My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
AG 2007 06 18
CabarrusCountyDocuments
>
Public Meetings
>
Agendas
>
BOC
>
2007
>
AG 2007 06 18
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/26/2007 2:40:23 PM
Creation date
11/27/2017 11:30:53 AM
Metadata
Fields
Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/26/2007
Board
Board of Commissioners
Meeting Type
Regular
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
366
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
STATE OF NORTH CAROLINA <br />INCENTIVE GRANT AGREEMENT <br />COUNTY OF CABARRUS (Great Wolf Resorts, Inc. ) <br />THIS AGREEMENT (the "AgreemenY') is made and entered as of the _ day <br />of June, 2007, by and between CABARRUS COIJNTY, a body politic and political <br />subdivision of the State of North Carolina ("County"), and GREAT WOLF RESORTS, <br />INC. ("Great Wolf Resorts"), a Wisconsin corporation. <br />RECITALS <br />1. Great Wolf Resorts is considering locating a new facility in CounTy (the <br />"Facility") at an estimated cost of One Hundred Million Dollazs ($100,000.000.00) (the <br />"New Real Property InvestmenY') and by creating four hundred (400) new jobs within <br />the County. <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. The program was amended in 2006. <br />3. Cabarrus Economic Development, Ina (the "EDC") has reviewed the <br />Great Wolf Resorts application for inclusion in the Program and EDC's overview is <br />attached as Exhibit B and incorporated by reference. <br />4. Great Wolf Resorts has determined that the location of its facility on <br />Weddington Road Extension in Concord, North Carolina (the "Site") in the County is a <br />suitable location for the placement of the Facility and the New Investment. <br />5. To induce Great Wolf Resorts to locate the New Investment in the Facility <br />at the Site and to assist Great Wolf Resorts in that activity, the County has offered <br />incentives to Great Wolf Resorts consistent with the Program, but with a waiver as to the <br />length of time and percentage amount of the incentive grant. <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 Great Wolf Resorts 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 Great Wolf Resorts an <br />incentive gant (the "Grants") in an amount equal to 85 percent of the increase in <br />property tax paid by Great Wolf Resorts upon the actual assessed ad valorem tax value <br />increase occasioned by construction and equipment installation of the New Investment in <br />the Facility at the Site. The County shall pay Grants to Great Wolf Resorts as follows: <br />G-3 <br />
The URL can be used to link to this page
Your browser does not support the video tag.