AG 2006 12 18 - Laserfiche WebLink

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Resolution # 2006- 46 JOINT RESOLUTION OF THE CITY COUNCIL OF THE CITY OF KANNAPOllS, NORm CAROLINA, AND THE BOARD OF COMMISSIONERS OF CABARRUS COUNTY, NORm CAROLINA, OF SUPPORT FOR THE NORm CAROLINA RESEARCH CAMPUS WHEREAS, the City of Kannapolis, North Carolina (the "City") is a municipal corporation duly organized and validly existing under the laws of the State of North Carolina; and WHEREAS, Cabarrus County, North Carolina (the "County") is a political subdivision and a county created and existing under the laws of the State of North Carolina; and WHEREAS, pursuant to Section 158-7.3 of the General Statutes of North Carolina, as amended (the "Development District Act"), the cities and counties of the State of North Carolina are authorized to defme a development financing district and to finance public improvements that are part of a development project with the proceeds of project development fmancing debt instruments, issued pursuant to Article 6 of Chapter 159 of the General Statues of the State of North Carolina, as amended (the ''Bond Acf'); and WHEREAS, Castle and Cooke, mc., is undertaking a development project, located entirely within the City, known as the North Carolina Research Campus (the "Development Project") and has advised the City and the County that the Development Project requires significant public improvements in order for the Development Project to proceed as planned; and WHEREAS, based on information provided in a report entitled "ESTIMATING THE ECONOMIC lMPACT OF THE NORTH CAROLINA RESEARCH CAMPUS" dated October 16,2006, prepared by Market Street Services, mc., and Economic Impact Group LLC (the "Impact Study:"), the City and the County find that the Development Project will provide substantial benefits in terms of jobs, economic development and tax revenues the County and the City; and WHEREAS, both the City and the County recognize that securing the maximum benefit from the Development Project requires public investment in infrastructure to support the Development Project and to provide other public services to support and encourage the job and economic growth benefits to be derived therefrom; and WHEREAS, based on information provided in a report entitled "SWOT ANALYSIS: Preparation for the North Carolina Research Campus" dated October 16, 2006, prepared by Market Street Services, Inc. (the "SWOT Analysis") the City and the County fmd that there are a number of Priority Issues identified in the report that will require action by one or both of them; and WHEREAS, the City Council (the "Council") of the City and the Board of Commissioners of the County (the "Board") have each determined that their mutual benefit will require a coordinated and, in some cases, shared undertaking between the City and the County to achieve those goals; NOW, mEREFORE, BE IT RESOLVED, by the City Council of the City and the Board of Commissioners of the County as follows: SECTION 1. Declaration of Mutual Undertaking. The City and the County hereby declare their intent to work together in the devc;;lopment of plans for the fimding of infrastructure to support the North Carolina Research Campus and to work cooperatively to address the needs identified in the SWOT Analysis. Each of the City and the County have an interest in achieving these goals for the benefits of the taxpayers and residents of each. \=-- \ ~