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CABARRUS COUNTY <br /> 1792 <br /> BOARD OF COMMISSIONERS <br /> ir REGULAR MEETING <br /> OCTOBER 16, 2017 <br /> 6:30 P.M. <br /> AGENDA CATEGORY: <br /> New Business <br /> SUBJECT: <br /> Economic Development Investment — Project Secure — 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 Secure pursuant to NC General Statute 158.7.1 . Project Secure <br /> proposes a projected taxable investment in Cabarrus County of <br /> approximately $13.5 million in personal property. A three-year grant <br /> equivalent to 85 percent of the ad valorem taxes on the increase in <br /> personal property tax values is requested. A public hearing is required. <br /> REQUESTED ACTION: <br /> Hold a public hearing. <br /> Motion to approve an economic development investment agreement <br /> (three year, 85 percent) between Project Secure and Cabarrus County, <br /> and to authorize the County Manager to execute the agreement on behalf <br /> of the Board, subject to review or revision by the County Attorney. <br /> EXPECTED LENGTH OF PRESENTATION: <br /> 5 Minutes <br /> SUBMITTED BY: <br /> LeeAnn Nixon, EDC <br /> BUDGET AMENDMENT REQUIRED: <br /> G-1 Page 70 <br />