deliver such other documents,
certificates, undertakings, agreements or other instruments as
they, with the advice of counsel, may deem necessary or
appropriate to effectuate the lease transaction contemplated by
the Lease Agreement.
Upon motion duly made and seconded, the foregoing resolution
was passed by the following votes :
Ayes : Commissioners Moses Carey, Jr. , Stephen H. Halkiotis, William
L. Crowther, Don Willhoit and Alice M. Gordon
Noes : NONE
I, Beverly A. Blythe, Clerk to the Board of Commissioners
for the County of Orange, North Carolina, DO HEREBY CERTIFY that
the foregoing has been carefully copied from the recorded minutes
of the Board of Commissioners for said County at a regular
meeting of said Board held on November 19 , 1996, said record
having been made in the Minute Book of the minutes of said Board,
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and is a true copy of so much of said proceedings of said Board
as relates in any way to the passage of the resolution described
in said proceedings .
WITNESS my hand the corporate seal of said County, this
19thday of November , 1996.
Clerk to e Board of Cowffissioners
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