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To: William R. Gerow <br />Re: Coming Ine 2002 Grant questionnaire & 02 CIP discovery <br />Date: May 22, 2003 <br />From: Cabarrus County Assessor's office <br /> <br />After reviewing the information provided by Gerry Orazem subsequent to our April 24, 2003 <br />meeting with Gerry Orazem and M~chael Hannan, we have forward copies of the <br />discoverable value in addition to the 2002 grant calculation. Please review the two attached <br />documents and let us know if you agree with the assessed value on the CIP discovery. You will <br />note that for the 2003 tax year we considered the idle equipment at the facility and reduced the <br />CIP by a 15% factor. In order to expedite Coming's grant payment; if you agree with the <br />discovery value please notify us prior to June 3, 2003. We also will need Coming to pay the <br />discovery levy before the grant payment can be disbursed to the taxpayer. The county finance <br />department will need to make a budget amendment on 6/16/03 before the Cabarms County Board <br />of Commissioners for approval to pay the total grant, which exceeds the current budget amount <br />for Coming. <br /> <br /> <br />