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1 <br />�I <br />0 <br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />FEBRUARY 21, 2011 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />EDC - Economic Development Grant Request for S.P. Richards Company <br />& Public Hearing - 6:30 P.M. <br />BRIEF SUMMARY: <br />EDC staff will present information related to an economic development <br />grant request for S.P. Richards Company. <br />S. P. is considering constructing a new 200,000 square foot facility in <br />County at an estimated cost of $10,000,000.00 and by installing furniture, <br />fixtures and equipment in the facility at an estimated cost <br />of $1,800.000.00 for a total estimated cost of $11,800,000.00 and by <br />creating sixty -six (66) new jobs within the County. <br />The EDC Board of Directors approved the project on January 25, 2011. A <br />public hearing is required. <br />REQUESTED ACTION: <br />Hold a public hearing. <br />Motion to approve a 3 -year 85 percent economic development grant for <br />Genuine Parts Company, dba, S.P. Richards Company. <br />EXPECTED LENGTH OF PRESENTATION: <br />5 Minutes <br />' SUBMITTED BY: <br />Ryan McDaniels, Cabarrus EDC <br />Kay Honeycutt, Clerk to the Board <br />I G -1 Page 100 <br />