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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Agenda Item # F - I (p <br /> <br />Meeting Date 7/10/06 <br /> <br />SUBJECT: <br />Industrial Development Incentive Grant - Double 0 Plastics, Inc. - Schedule a Public <br />Hearing for August 21, 2006, at 6:30 p.m. <br /> <br />BRIEF SUMMARY: <br /> <br />Double 0 Plastics, Inc., currently located at 4501 Republic Drive,Concord, has requested <br />an incentive grant to expand its business at a new location on Biscayne Drive, Kannapolis. <br />The estimated project investment is $2.3 million ($1.7 million real estate and $600,000 <br />equipment). The Economic Dev. Commission is requesting that the Board consider a <br />modification/exemption to the current incentive program to offer a 3-year incentive grant <br />equivalent to 85% of the ad valorem taxes on the new investment. <br /> <br />REQUESTED ACTION: (Suggested motion If the Board approves the agenda Item as pl'Hented) <br /> <br />Set a public hearing for 6:30 p.m. (or as soon thereafter as persons may be heard) on <br />August 21, 2006 to consider the incentive grant request for Double 0 Plastics, Inc. <br /> <br />Attachments 1&1 Yes 0 No Expected length of Presentation <br /> <br />Submitted By: Jerry Saunders, Cabarrus EDC Date: 7/6/06 <br />Name / Job Title <br /> <br />Budget Amendment Required: 0 Yes 1&1 No <br />Budget Amendment Attached and Reviewed by Budget Officer: 0 Yes 1&1 No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />Scheduling the public hearing is recommended. <br /> <br />Manager's Signature <br /> <br /> <br />Action Taken: <br />Approved [] <br />Denied [ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />~I to <br /> <br />.c-;'.'" <br />