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Meeting Date 5/31/04 <br /> <br /> CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Agenda Item # <br /> <br />SUBJECT: <br />Industrial Incentive Grant for Bonitz Contracting, Inc. - Public Hearing - 5:00 p.m. <br /> <br />BRIEF SUMMARY: <br />Pursuant to the Industrial Development Grant Program guidelines effective January 1, <br />2004, Bonitz Contracting (a South Carolina based wall and floor contracting company) has <br />requested an incentive grant to locate in Cabarrus County. The company is negotiating for <br />a site in the International Business Park in Concord and plans to construct a 48,000 sq ft <br />building. This facility will employ 175 persons with an average wage of $16.18/hour <br />(includes salaried employees). The estimated investment is $3 million of real estate with <br />equipment valued at $300,000. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br /> <br />Conduct public hearing to consider the incentive grant. Approve the incentive grant subject <br />to the negotiation and execution of a definitive agreement between Cabarrus County and <br />Bonitz Contracting, Inc., as outlined in the Industrial Development Grant Program, with <br />authorization granted to the County Manager and County Attorney to conclude the <br />negotiations. <br /> <br />Attachments ~-I Yes [--I No Expected Length of Presentation 5 minutes <br /> <br />Submitted By: Ryan McDaniels, Cabarrus EDC Date: 5/26/04 <br /> <br />Budget Amendment Required: I--] Yes [] No <br /> <br />Budget Amendment Attached and Reviewed by Budget Officer: <br /> <br />[] Yes <br /> <br />[] No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />Manager's Signature <br /> <br />Action Taken: <br />Approved [] Deferred [] <br />Denied [ ] Other [ ] <br /> <br /> <br />