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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Meeting Date 12/18/06 <br /> <br />Agenda Item # G - l <br /> <br />SUBJECT: <br />Industrial Development Incentive Grant - Oiles America Corporation - (Public Hearing _ <br />6:30 p.m.) <br /> <br />BRIEF SUMMARY: <br /> <br />Oiles America Corporation is requesting a technical adjustment to their Industrial Grant <br />that will extend the fulfillment period to January 1,2007 through 2010. Oiles America <br />Corporation has met all industrial grant requirements: 1) new expansion investment of <br />$5,900,000 and 2) creation of 20 new full-time jobs. Currently 28 new full-time employees <br />have been hired as a result of the expansion. The request for an extension is due to a <br />delay in getting the new equipment delivered in a timely fashion. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />(1) Hold public hearing. <br />(2) Grant a technical adjustment to extend the fulfillment period to January 1, 2007 <br />through 2010 of an Industrial Development Incentive Grant for Oiles America Corporation <br />and authorize the county attorney and county manager to execute the corresponding <br />documents. <br /> <br />Attachments f&] Yes D No Expected Length of Presentation <br /> <br />Submitted By: Jerry Saunders, Cabarrus EDC Date: 12/9/06 <br /> <br />Name / Job Title <br /> <br />Budget Amendment Required: DYes IZJ No <br />Budget Amendment Attached and Reviewed by Budget Officer: DYes IZJ No <br /> <br />County Manager's Recommendations/Comments: <br />This item was approved by the Board for inclusion on the Agenda as a New Business item. <br />Approval is recommended. <br /> <br />Action Taken: <br />Approved [] <br />Denied [ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />G.--I <br />