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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Meeting Date 4/17/06 <br /> <br />Agenda Item # G -2 <br /> <br />SUBJECT: <br />Modification to the Industrial Development Incentive Grant for Bonitz Contracting <br />Company, Inc. - Public Hearing - 6:30 p.m. <br /> <br />BRIEF SUMMARY: <br /> <br />A modification of the incentive grant for Bonitz Contracting Company is requested <br />pursuant to NC General Statute 158-7.1. On May 31,2004, the Board awarded the <br />company a Small Corporate Headquarters Grant to locate in Concord with a total project <br />investment of approximately $3.27 million (estimated). The company has relocated to <br />Concord, but has not moved its headquarters and needs a waiver of the headquarters <br />requirement. <br /> <br />REQUESTED ACTION: (Suggested motion lftlle Board approves the agenda Item 8S presented) <br />Conduct public hearing to consider the modification of the incentive grant for Bonitz <br />Contracting Co., Inc. Waive the requirement for a Corp. Headquarters under Section III of <br />the Ind. Dev. Grant Program and approve a small corporate headquarters grant subject to <br />the negotiation and execution of a definitive agreement between Cabarrus Co. and Bonitz <br />Contracting Co., Inc., as outlined in the Ind. Dev. Grant Program; authorize the Co. <br />Manager and Co.Attorney to conclude the negotiations and execute the Agreement. <br />Attachments ~ Yes D No Expected Length of Presentation 5 minutes <br /> <br />Submitted By: Jerry Saunders, Cabarrus EDC Date: 413/06 <br />Name I Job Title <br /> <br />Budget Amendment Required: D Yes ~ No <br />Budget Amendment Attached and Reviewed by Budget Officei': D Yes D No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />None. <br /> <br />Manager's Signature <br /> <br /> <br />Action Taken: <br />Approved [] <br />Den/eel [ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />G-2. <br />