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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 9/17/07 Agenda Item # !~t'(P <br />SUBJECT: <br />Presentation of an Industrial Development Incentive Grant Request for Speedway <br />Motorsports, Inc. and Scheduling of a Public Hearing <br />BRIEF SUMMARY: <br />Speedway Motorsports Inc. is considering Cabarrus County as a location fora $60 million <br />drag racing facility. Speedway Motorsports, Inc. (SMI) is a leading marketer and promoter <br />of motorsports entertainment in the United States. SMI owns six premier speedway <br />facilities in growing markets across the country and has one of the largest total permanent <br />seating capacities, with the highest average number of seats per speedway, in the <br />motorsports industry. <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />Receive presentation and schedule a public hearing. <br />Attachments ^X Yes ^ No Expected Length of Presentation 5 Minutes <br />Submitted By: Jerry Saunders, Senior Exec. Cabarrus EDC Date: 9/10/07 <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 />Acfion Taken: <br />Approved (] Deferred [ ] <br />Denied [ ] Other [ ] <br />l"J'~0 <br />