Laserfiche WebLink
<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Meeting Date 6/19/06 <br /> <br />Agenda Item # <br /> <br />SUBJECT: <br />Proposed Lease Agreement and Agency Agreement for the C. A. Furr Elementary, <br />Charles E. Boger Elementary and Hickory Ridge High Schools <br /> <br />BRIEF SUMMARY: <br /> <br />Effective 7/1105, School systems can no longer claim sales tax refunds on their purchases <br />or for construction projects. (See Agenda Item 1-1.) In order for the County to take <br />advantage of the sales tax savings, it is proposed that the Schools transfer the Furr, Boger <br />and Hickory Ridge property to the County with a lease and agency agreement between the <br />County and the Schools. The Schools will be considering a Resolution at its meeting on <br />June 22 to approve the Lease, Agency Agreement and transfer of property to the County <br />nunc pro tunc as of July 1, 2005. <br /> <br />REQUESTED ACTION: (Suggested motion Ifthe Board approves the agenda Item as presented) <br />Approve the Lease Agreement and Agency Agreement between Cabarrus County and the <br />Cabarrus County Board of Education nunc pro tunc as of July 1, 2005 for the C. A. Furr <br />Elementary, Charles E. Boger Elementary and Hickory Ridge High Schools and authorize <br />the Chairman to execute the documents on behalf of Cabarrus County, subject to approval <br />of the Board of Education at its meeting on June 22, 2006. <br /> <br />Attachments ~ Yes 0 No Expected Length of Presentation <br /> <br />Submitted By: Chairman Bob Carruth Date: 6/19/06 <br />Name / Job Title <br /> <br />Budget Amendment Required: 0 Yes ~ No <br />Budget Amendment Attached and Reviewed by Budget Officer: 0 Yes 0 No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />Failure to approve the attached agreements will result in the loss of $174,000 in FY 2006. If <br />the General Assembly does not change the laws regarding the reimbursement of sales <br />taxes paid by school systems, and these agreements are not approved, then the county <br />stands to loose several hundred thousand dollars more in the next two years. <br /> <br />Approval is recommended. <br /> <br />Manager's Signature <br /> <br /> <br />Action Taken: <br />Approved [] <br />Denied [ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />1=-35 <br />