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1 <br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />MARCH 21, 2011 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />' New Business <br />SUBJECT: <br />' EDC - Economic Development Grant for 390 Business Boulevard, LLC & <br />Public Hearing - 6:30 P.M. <br />BRIEF SUMMARY: <br />Representatives from the Economic Development Corp. (EDC) will <br />present a request for an economic development grant (3 years, 85 <br />percent of ad valorem taxes paid) for 390 Business Boulevard, LLC. The <br />company plans to construct a 88,527 sq. ft. Class A industrial building at <br />r 4541 Enterprise Drive in Concord. The total projected investment in real <br />estate is $6,272,964. A public hearing is required. <br />REQUESTED ACTION: <br />Hold a public hearing. <br />Consider a motion to approve or deny the Economic Development Grant <br />Agreement (3 years, 85 percent) between Cabarrus County and 390 <br />Business Boulevard, LLC; and, authorize the County Manager to execute <br />the Agreement on behalf of the Board, if needed. <br />EXPECTED LENGTH OF PRESENTATION: <br />5 Minutes <br />SUBMITTED BY: <br />Ryan McDaniels, Cabarrus EDC <br />BUDGET AMENDMENT REQUIRED: <br />No <br />G -1 Page 128 <br />