AG 2004 05 17 - Laserfiche WebLink

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Apd119,2004 John Day County Manager Cabarrus County PO Box 707 Concord, NC 28026-0707 Dear Mr. Day: After a careful review of the program parameters for the Industrial/Corporate Development Grant Program, we believe that our plans for future construction merit consideration. Please consider this as an application in the Level I grant category of five million dollars. It is our understanding that among other cdtedon this grant is to be awarded based upon a project's estimated tax revenue generation value, calculated as approximately sixty-five percent of the value of real and personal property tax revenue value anticipated to be generated by the project. Henddck Motorsports plans to construct two facilities to include one, which will house the production of the #5 and ~25 NASCAR Nextel Cup Cars, and a second to be a Pit Crew Training Facility. The corporate headquarters for Henddck Motorsports will be moving to the new complex from another building in Cabarrus County. Corporate headquarters for Hendrick Companies will be moving from Charlotte. Project estimates are approximately eleven million dollars in improvements to real property and between eight-hundred thousand and two million dollars in improvements to personal property. The projected start date for the project is Spring 2004 with a completion goal of January 2005. As part of the project, we ara voluntarily being annexed into the City of Concord. We have outlined relevant points related to our application below: We are consolidating over 70 employees Eom other Cabarrus locations to the new race shop and pit facilities. We expect to hire between eight and twelve new employees with an average salary of $50,000. Preliminary plans for the race shop and pit facilities have been submitted for permitting. These plans meet all building codes and the Concord Parkway Overlay Plan. Our facilities provide high-paying manufacturing jobs without the environmental and irffrastructure requirements usually assodated with these types of jobs. Our water and electrical usage per square foot is in the range usually associated with commemial office projects. We use very little hazardous materials and create almost no noise or air pollution.