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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Agenda Item # <br /> <br />c., 3 <br /> <br />Meeting Date 1/24/05 <br /> <br />SUBJECT: <br />Financial Support of Efforts to Retain the NASCAR NEXTEL All-Star Challenge at Lowes <br />Motor Speedway <br /> <br />BRIEF SUMMARY: <br /> <br />The All-Star Race has a major economic impact in Cabarrus County and the surrounding <br />area (over $100 million). A Local Organizing Committee, comprised of area local <br />government representatives and several organizations, is currently engaged in an effort to <br />enhance the event and maximize the positive impact of the race to ensure that it remains <br />at Lowes Motor Speedway. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br /> <br />Contribute $20,000 to help fund the many events planned in support of retaining the <br />All-Star Race in Cabarrus County and adopt the attached budget amendment. <br /> <br />/ <br /> <br />Attachments ~ Yes 0 No Expected Length of Presentation <br /> <br />Submitted By: Ann Sternal, CVD Director Date: 1/11/05 <br /> <br />Name / Job Title <br /> <br />Budget Amendment Required: 0 Yes 0 No <br />Budget Amendment Attached and Reviewed by Budget Officer: 0 Yes 0 No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />Motorsports is one of Cabarrus County's top industries. It is important to participate in this <br />essential effort to retain the NASCAR NEXTEL All-Star Challenge. Sufficient unused funds <br />are available for this purpose in the EDC Contribution line-item. <br /> <br />Approval is recommended. <br /> <br />Manager's Signature <br /> <br /> <br />Action Taken: <br />Approved [] <br />Denied [ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />a..~ <br />