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18/87/2883 88:82 7847844683 CABARRUS ECON DVLPMT PAGE 81/81 <br /> <br />DATE: <br /> <br />TO: <br /> <br />FROM: <br /> <br />SUBJECT: <br /> <br />MEMORANDUM <br /> <br />October 6, 2003 <br /> <br />Bosrd of County CummiBsioners <br /> <br />Maurice D. Ewlno, CEcD <br />President/CEO <br />Cabarrus Economic Development <br /> <br />Racing Wi.th__F~!ix ,Sabate_- <br /> <br />Oanaaei Racing with Felix Saber# LS considering the option of relocating their <br />race team from Iredell County to Concord. They are considering a elto on Poplar <br />Tent at Derita Road adjacent to the airport. <br /> <br />The project will involve the investment of approximately $15,500,000 and will <br />create approximately 150 jobs. <br /> <br />We understand that aggressive proposals have been made by other cities in tho <br />region In the hope1 of ce;urine the project for their communities. <br /> <br />The Economic Development board has reviewed the project and determined that <br />this request meet. the Industrial grant guidelines ag established by the Board of <br />Commissioners, end reoommende to the Board that they approve the Inducement <br />request mo outlined In the stta;hed dralt agreement, <br /> <br />The City of Concord has called for a public hearing to con~ider a request for an <br />inducement gent under the guidelines for the City of Concord Industrial Grant <br />program. <br /> <br /> <br />