Laserfiche WebLink
I CASARRtlS COUNTY <br /> <br />NORTH.;AROLiNA <br /> <br />MEMORANDUM <br /> <br />December Consent Agenda <br /> <br />To: Board of Commissioners <br /> <br />Date: December 7, 2001 <br /> <br />Kc: Addendum - Pillowtex Economic Development Incentive Grant <br /> <br />Attached is a proposed addendum to the existing agreement with Pillowtex regarding its <br />Economic Development Incentive Grant. As you know, Pillowtex declared bankruptcy and <br />withheld payment of appropriate 2000 tax payments to the County and City of Concord. The <br />company did make a delayed payment of its real property taxes to the City of Kannapolis. <br /> <br />In view of the agreements on the Pillowtex grant, it is recommended, and so outlined in the <br />addendum, that Pillowtex will remain eligible for four (4) of the five (5) years on the grant. 1999 <br />being declared ineligible due to a failure to comply with the terms of the grant. <br /> <br />Kannapolis has chosen a different approach. It is my understanding the City of Concord concurs <br />with the addendum. <br /> <br />It is recommended that the County Commission act on the addendum. If Pillowtex complies, we <br />will act to process the grants upon the receipt of appropriate documentation. <br /> <br />A summary of'grant funding estimates is provided. These numbers will be verified by actual <br />filings Pillowtex will complete. <br /> <br />FWC/dpl <br /> <br />Cc: Brian Hiatt, City of Concord <br /> Mike Legg, City of Kannapolis <br /> Maurice Ewing, Cabarrus Economic Development <br /> <br />Attachment <br /> <br /> Office of the County Manager <br />RO. Box 707 · Concord, NC 28026-0707 * (704) 788-8100 · Charlotte (704) 375-0829 <br /> <br /> <br />