AG 2004 01 26 - Laserfiche WebLink

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December 15, 2003 Page 325 Grants for expansion of exlstang andustrles w~ll account for reductaons an value associated wath machinery and equapment beang phased out, replaced or retrofatted as part of a project. Factors impacting employment wall be evaluated a~d enter 1nrc data--nations Of grant awards. The company~ust agree to the value of the older assets being replaced if new assets are for replacement purposes. Grants for new projects will only consader estlmated enhancements to the property tax assessment base above those exastang prlor to the project as proposed. The county shall provide detailed reportlng processes to monitor and assure co~llance waththe te.l~, condataons and other speclfac requarements of the gr~nt award agreement. The grantee shall comply with the reporting requirements during the grant period. The county agrees to maantaan confidentlalaty of information deemed to be propraetary 3_n nature. The grantee shall provide the county access to verafaable grant related support documentataon. Failure of the county to obtaln rec]%~lred grantee documentataon shall cause termlnataon of grant. The grantee as required to give detaaled Lnfoz~ataon on assets to be considered as part of the grant appllcatzon process, inclusive of antaclpated depreciation schedules, leasing arrangements wlth named parties holding flnancaal interest in assets covered by the grant program, all business Or corporate names that may be applicable for purposes of asset ownershap. Blg~sd releases from those holding financial interests in assets ~ay be req~lred as documentatzon for grant awards. Rollang stock anclusave of aut~obales, tr~cks, tractors, trailers or other licensed vehicles shall not qualmfy as lasted assets under personal property for purposes of calculating the proposed pro3ects lnvestmant value. County contributio~s to a specific pro]act's infrastructure costs shall be deducted from the calculated INDUSTRIAL DEV~,LOPMENT GRANT PROGRAM award available for that specific pro3ect. The grantee shall provide do~entataon an support of the fact that the County's INDUSTRIAL DEVELOPMENT GRANT PROGRAM was an ~_m~ortant factor in 1ts decisaon to locate or expand facilities in Cabarrus County. IV. PROGRAM ADOPTION, AMENDMENT AND EFFECTIVE DATES Earller INDUSTRIAL DEVELOPMENT GRANT PROGRAM guadelanes were adopted by the Cabarrus County Board of Comm_%ssaoners in June 1996. S~bsequent modifications inclusive of dates of actlon by the County shall be routanely detailed and noted hereto. Applacabalaty of a specific project to these program ~idellnes shall be consistent with latest date of appropriate action by the Board of County Commlsszoners and the date of applacataon for the program. A pre-appllcataon meeting wzth the County Ccm~lssaon and elected officials of any local munaclpallty impacted by a proposed pro]act shall be held to validate pro3ect specifics and assure that currant grant progra~ncrzteraa are applzcabls. Cabarrus Economic Development, Inc. shall provade a rascal analysas of the project's impact upon the cormm~nzty znclusave of a recommendation from ats Board of Director's as to whether the pro3ect proposal should be consadered for the award of an lncentave grant as detailed wlthan polacy guidelines. Only specific action by the Cabarrus Cowry Co~ssaon shall be deemed acceptance of terms ina formal contractual grant agreement and by award of an INDUSTRIAL DEVELOPMENT GRANT thereto. Applicants for the INDUSTRIAL DEVELOPMENT GRANT PROGRAM shall usa these guldelznes In applyang for a grant for new andustrial developmant pro3ects locatlng or exasting ~d~strlal expansions occurring in Cabarrus Co%mty (and applacable caries/towns). These guidelines shall be an attachment to each formal grant award contract approved by the County. Other specific attachments to the formal agreemant shall include but not be limited to: · A project a~te plan, brief written description of the project, its scope, n%uaber and type of er~loyment posataons, phasing and timing of the development and any other information that would be viewed as ~ortant in descr~b~g the pzo3ect. A sudsy ~d legal descrlptlon of the property along with proof of ~ers~p, O~tl~ to buy or other vezxfl~le interest in the real propezty associated~th the pro3ect. A copy of the ~rrent Cowry incentive gr~t ~dellnes. A copy of ~e partlcxpating ~lclpallty's ~centlve gr~t ~idel~es (if applicable). The co~ty ~ax card of record for the property as of J~ua~ 1st of the year that the project is being considered. (Used to est~llsh the base value of lnves~ent.} · A copy of the ~st current State of North Carolxna Industrial Incentive Progr~ ~ldelines (If appllc~le). · Other pertinent lnfo~tlon that ~ght apply to a specific pro3ect. These ~ldellnes re, in in effe~ ~tll othe~lse ~f~ed by the C~ar~s Cowry Board of Cowry Co~ssloners.