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CABARRUS COUNTY <br />w <br />BOARD OF COMMISSIONERS <br />*1 REGULAR MEETING <br />pT�C CAR l O DECEMBER 14 20 <br />1 <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />EDC - Economic Development Grant Request for Project Deliver - 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 Deliver pursuant to NCGS 158 -7.1. Project Deliver proposes to <br />create 45 full -time and 241 part -time jobs in Cabarrus County with a <br />projected investment of approximately $26.8 million in facility <br />improvements. A 3 -year grant equivalent to 85 percent of the ad valorem <br />taxes on the increase in real and personal property tax values in <br />requested. A public hearing is required. <br />REQUESTED ACTION: <br />Hold a public hearing. <br />Motion to approve an Economic Development Grant (3 years, 85 percent) <br />between Project Deliver and Cabarrus County, and to authorize the <br />County Manager to execute the agreement on behalf of the Board, subject <br />to review or revision by the County Attorney. <br />EXPECTED LENGTH OF PRESENTATION: <br />10 Minutes <br />SUBMITTED BY: <br />Cabarrus EDC <br />G -2 Page 347 <br />