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1792 • <br />i' <br />A RESOLUTION SUPPORTING NORTH CAROLINA'S HISTORIC <br />PRESERVATION TAX CREDIT PROGRAMS <br />WHEREAS, Cabarrus County along with other local and regional partners <br />supports the revitalization of historic downtown Concord and downtown <br />Kannapolis to establish them as vital economic sectors and for the benefit of the <br />community; and <br />WHEREAS, Cabarrus County realizes that a healthy, vibrant downtown <br />overflows to make other economic development initiatives in the community <br />easier to achieve; and <br />WHEREAS, Cabarrus County understands it is important to retain a wealth of <br />historic commercial and residential structures that offer unique opportunities by <br />differentiating our community from others and by preserving our own unique <br />history and culture, therefore we wish to preserve those structures for future use <br />and reinvestment; and <br />WHEREAS, Cabarrus County recognizes that these buildings offer opportunities <br />for small business development, job creation and desirable living spaces in an <br />environment with previously invested infrastructure; and <br />WHEREAS, the rehabilitation of historic structures is challenging in terms of <br />acquiring needed bank financing, meeting building code regulations and <br />overcoming general risks of unknown conditions and securing private investment; <br />and <br />WHEREAS, Cabarrus County recognizes that these programs offer an often <br />necessary financial tool that level the private investment risks and opportunities <br />when competing for sites outside the built area and also provide leverage needed <br />to meet financial gaps experienced with traditional lending institutions; and <br />G -6 Page 204 <br />