AG 2006 07 31 Recessed - Laserfiche WebLink

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CABARRUS COUNTY BOARD OF COMMISSIONERS AGENDA ITEM REQUEST Agenda Item # C - \ Meeting Date 7/31/06 SUBJECT: Industrial Development Incentive Grant for Connextions Health, Inc. - Public Hearing BRIEF SUMMARY: Connextions Health Inc. has requested an incentive grant to locate a call center at 4601 Corporate Drive, Concord. The estimated project investment is $4.9 million ($2.9 million real estate and $2.0 million equipment). The company is requesting a Small Corporate Headquarters incentive grant @ 50 percent of the real and personal property tax revenue value anticipated to be generated by the project. The company headquarters will not be relocated to the County and a waiver of the headquarters requirement is requested due to the number of jobs to be created. REQUESTED ACnON: (Suggested motion if the Board 8pptOVes the agenda item as presented) Conduct Public Hearing. Waive the requirement for a Corporate Headquarters under Section 1111 of the Industrial Dev. Grant Program for Connextions Health, Inc., and authorize a small corporate headquarters grant equivalent to 50 percent of the real and personal property taxes on the total project investment anticipated at $4.9 million; and authorize the County Manager and County Attorney to conclude the negotiations and execute the Agreement. Attachments ~ Yes 0 No Expected Length of Presentation 5 minutes Submitted By: Ryan McDaniels, Cabarrus EDC Date: 6/30/06 Name / Job Title Budget Amendment Required: 0 Yes ~ No Budget Amendment Attached and Reviewed by Budget OffIcer: 0 Yes 0 No County Manager's Recommendations/Comments: None. Manager's Signature Action Taken: Approved [1 Denied [ ] Deferred [] Other [ ] (2-1