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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 3/26/07 Agenda Item # <br />SUBJECT: <br />Budget Amendment -Financial Support for Efforts to Retain the NASCAR NEXTEL <br />All-Star Challenge at Lowe's Motor Speedway - $20,000 <br />BRIEF SUMMARY: <br />The NASCAR All-Star Race has a major economic impact in Cabarrus County and the <br />surrounding area (over $100 million). Last year, a committee comprised of area local <br />government representatives and several other organizations engaged in an effort to <br />enhance the event and maximize the positive impact of the race to ensure its continuation <br />at Lowe's Motor Speedway. The County contributed $20,000 in support last fiscal year <br />and is being requested to fund the same amount this year. <br />REQUESTED ACTION: (Suggested motion tf the Board approves the agenda item as presented) <br />Adopt budget amendment. <br />Attachments ^X Yes ^ No Expected Length of Presentation <br />Submitted By: Jonathan Marshall, Commerce Director Date: 2/28/07 <br />Budget Amendment Required: ^X Yes ^ No <br />Budget Amendment Attached and Reviewed by Budget Officer: 0 Yes ^ Na <br />County Manager's Recommendations/Comments: <br />This item was approved by the Board for inclusion on the Agenda as a Consent item. <br />Approval is recommended. <br />Action Taken: <br />Approved [ ] Deferred [ ] <br />Denied [ ] Other [ ] <br />~'-~°1 <br />