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<br />revenues, permit and fee revenues, sales and service fee revenues, financing so.urces, interest <br />earnings and other miscellaneous revenues.. Other than as established by applicable federal o.r state <br />law, revenues have no. dedicated expenditure purpo.se. <br /> <br />The fiscal impact o.f a project could be evaluated using metho.dsto. include emplo.yment data, wages <br />and benefits, seco.ndary job creatio.n, business spin-o.ffs and related factors. Tho.se metho.ds co.uld <br />produce a mo.re favo.rable view o.fa pro.ject's regional.fiscal impact. Wo.rkfo.rce mo.bilityand the <br />ability o.f eco.no.mic decisio.ns to. transverse go.vernment'll units make tho.se facto.rs unreliable in <br />measuring direct lo.cal financial impacts. Emphasis on those factors co.uld lead to. inflated estimates <br />o.f a project's value and less certain co.st-benefit based incentive decisio.ns. <br /> <br />The intent o.fthe INDUSTRIAL DEVELOPMENT GRANT PROGRAM is that the Co.linty will see <br />a po.sitive financial benefit asso.ciated with each project. Eco.no.mic develo.pment incentive programs <br />elsewhere have seen significant public financial investments by lo.cal go.vernments co.mmitted to. o.n <br />the front-end o.fa project go. unreco.vered in benefits (either in directly attributed financial returns <br />or in the creatio.n o.fnewe, higher payingjo.bs). . <br /> <br />The INDUSTRIAL DEVELOPMENT GRANT PROGRAM is designed to. ensure that the co.unty <br />and participating municipalities see increases in property tax assessment base and o.ther local <br />go.vernment revenue resources in excess o.f grants awarded. <br /> <br />Grants shall no.t exceed five years in perio.d o.f award and any o.ne grant award perio.d must be <br />co.mpleted no.t later than seven years after initial award to. allo.w for co.nstructio.n and productio.n <br />start-up time. An extensio.n to. these limits may be granted based upon specific project related issues, <br />but is not guaranteed or required. <br /> <br />The formal agreement between the parties (grant recipient, cities and co.unty) shall attempt to. <br />specifically identify dates fo.r purpo.ses o.f establishing the appropriate time perio.d(s) that a grant will <br />be in effect. Dates to. be established will include co.nsideratio.n o.f the date o.f award, a date fo.r the <br />beginning o.f constructio.n,productio.n start-up date and the dates fo.r the beginning and ending of the <br />incenti ve grant awards. <br /> <br />Each project will bedealtiwith o.n an individual basis using these guidelines and o.ther directives <br />autho.rized by the Cabarrus Co.unty Co.mmissio.n. These guidelines are subject to. change and will <br />be reviewed routinely fro.rj:t date o.f ado.ptio.n, theCo.unty Co.mmissio.n requiring it. <br /> <br />Changing eco.no.mic co.nditio.ns, legal issues o.r o.ther facto.,s may cause the Co.unty Co.mmissio.n <br />to. mo.dify, amend, suspend.o.r terminate the INDUSTRIAL DEVELOPME:NT GRANT PROGRAM <br />subject to. co.ntracted grants previo.uslyawarded and in eff~ct at that time. <br /> <br />Altho.ugh, increasing and' diversifying the lo.cal property tax assessment base are the primary <br />initiatives o.fthis INDUSTlUAL DEVELOPMENT GRANT PROGRAM, several o.ther facto.rs may <br />be co.nsidered in autho.riziJ;lg a grant to. any specific project. These may include but are no.t limited <br />to.: <br /> <br />- 2- <br /> <br />(1.-3 <br />