Laserfiche WebLink
* We believe that it is nearly impossible to have evidence six years in advance to <br />substantiate the prediction that the City will somehow become prosperous at a more rapid <br />rate than the County. That is nearly impossible to know now. A lot of that has to do <br />with the demands on services (directly .and indirectly related to the Research Campus). It <br />also has to do with the level of spinoff development that can occur anywhere in the County <br />(that may or may not positively affect Kannapolis future revenues but will ALWAYS <br />positively impact the County's revenues). <br />* The County is already not contributing its full share of incremental revenues to <br />the TIF repayment (only contributing half the debt and not the larger amount due to their <br />higher tax rate). As a result, the County will already receive more excess revenues than <br />the City, even with no payback.. <br />* The County would already keep 100 of its own "excess revenues.". Its only fair <br />that the City keeps its excess revenues as well. <br />* I think it is reasonable to revist this matter at future junctures in the future; <br />esp. if the bonds are refunded. <br />If this proposal has life after tonight's meeting, it will certainly affect the Interlocal <br />agreement and we are simply running out of time.. <br />Thanks for your time and consideration of our concerns. <br />Mike <br />Mike Legg <br />City Manager <br />City of Kannapolis <br />709.920.9309 (0) <br />980.521.0279 (M) <br />Sent from Mobile Device. <br />2 <br />G_y <br />