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Meeting Date 4/19/04 <br /> <br /> CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Agenda Item # <br /> <br />SUBJECT: <br />Concord Mills Economic Development Incentive Grant <br /> <br />BRIEF SUMMARY: <br /> <br />To increase the budgeted line item for the Concord Mills Economic Development Incentive <br />Grant. The quarterly incentive payments have increased approximately 26% over the <br />payments that were made in Fiscal Year 2003. (See the attached projection). The five <br />year Incentive Grant will expire during the Fiscal Year 2006. This increase will be covered <br />by a budget amendment to the Ad Valorem Current Year Property tax collections. The tax <br />collections are projected to be higher than the original budgeted amount. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br /> <br />Approve the Budget Amendment . <br /> <br />Attachments [] Yes [] No Expected Length of Presentation <br /> <br />Submitted By: Susan Fearrington, Asst. Finance Director Date: 3/22/04 <br /> <br />Budget AmendmentRequired: [] Yes [] No <br /> <br />Budget Amendment Attached and Reviewed by Budget Officer: <br /> <br />[] Yes [] No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />Approval required to make grant payments to Concord Mills as agreed. <br /> <br />Manager's Signature <br /> <br />Action Taken: <br />Approved [ ] Deferred [ ] <br />Denied [] Other [] <br /> <br /> <br />