AG 2004 01 26 - Laserfiche WebLink

Home Browse Search

DRAFT 1-12-04 INCENTIVE GRANT AGREEMENT (Prairie Packaging) This Agreement (the "Agreement"), made and entered as of the day of , 2004, by and between CABARRUS COUNTY (the ~County"), a body politic and political subdivision of the State of North Carolina, and PRAIRIE PACKAGING, INC., (~Grantee"), a Delaware Corporation. WHEREAS, Grantee is considering locating a 200,000 square foot facility in Cabarrus County, N.C. (the "Facility") by constructing a new facility in the County at an estimated cost of Seven Million Dollars ($7,000,000.00) (the "New Real Property Investment") and by installing furniture, fixtures and equipment therein at an estimated cost of an additional Eighteen Million Dollars ($18,000,000.00) (the ~New Personal Property Investment") (hereinafter sometimes cumulatively referred to as the "New Investment"); and WHEREAS, Grantee has received various proposals offering economic incentives to induce it to place or replace the New Investment at other sites outside the County; and WHEREAS, the County has previously adopted an Industrial Development Incentive Grant Program (the "Program"), a copy of which is attached hereto marked Exhibit A and incorporated herein by reference, the public purpose of which is to encourage economic growth and development within the County; and WHEREAS, Cabarrus Economic Development, Inc. (the "EDC") has reviewed Grantee's application for inclusion in the Program, and EDC's overview thereof is attached hereto as Exhibit B and incorporated herein by reference; and WHEREAS, Grantee has determined that a site off Highway 49 (the "Site") in the County is a suitable location for the placement of the Facility and the New Investment; and WHEREAS, to induce Grantee to locate the New Investment in the Facility at the Site and to assist Grantee in such activity, the County has offered incentives to Grantee consistent with the Program as described herein;