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CABARRUS COUNTY <br /> 1792 <br /> BOARD OF COMMISSIONERS <br /> ir REGULAR MEETING <br /> SEPTEMBER 18, 2017 <br /> 6:30 P.M. <br /> AGENDA CATEGORY: <br /> New Business <br /> SUBJECT: <br /> Economic Development Investment - Project Ali - Public Hearing 6.30 <br /> 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 Ali pursuant to NC General Statute 158.7.1 . Project Ali proposes a <br /> projected taxable investment in Cabarrus County of approximately $6.4 <br /> million in personal property. <br /> A one-year grant equivalent to 85 percent of the ad valorem taxes on the <br /> increase in personal property tax values is requested. A public hearing is <br /> required. <br /> REQUESTED ACTION: <br /> Hold a public hearing. <br /> Motion to approve an economic development investment agreement (one <br /> year, 85 percent) between Project Ali and Cabarrus County, and to <br /> authorize the County Manager to execute the agreement on behalf of the <br /> Board, subject to review or revision by the County Attorney. <br /> EXPECTED LENGTH OF PRESENTATION: <br /> 5 Minutes <br /> SUBMITTED BY: <br /> Robert Carney, Jr., EDC <br /> G-1 Page 95 <br />