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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />OCTOBER 18, 2010 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />EDC - Economic Development Public Investor Agreement, Program Update <br />and Budget Amendment - $50,000 <br />BRIEF SUMMARY: <br />The following Economic Development Public Investor Agreement between <br />the County and Cabarrus Economic Development Inc., identifies the provision <br />of certain economic development related services for the period of November <br />1,2010 - June 30, 2011 in exchange for payment of (up to) $21,833.33 per <br />month. This Agreement was approved by EDC representatives on behalf of <br />the EDC Board of Directors. <br />Further, the Board will receive an update on various economic development <br />related activities, pursuant to Section D, Other Duties and Conditions, Item <br />No. 1. <br />REQUESTED ACTION: <br />Consider a motion to approve the Economic Development Public Investor <br />Agreement between Cabarrus County and the Cabarrus Economic <br />Development Inc.for the period of November 1,2010 - June 30, 2011 in <br />exchange for payment of (up to) $21,833.33 per month and to adopt the <br />related budget amendment. <br />Further, receive report from EDC representative(s) as stipulated in the <br />Agreement. <br />EXPECTED LENGTH OF PRESENTATION: <br />15 Minutes <br />G -3 Page 491 <br />