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($1,893,000.00).) This Memorandum of Understanding contemplates the sharing of the <br />"hard" costs of this project. <br />6. That the County has been very progressive and innovative in encouraging <br />positive economic growth and retention in Cabarrus County. The County is aware that <br />there is a limited inventory of suitable commercial building sites with appropriate <br />infrastructure in place to sustain immediate commercial development within the County <br />and that this limitation undermines the opportunity to compete for new industrial, <br />distribution, office, and technology research growth in the region. <br />7. That Nolim has invested substantially in commercial economic development in <br />the Cabarrus County over the course of the past twenty years, effectively increasing the <br />taxable real estate and personal property inventory in the International Business Park and <br />creating approximately 2,094 jobs for the community. Nolim now wishes to make its <br />117.08 acre tract available for further and immediate commercial development. The <br />availability of this developed tract will ensure that there will be an inventory of certified <br />building sites and speculative buildings available to amact new industry to the City for <br />several years. That approximately 80 acres of the tract benefited by this project will be <br />eligible for inclusion and certification in the North Carolina Department of Commerce's <br />Certified Site Program, which further ensures that the property is environmentally clean <br />and immediately ready for development. <br />8. That the parties intend to negotiate a binding contractual agreement which will <br />create a sharing of the expenses relating to the construction of the Fortune Drive roadway <br />extension, necessary storm water drainage facilities, potable water lines and sanitary <br />sewer lines and other infrastructure necessary to service this tract. <br />G-a <br />