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<br />CABARRUS COUNTY <br />,~~' `~, BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />., <br />~~c APRIL 20, 2009 <br />6.30 P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance -Authorization of Lease and Agency Agreement Between <br />Cabarrus County and Cabarrus County Schools for the Northwest Area <br />Middle School Site <br />BRIEF SUMMARY: <br />On April 6, 2009, the Cabarrus County Board of Education approved the <br />lease and agency agreement between the School Board and Cabarrus <br />County. The County will hold title to the property for twenty years until the <br />debt issued to construct the new facility is retired. The Cabarrus County <br />Board of Education will lease the property for $1 per year for the life of the <br />20 year lease. <br />REQUESTED ACTION: <br />Motion to approve and authorize the chairman to execute the Lease and <br />Agency Agreement between Cabarrus County (Lessor) and the Cabarrus <br />County Board of Education (Lessee) for the Northwest Area Middle <br />School site, pending attorney review. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan B. Fearrington, Assistant Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />No <br />COUNTY MANAGER'S RECOMMENDATIONS/COMMENTS: <br />This item was approved by the Board for inclusion on the Agenda as a <br />Consent item. Approval is recommended. Page 106 of 320 <br />F-9 <br />