PUBLIC NOTICE Notice is hereby given by the Limestone County Commission pursuant to §94.01 of the Constitution of Alabama of 1901, as amended, that at a specially called meeting on October 9, 2015, at 9:00 A.M. (the Special Meeting), in the City Council Chambers for the City of Athens, Alabama, located in the Athens Police Department for the City of Athens, Alabama, located at 951 Hobbs Street E. in Athens, Alabama, the Limestone County Commission will meet jointly with the City Council for the City of Athens, Alabama, to consider adoption of one or more resolution(s), as may be necessary, concerning an Economic Development Project Agreement by and among the City of Athens, Alabama (the City), Limestone County, Alabama (the County), and Shape Corp. (Shape), a corporation under the laws of the State of Michigan (the Agreement). Shape proposes to construct a facility for the manufacture of injection molded plastics and metal stamping/rollforming, with not less than 100,000 square feet of manufacturing and related office space, and to employ at least 170 persons in connection therewith (the Project). The Project is intended to be constructed on certain real property of approximately 34.35 acres in Limestone County, Alabama, lying in the City of Athens, Alabama, and located north of and along Roy Long Road, and immediately to the west of a railroad that abuts the property, which real property is owned by the City (the Property). Under separate action and ordinance of the City, the City will consider transferring the Property to the City of Athens Industrial Development Board to allow said Board to subsequently enter into a lease-purchase agreement with Shape whereby the said Board will lease the Property to Shape then sell the Property to Shape at the conclusion of the lease term and with rent for the lease term being $200,000.00. The County will not be a party to the lease-purchase agreement. At the Special Meeting the County will consider a resolution to approve the Agreement. Pursuant to the Agreement, upon confirmation that Shape has employed 87 full-time employees at an average wage of $40,000.00 during the prior year of the Project, the City will pay Shape $60,000.00 and the County will pay Shape $40,000.00. Thereafter, once Shape employs an additional 83 full-time employees, for a total of at least 170 employees, and at the same average annual wage of $40,000.00 during the prior year, the City will pay Shape $60,000.00 and the County will pay Shape $40,000.00. These payments shall be subject to further terms in the Agreement regarding the maintenance of the full-time employees and jobs over a certain period of time. The payments of the County are being made for the purpose of incentivizing Shape to locate certain of its manufacturing operations at the real property in Limestone County, and, by considering the aforementioned agreement, payments, and resolution(s), the Limestone County Commission seeks to provide a public benefit to the persons and citizens of Limestone County, Alabama, by promoting, improving and expanding economic and industrial development in the County, by increasing the number and diversity of industrial jobs and related employment opportunities in the County, by enabling the County to better retain, attract and locate other industrial enterprises, by expanding the overall tax base of Limestone County, and by enhancing the overall quality of life for the citizens of the County. The covenants, agreements and payment(s) from the County under the agreement are a proposed grant of public funds and things of value for the benefit of Shape Corp., a Michigan corporation. This is an economic development project and is described in reasonable detail in this Notice. The Limestone County Commission The News Courier October 2, 2015
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