My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
AG 2008 03 24
CabarrusCountyDocuments
>
Public Meetings
>
Agendas
>
BOC
>
2008
>
AG 2008 03 24
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
2/1/2009 12:20:40 PM
Creation date
11/27/2017 11:28:06 AM
Metadata
Fields
Template:
Meeting Minutes
Doc Type
Minutes
Meeting Minutes - Date
3/24/2008
Board
Board of Commissioners
Meeting Type
Regular
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
133
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
,~ i <br />-i <br />.. <br />STATE OF NORTH CAROLINA <br />COUNTY OF CABARRUS <br />DQaI~~ <br />INCENTIVE GRANT AGREEMENT <br />(FlyRight, Inc.) <br />THIS AGREEMENT (the "Agreement") is made and entered as of the day <br />of , 2008, by and between CABARRUS COUNTY, a body politic and <br />political subdivision of the State of North Carolina ("County"), and FLYRIGHT, INC. <br />("FlyRight"), a North Carolina corporation. <br />RECITALS <br />1. FlyRight is considering locating a flight simulator facility in County (the <br />"Facility") by upgrading an existing building to serve as the Facility in County and by <br />installing furniture, fixtures and equipment in the Facility at an estimated total cost of <br />Twelve Million Dollars ($12,000,000.00) (collectively referred to as "New Investment"). <br />2. The County has previously adopted an Industrial Development Grant <br />Program (the "Program"), a copy of which is attached as Exhibit A and incorporated by <br />reference, the public purpose of which is to encourage economic growth and <br />development within the County. <br />3. Cabarrus Economic Development, Inc. (the "EDC") has reviewed the <br />FlyRight application for inclusion in the Program and EDC's overview is attached as <br />Exhibit B and incorporated by reference. <br />4. FlyRight has determined that location of its facility in the Westwinds <br />Business Park in Concord, North Carolina (the "Site") in the County is a suitable location <br />for the placement of the Facility and the New Investment. <br />5. To induce FlyRight to locate the New Investment in the Facility at the Site <br />and to assist FlyRight in that activity, the County has offered incentives to FlyRight <br />consistent with the Program. <br />In consideration of the mutual promises set forth in this Agreement and other <br />good and valuable considerations, the receipt and sufficiency of which are acknowledged <br />by the parties, the County and FlyRight agree as follows: <br />COVENANTS, TERMS and CONDITIONS <br />1. Incentive Grants. Pursuant to the Program, the County shall in <br />accordance with and as provided by this Agreement, pay to FlyRight an incentive grant <br />(the "Grants") in an amount equal to 85 percent of the increase in property tax paid by <br />FlyRight upon the actual assessed ad valorem tax value increase occasioned by <br />construction and equipment installation of the New Investment in the Facility at the Site. <br />The County shall pay Grants to FlyRight as follows: <br />lS-~ <br />
The URL can be used to link to this page
Your browser does not support the video tag.