AG 1999 03 15 - Laserfiche WebLink

Home Browse Search

ECONOMIC DEVELOPMENT INCENTIVE GRANT AGREEMENT This AGREEMENT (the "Agreement") is made and entered in this the day of __ 1999. among CABARRUS COUNTY (the "County."), a political subdivision of the State of North Carolina, the CITY OF CONCORD (the "City."), a municipal corporation of the State of North Carolina, and ROUSH CORPORATION. a Michigan corporation ("ROUSH"). WITNESSETH: WHEREAS, ROUSH currently plans to construct a facility (the "Facility"), as generally described in Exhibit A, subject to final design, engineering and environmental reviews by appropriate state and local jurisdictions which may be modified by ROUSH based upon the site, permitted uses and other financial considerations; and. WHEREAS, ROUSH has met with the elected leaders of the County and City and understands that the County and City have developed certain programs and incentives to encourage the development of economic development projects within Cabarrus County and the City of Concord similar and consistent with the proposed Facility planned by ROUSH, and ROUSH has considered requesting similar incentives from other competing communities; and, WHEREAS, ROUSH which has related operations in five states and two foreign countries, has determined that the real property located in Concord, Cabarrus County, North Carolina, more particularly described in Exhibit B attached hereto and incorporated herein by this reference as all building, machinery., equipment and other personal property thereon (collectively, the "Property") is a suitable location for the development of the Facility and the availability of the local economic development incentive grant program is a significant contributing factor in a final decision by ROUSH to proceed with the project as proposed; and. WHEREAS, in order to encourage ROUSH to develop the Facility on the Property. and to assist ROUSH in such activity, the County and the City have offered a financial incentive grant and such other agreements as set forth herein and within designated Exhibits; and, WHEREAS, after careful consideration and evaluation of this proposal and other alternative site selection options elsewhere, ROUSH has substantially based its decision to locate and proceed with the development and construction of the Facility in Concord, Cabarrus County on the incentives and other agreements with the County and City contained in this Agreement. NOW, THEREFORE, in consideration of the mutual promises set forth in this Agreement and of other consideration, the receipt and sufficiency of which is now acknowledged by the parties. the County, City and ROUSH do hereby agree as follows: