Laserfiche WebLink
CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />APRIL 20, 2015 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />EDC - Economic Development Grant Request for Project Roy - Public <br />Hearing 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 grant for <br />Project Roy pursuant to NCGS 158 -7.1. Project Roy proposes to expand <br />and consolidate its company operations in Cabarrus County, with a <br />projected investment of approximately $12.5 million for facility and <br />equipment upgrades and the consolidation of approximately 176 jobs. A <br />5 -year grant equivalent to 85% of the ad valorem taxes on the increase in <br />real and 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 Grant (5 years, 85 percent) <br />between Project Roy and Cabarrus County, and to authorize the County <br />Manager to execute the Agreement on behalf of the Board, subject to <br />review or revision by the County Attorney. <br />EXPECTED LENGTH OF PRESENTATION: <br />10 Minutes <br />SUBMITTED BY: <br />Margie Bukowski, EDC Senior Vice President of Economic Development <br />G -1 Page 115 <br />