TOWN OF FOUR OAKS SPECIAL MEETING SEPTEMBER 6, 2022 AGENDA 1) Call to Order 1) Mayor Medlin ii) County Chairman Lawter 2) Invocation and Pledge of Allegiance 3) Public Hearing - Economic Development Incentive Grant 4) Adjournment i) County Chairman Lawter ii) Mayor Medlin TOWN OF FOUR OAKS SPECIAL MEETING SEPTEMBER 6, 2022 MINUTES Call to Order Mayor Vic Medlin called the September 6, 2022 special called Town Council Meeting on an Economic Development Incentive Grant to order at 2:00 p.m. Those present included Commissioners Andy Hardy, Mike Hines, Kim Robertson, and Carles Surles. Also present were Public Works Director Barry Stanley, Town Clerk Martha Garris recording minutes and Mike Dart from FO Benson New in Review. Not present and excused Commissioner John Hatch. The meeting was aj join meeting with the. Johnston County Board of Commissioners and Chairman Butch Lawter called the County' s special meeting to order. Invocation and Pledge of Allegiance Harold Keen gave the opening Invocation with Chris Johnson leading the Pledge of Allegiance. Mayor Medlin offered opening and welcoming remarks to the County and all the guests. Public Hearing Economic Development Incentive Grant Mayor Medlin opened the Town's] public hearing for an economic incentive grant and Chairman Lawter opened the County's] public hearing for an economic incentive grant. Mayor Medlin turned the meeting over to Johnston County Economic Development Director Chris Johnson. Mr. Johnson shared this opportunity could not have been made possible without the willingness ofsome Johnston County residents to share the vision that was passed nearly 13 years ago by many toj provide better quality employment and higher paying. jobs in Four Oaks. He presented a summary ofthe proposed Economic Development Project to be located in the Four Oaks Business Park in Four Oaks, NC. Becton, Dickinson and Company will build an over $20 million state of the art 30,000 square feet class A medical manufacturing facility on NCPIN 167113-13-5379 or Parcel ID 08111078B located offt the Four Oaks Parkway. The facility will add 22. jobs with an average annual salary of$83,000. There will be no risk to Johnston County tax paying citizens, ifapproved. The Johnston County Economic Development Board asked both the Town of Four Oaks and Johnston County Board of Commissioners to consider the proposed economic development incentive grant to be awarded to Becton Dickinson. Jennifer Slusser, County Attorney, presented the resolution for the economic incentive grant for Becton Dickinson. Several factors must be considered in reviewing economic grants when making board determinations which are: job creation, the capital investment, competition, and diversification oft the economy. In order to receive the incentives, Becton, Dickinson and Company is expected to meet certain performance requirements of: capital investment not less than $20: million to develop, construct, and operate a medical manufacturing facility in the Four Oaks Business Park; and employ 20 permanent full-time employees working on the project site at an average annual salary ofr not less than $75,000 with benefits. The capital investment is estimated tol be complete by December 2024 and the job creation is expected to be completed by December 2025. Atty Slusser noted these numbers and projections are al little different from Mr. Johnson's s numbers, that is because this is the minimum investment and we expect the investment to exceed the minimums. The incentive proposal ini the resolution is a cash grant that will only be made once the minimum capital investment is reached and paid tol Becton Dickinson once all ad valorem taxes have been paid and received with respect to the eligible investments placed on the project site. Atty Slusser presented the county's incentive. She did confirm that each oft the four factors listed were being met with new permanent jobs, the $20 million plus capital investment will increase the tax base for the Town and County, and this was a competitive situation with other locations and due to the incentives being offered Becton Dickinson did choose the Four Oaks Business Park in Johnston County otherwise they may have chosen different location. The Town of] Four Oaks incentive grant proposed was: Provided that the required minimum investment has been made and that the applicable incremental employment level or required minimum employment has been attained and maintained, and further provided the Company isi in compliance with terms oft the written economic development agreement, grants will be paid only upon ad valorem taxes actually paid and received with respect to eligible investments placed on the Project Site through the two (2)-year grant period, with ai minimum required investment of the Town taxes actually paid and received for the 2 year period. IfCompany elects to begin the grant period based on ad valorem taxes paid for the 2025 tax year, Year 1 shall mean calendar year 2025 and Year 2 shall mean calendar year 2026. The grants shall not include Town fire tax, and the Company shall be responsible for paying the applicable Town fire tax. The town will reimburse 100% ofthe town real and personal property ad valorem taxes for 2 years. Travis Anderson, Vice President for Becton, Dickerson and Company, thanked the Town and County for the consideration oft the company's expansion which seems to be the proper location given the location of the distribution center. Chairman Lawter asked for any public comments. Sam Austin, resident, inquired what would be produced at the facility, will it be environmentally sound, and what effect will it have on the air and water quality. Mr. Anderson responded this will be a sterilization facility for manufacturing products, they will use an electronic beam SO there will be no radioactive materials to be managed and: no hazardous chemicals used ini the process. The products are received palletized, they are run under a sterilization unit, and when done the products are sterile and go directly to the distribution facility. This is the most sustainable method ofs sterilization today and is the way of the future. Seeing no: further public comments, both Mayor Medlin and County Chairman Lawter closed the public hearing sessions, respectfully. The County proceeded to approve its Economic Development Incentive Grant. Mayor Medlin entertained a motion from the Town Council. Motion to approve the Economic Development Incentive Grant agreement for the Town was: made by Commissioner Hardy, Mayor Medlin and Chairman Lawter gave few closing remarks each and thanked Becton seconded by Commissioner Surles, voting unanimous. Dickenson in their investment and all the guests in attendance. Adjournment With no further business brought before the Town Council, motion to adjourn at 2:25 pm was made by Commissioner Hardy, second by Commissioner Hines, voting unanimous. Chairman Lawter called for a motion to adjourn the County's special called meeting. ATTEST: PABNSSD Martha L. Garris, NCCMC Town Clerk Vic a