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<br />or corporate names that may be applicable for purposes of asset ownership. Signed releases from <br />those holding financial interests in assets may be required as documentation for grant awards. <br /> <br />Rolling stock inclusive of automobiles, trucks, tractors, trailers or other licensed vehicles shall <br />not <br />qualify as listed assets under personal property for purposes of calculating the proposed projects <br />investment value. <br /> <br />County contributions to a specific project's infrastructure costs shall be deducted from the <br />calculated INDUSTRIAL DEVELOPMENT GRANT PROGRAM award available for that <br />specific proj ect. <br /> <br />The grantee shall provide documentation in support of the fact that the County's INDUSTRIAL <br />DEVELOPMENT GRANT PROGRAM: was an important factor in its decision to locate or <br />expand facilities in Cabarrus County. <br /> <br />IV. PROGRAM ADOPTION, AMMENDMENT AND EFFECTIVE DATES <br />Earlier INDUSTRIAL DEVELOPMENT GRANT PROGRAM guidelines were adopted by the <br />Cabarrus County Board of Commissioners in June 1996. Subsequent modifications inclusive of <br />dates of action by the County shall be routinely detailed and noted hereto. Applicability of a <br />specific project to these program guidelines shall be consistent with latest date of appropriate <br />action by the Board of County Commissioners and the date of application for the program. <br /> <br />A pre-application meeting with the County Commission and elected officials of any local <br />municipality impacted by a proposed project shall be held to validate project specifics and <br />assure tbat current grant program criteria are applicable. Cabarrus Economic <br />Development, Inc. shall provide a fiscal analysis of the project's impact upon tbe <br />community inclusive of a recommendation from its Board of Director's as to whether tbe <br />project proposal sbould be considered for the award of an incentive grant as detailed <br />within policy guidelines. <br /> <br />Only specific action by the Cabarrus County Commission shall be deemed acceptance of terms <br />in a formal contractual grant agreement and by award of an INDUSTRIAL DEVELOPMENT <br />GRANT thereto. <br /> <br />Applicants for the INDUSTRIAL DEVELOPMENT GRANT PROGRAM shall use these <br />guidelines in applying for a grant for new industrial development projects locating or existing <br />industrial expansions occurring in Cabarrus County (and applicable cities/towns). These <br />guidelines shall be an attachment to each formal grant award contract approved by the County. <br /> <br />Other specific attachments to the formal agreement shall include but not be limited to: <br /> <br />. A project site plan, brief written description of the project, its scope, number and type of <br />employment positions, phasing and timing of the development and any other information <br />that would be viewed as important in describing the project. <br /> <br />6 <br /> <br />G-- \ <br />