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AG 2004 05 31 RECESSED
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AG 2004 05 31 RECESSED
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Last modified
3/9/2006 9:19:38 PM
Creation date
11/27/2017 11:38:08 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
5/31/2004
Board
Board of Commissioners
Meeting Type
Regular
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terms of this Agreement and those contained in the attached <br />description of the Program shall govern the application of the <br />Program to the Site. The net increase in the assessed value of <br />real property and business personal property at the Site for local <br />property tax purposes occasioned by the placement of the new <br />investments at the Site shall determine the investment "level" for <br />the Program in effect. Bonitz agrees to forward to the County Tax <br />Administrator, at the time it makes its annual property tax <br />payments, a copy of the property tax payment receipt, which must <br />be requested from the County Tax Collector, and the County Tax <br />Assessor's statement (the "Assessor's Statement") of the valuation <br />of the new investments located at the Site. The Assessor's <br />Statement may be issued only after: <br /> <br /> (a) Bonitz has completed the County Assessor's <br />questionnaire and provided all other substantiating corroborating <br />documentation identified in the Program and reasonably requested <br />by the County Assessor to the satisfaction of the County Assessor; <br />and <br /> <br /> (b) The County Assessor has had the reasonable <br />opportunity to review, evaluate and verify a value for the real <br />property Facilities and Personal Property at the Site. <br /> <br /> The County agrees that the Grant payments to be made to <br />Bonitz during the respective term will be made within thirty (30) <br />days after Bonitz' payment in full of all property taxes and any <br />other assessments or charges due to the County and the delivery of <br />the County Assessor's Statement. <br /> <br /> 4. State and County Incentives. The County agrees to <br />reasonably assist Bonitz in its application for any incentives, <br />grants and programs that may be or become available from the City <br />and/or the State of North Carolina; however, the County shall not <br />be responsible for obtaining or paying any City or State <br />incentives to Bonitz. <br /> <br /> 5. Validity of Incentives. As stated in the Program, no <br />change in the Program after the date of this Agreement shall apply <br />to the provisions of this Agreement or to the real property <br />Facility or Personal Property investments set forth in this <br />Agreement (as may be expanded or modified) unless otherwise agreed <br />to in writing by the County and Bonitz. In the event one or more <br />lawsuits or other proceedings are brought against the County or <br />any County elected official challenging the legality of this <br />Agreement or any portion, the County shall defend against any and <br />all such lawsuits or other proceedings, including appealing any <br /> <br /> <br />
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