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AG 2017 02 20
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AG 2017 02 20
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Last modified
2/22/2017 11:54:50 AM
Creation date
11/27/2017 10:27:23 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
2/20/2017
Board
Board of Commissioners
Meeting Type
Regular
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CABARRUS COUNTY <br /> 1792 <br /> BOARD OF COMMISSIONERS <br /> r ' <br /> REGULAR MEETING <br /> O <br /> FEBRUARY 20, 2017 <br /> 6:30 P.M. <br /> AGENDA CATEGORY: <br /> New Business <br /> SUBJECT: <br /> Economic Development Investment - Project Pinecone - Public Hearing <br /> 6:30 P.M. <br /> BRIEF SUMMARY: <br /> Representatives from the Cabarrus Economic Development Corporation <br /> (EDC) will present a request for an economic development investment for <br /> Project Pinecone pursuant to NC General Statute 158.7.1 . Project <br /> Pinecone proposes a projected investment in Cabarrus County of <br /> approximately $21 million in real property and $88 million in personal <br /> property. <br /> A 5-year grant equivalent to 85 percent of the ad valorem taxes on the <br /> increase in real and personal property tax values is requested. A public <br /> hearing is required. <br /> REQUESTED ACTION: <br /> Hold a public hearing. <br /> Motion to approve an economic development investment agreement (5 <br /> years, 85 percent) between Project Pinecone and Cabarrus County, and <br /> to authorize the County Manager to execute the Agreement on behalf of <br /> the Board, subject to review or revision by the County Attorney. <br /> EXPECTED LENGTH OF PRESENTATION: <br /> 10 Minutes <br /> SUBMITTED BY: <br /> G-2 Page 119 <br />
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