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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 1/22/08 <br />Agenda Item # G - <br />SUBJECT: <br />Industrial Development Incentive Grant Request -Fly Right Inc. -Public Hearing - 6:30 <br />p.m. <br />BRIEF SUMMARY: <br />Fly Right Inc. is considering relocating to a site in Cabarrus County. The company would <br />upfit an existing building in Concord with an expected investment of $ 4,000,000. Fly Right <br />Inc. is a flight simulator-based training provider. The EDC Board voted 8 to 4 to endorse <br />the incentive request. <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />1. Hold public hearing. <br />2. Motion to authorize or deny a 3-year incentive grant to Fly Right, Inc., equivalent to 85 <br />percent of the ad valorem taxes on the total project investment projected at $4 million, and, <br />if approved, authorize the County Manager and the County Attorney to conclude <br />negotiations and execute the agreement. <br />Attachments ^X Yes ^ No Expected Length of Presentation 5 Minutes <br />Submitted By: Ryan McDaniels, Cabarrus EDC <br />Date: 1 /4/08 <br />Name /Job Title <br />Budget Amendment Required: ^ Yes ^ No <br />Budget Amendment Attached and Reviewed by Budget Officer: ^ Yes ^ No <br />County Manager's Recommendations/Comments: <br />This item was approved by the Board for inclusion on the Agenda as a New Business item. <br />Action Taken: <br />Approved [ ] Deferred [ ] <br />Denied [ ] Other [ ] <br />C~1-I <br />