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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 8/18/08 Agenda Item # ~~~ <br />SUBJECT: <br />Industrial Development Incentive Grant -PreGel America -Public Hearing - 6:30 p.m. <br />BRIEF SUMMARY: <br />PreGel America is considering an expansion of its current location in Cabarrus County. <br />The company plans to construct a 40,000 sq. ft. facility in Concord with an expected value <br />of $12,000,000. PreGel America is the largest manufacturer of gelato specialty ingredients <br />having more than 1,000 gelato store customers. <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />1. Hold a public hearing. <br />2. Motion to approve a 3-year Industrial Development Incentive Grant for PreGel America, <br />equivalent to 85 percent of the ad valorem taxes on a total anticipated project investment <br />of $12 million and authorize the County Manager and County Attorney to conclude the <br />negotiations and execute the Agreement. <br />Attachments ^X Yes ^ No Expected Length of Presentation 5 Minutes <br />Submitted By: Samantha Moose, Cabarrus EDC Date: 7/28/08 <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 /> <br />