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CABARRUS COUNTY <br /> 1792 <br /> - BOARD OF COMMISSIONERS <br /> REGULAR MEETING <br /> NOVEMBER 20, 2017 <br /> 6:30 P.M. <br /> AGENDA CATEGORY: <br /> New Business <br /> SUBJECT: <br /> Economic Development Investment - Project Mix - 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 Mix pursuant to NC General Statute 158.7.1 . Project Mix proposes <br /> a projected taxable investment in Cabarrus County of approximately $14 <br /> million over four years which is $9 million in real property (110,000 sq. ft. <br /> which includes 10,000 sq. ft. freezer) and $5 million in personal property <br /> (five manufacturing lines). <br /> A three-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 /> Motion to approve an economic development investment agreement <br /> (three-year, 85 percent) between Project Mix 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 /> 5 Minutes <br /> SUBMITTED BY: <br /> LeeAnn Nixon, EDC <br /> G-1 Page 247 <br />