AG 2006 07 10 - Laserfiche WebLink

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The grantee is required to give detailed infonnation on assets to be considered as part of the grant application process, inclusive of anticipated depreciation schedules, leasing arrangements with named parties holding financial interest in assets covered by the grant program, all business or corporate names that may be applicable for purposes of asset ownership. Signed releases from those holding financial interestsi in assets may be required as documentation for grant awards. Rolling stock inclusive ofiautomobiles, trucks, tractors, trailers or other licensed vehicles shall not qualify as listed assets under personal property for purposes of calculating the proposed projects investment value. County contributions to a specific project's infrastructure costs shall be deducted from the calculated INDUSTRIAL DEVELOPMENT GRANT PROGRAM award available for that specific project. The grantee shall provideidocumentation in support of the fact that the County's INDUSTRIAL DEVELOPMENT GRANT PROGRAM was an important factor in its decision to locate or expand facilities in Cabarrus COUl'lty. IV. PROGRAM ADOPTION, AMMENDMENT AND EFFECTIVE DATES Earlier INDUSTRIAL DEVELOPMENT GRANT PROGRAM guidelines were adopted by the Cabarrus County Board of Commissioners in June 1996. Subsequent modifications inclusive of dates of action by the Couqty shall be routinely detailed and noted hereto. Applicability of a specific project to these program g(lidelines shall be consistent with latest date of appropriate action by the Board of County Commissioners and the date of application for the program. A pre-application meetiyg with the Colinty Commission and elected officials of any local municipality impacted by a proposed project shall be held to validate project specifics and assure that current grantiprogram criteria are applicable. Cabarrus Economic Development, Inc. shall provide a fiscal] analysis of the project's impact upon the community inclusive of a recommendation from it~ Board of Director's as to whether the project proposal should be considered for the awarq of an incentive grant as detailed within policy guidelilles. I Only specific action by th~ Cabarrus County Commission shall be deemed acceptance of terms in a formal contractual grant agreement and by award of an INDUSTRIAL DEVELOPMENT GRANT thereto. , Applicants for the INDUS1RIAL DEVELOPMENT GRANT PROGRAM shall use these guidelines in applying for a grant f~r new industrial development projects locating or existing industrial expansions occurring in Cllbarrus County (and applicable cities/towns). These guidelines shall be an attachment to each forn!lal grant award contract approved by the County. Other specific attachment~ to the formal agreement shall include but not be limited to: - 6 - G-5