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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Meeting Date 11/20/06 <br /> <br />Agenda Item # <br /> <br />&-1. <br /> <br />SUBJECT: <br />Industrial Development Incentive Grant for Shoe Show Inc. / Trinity of Cabarrus LP - Public <br />Hearing - 6:30 p.m. <br /> <br />BRIEF SUMMARY: <br /> <br />Shoe Show, Inc. has requested an incentive grant to expand its distribution center by <br />250,000 - 260,000 square feet on Trinity Church Road in Kannapolis. The estimated <br />investment is $23-27 million (real estate $8-10 million and equipment $15-17 million). The <br />EDC Board recommends a 3-year incentive grant equivalent to 85 percent of the ad <br />valorem taxes on the investment. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />Conduct public hearing on the requested incentive grant. <br />Authorize a 3-year incentive grant to Shoe Show, Inc. / Trinity of Cabarrus LP equivalent to <br />85 percent of the ad valorem taxes on the total project investment (projected $23-27 <br />Million). <br />Authorize the County Manager and County Attorney to conclude negotiations and execute <br />the agreement. <br /> <br />Attachments ~ Yes 0 No Expected Length of Presentation 5 Minutes <br /> <br />Submitted By: Ryan McDaniels, Cabarrus EDC Date: 11/6/06 <br /> <br />Budget Amendment Required: 0 Yes ~ No <br /> <br />Budget Amendment Attached and Reviewed by Budget Officer: 0 Yes ~ No <br /> <br />County Manager's Recommendations/Comments: <br />None. <br /> <br />Manager's Signature <br /> <br /> <br />Approved <br /> <br />Denied <br /> <br />Action Taken: <br />[ ] <br />[ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />G-1 <br />