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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />AUGUST 19, 2013 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />EDC - Economic Development Grant Request for Windshear - Public <br />Hearing 6:30 P.M. <br />BRIEF SUMMARY: <br />Representatives from the Economic Development Corporation (EDC) will <br />present a request for an economic development grant for Windshear <br />pursuant to NCGS 158 -7.1. Windshear proposes to expand its current <br />operation in Cabarrus County, with a projected investment of $5 million for <br />facility expansion and creation of approximately seven (7) jobs. A three - <br />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 />Hold a public hearing. <br />Motion to approve an Economic Development Grant (3 years, 85 percent) <br />between Windshear and Cabarrus County, and authorize the County <br />Manager to execute the Agreement on behalf of the Board, subject to <br />review and /or revisions by the County Attorney. <br />EXPECTED LENGTH OF PRESENTATION: <br />10 Minutes <br />SUBMITTED BY: <br />Carroll Gray, Cabarrus Economic Development Corporation <br />BUDGET AMENDMENT REQUIRED: <br />H -1 Page 233 <br />