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CABARRUS COUNTY <br />* <br />REGULAR MEETING <br />JUNE 15 2015 <br />1 <br />�A CA1Lp 1�1�I <br />• P .M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />BOC - Royal Oaks Elementary School Agency Agreement and Title <br />Transfer <br />BRIEF SUMMARY: <br />The title for the Royal Oaks Elementary School property is currently in the <br />name of the Cabarrus County Board of Education. Attached is a Special <br />Warranty Deed where the Board of Education (BOE) would transfer the <br />title of the Royal Oaks Elementary School to Cabarrus County. By having <br />the title of this property in the name of the county, the project (construction <br />and outfitting of the replacement school) will receive sales tax <br />reimbursements from the State. <br />The Agency Agreement, among other items, allows the County to appoint <br />the BOE as its agent in connection with the construction of the Royal <br />Oaks School replacement. The BOE shall cause the Project to be <br />completed in accordance with the respective construction documents and <br />any applicable requirements of governmental authorities and law. The <br />County and the BOE agree that all amounts received as refunds of State <br />sales tax, with respect to expenditures made in connection with the <br />Project, will be deposited as funds available for the acquisition and <br />construction of the Project. <br />REQUESTED ACTION: <br />Motion to approve the Royal Oaks Elementary School Agency Agreement, <br />subject to review and /or revision by the Count Attorney. <br />Motion to approve the receipt of the property title transfer. <br />F -2 Page 61 <br />