AG 2006 11 20 - Laserfiche WebLink

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The grantee is required to give detailed information 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 interests in assets may be required as documentation for grant awards. Rolling stock inclusive of automobiles, 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 shail provide documentation 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 County. IV. PROGRAM ADOPTION, AMMENDMENT AND EFFECTIVE DATES Earlier INDUSTRlAL 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 County shall be routinely detailed and noted hereto. Applicability of a specific project to these program guidelines 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 meeting with the County Commission and elected officials of any local municipality impacted by a proposed project shall be held to validate project specifics and assure that current grant program 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 its Board of Director's as .to whether the project proposal should be considered for the award of an incentive grant as detailed within policy guidelines. Only specific action by the Cabarrus County Commission shall be deemed acceptance ofterms in a formal contractual grant agreement and by award of an INDUSTRlAL DEVELOPMENT GRANT thereto. Applicants for the INDUSTRIAL DEVELOPMENT GRANT PROGRAM shall use these guidelines in applying for a grant for new industrial development projects locating or existing industrial expansions occurring in Cabarrus County (and applicable cities/towns). ,These guidelines shall be an attachment to each formal grant award contract approved by the County. Other specific attachments to the formal agreement shall include but not be limited to: - 6- G-i