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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 10/15/07 <br />Agenda Item # ~--~Z <br />SUBJECT: <br />Approval of Memorandum of Understanding for Road Construction Costs with the NOLIM <br />GROUP, S.A. at the International Business Park (IBP) <br />BRIEF SUMMARY: <br />The IBP is home to 2,100 jobs and $100 million in new investment. The park owners <br />constructed a new 1,900 feet-long road to access 117.08 acres of property. The project is <br />included in the NC Dept. of Commerce's "Certified Site" program. The owners have asked <br />that Concord and the County each contribute 1/3 of the construction cost for the road and <br />related improvements to make the sites ready for sale. Cabarrus EDC is asking the <br />County to enter into such an agreement based on the attached MOU. Concord has agreed <br />to participate and is ready to move forward in conjunction with the County's approval. <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />1. Hold Public Hearing. <br />2. Consider approval of the Memorandum of Understanding (MOU). <br />Attachments <br />^X Yes ^ No <br />Expected Length of Presentation 5 Minutes <br />Submitted By: Clay Andrews, Cabarrus Economic Dev. Date: 9/28/07 <br />Name I Job Title <br />Budget Amendment Required: ^ Yes ^ No <br />Budget Amendment Attached and Reviewed by Budget Officer: ^ Yes ^ No <br />County Manager's RecommendationslComments: <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 />-a <br />