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<br />A RESOLUTION OF THE CABARRUS COUNTY BOARD OF COMMISSIONERS <br />IN SUPPORT OF THE SUCCESSFUL, CONTINUED AND SUSTAINED <br />DEVELOPMENT OF LOWE'S MOTOR SPEEDWAY AND ALL MOTORSPORTS <br />INFRASTRUCTURE IN CABARRUS COUNTY, NORTH CAROLINA <br />WHEREAS, Bruton Smith and Speedway Motorsports Incorporated (SMI) <br />has a long term and mutually beneficial relationship with Cabarrus <br />County, North Carolina and SMI and all of its related entities has been <br />a valuable corporate citizen for nearly 50 years; and <br />WHEREAS, the direct impact of motorsports in North Carolina is in <br />excess of $6 billion dollars annually and Lowe's Motor Speedway and <br />associated industries are major contributors to that impact and have <br />fueled the economic expansion of innumerable local businesses; <br />WHEREAS, Lowe's Motor Speedway has been the long term catalyst <br />for the motorsports industry in Cabarrus County and the entire <br />Charlotte Region and Cabarrus County has a reputation of encouraging <br />motorsports related development; and <br />WHEREAS, local residents, the business community and the entire <br />tourism and hospitality industry would be negatively impacted by an SMI <br />decision to leave our community and countless families rely on the <br />direct impact of Lowe's Motor Speedway and associated industries for <br />their livelihoods; <br />WHEREAS, the current Lowes Motor Speedway is one of the bedrock <br />facilities of NASCAR, and holds the same hallowed status for <br />participants and fans in the motorsports world as Fenway Park, Lambeau <br />Field and Augusta National do in theirs. <br />NOW, THEREFORE, HE IT RESOLVED, by the Cabarrus County Board of <br />Commissioners do hereby advocate a successful resolution to the <br />planning, development and construction of a proposed DRAGSTRIP, <br />allowing for continued economic expansion and employment opportunities <br />in the motorsports industry in Cabarrus County. We hereby further <br />advocate that the City of Concord, SMI and any other related parties <br />pursue the completion of Mr. Smith's dream to build the World's Racing <br />Destination in Cabarrus County North Carolina. This Board collectively <br />pledges their support to the realization of that dream. <br />Signed this 15th day of October 2007. <br />Robert W. Carruth, Chairman <br />Board of Commissioners <br />Attest: <br />Lori Hinson <br />Deputy Clerk to the Board <br />~r~o~~ <br />~~~~ <br />