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and can also be utilized for shakedown work prior to a race. Phase II at an estimated construction cost of $17,287,000.00 is scheduled to begin in 2001 and will consist of a ~museum" or a facility for corporate sponsors to display their products. Phase III will begin in 2003 and will include two office buildings at an estimated cost of $19,220,000.00 for construction and equipment. Plans are to complete the project in five years at a total cost of $69,545,000.00. Mr. Jeff smith, President of Roush, presented additional information concerning Roush's plans to consolidate its various business units at the Concord complex. He explained that the "museum" would actually be a sponsor display area to allow sponsors to display their products away from the race shops. Also, Roush will use one of the office buildings and the second will be leased to other companies. Mr. Jim Scarbrough, Attorney representing a group of residents living in the vicinity of the Roush project, spoke in opposition to the proposed tax incentive agreement. At Mr. Scarbrough's request, a large nunlber of persons present for the meeting indicated their opposition to the Roush project by a show of hands. He listed the following reasons against the tax incentives for Roush: (1) Project will not create any new jobs, thus fails to meet the County's industrial incentive guidelines; (2) Property is not properly zohed for industrial use; (3) Project would discourage commercial development along the Highway 29 corridor; and (4) Tax incentives would give Roush an unfair market advantage over competition in the county. Stating Roush would receive over $3 million in tax rebates from the City and County, Mr. Scarbrough asked the Board to vote against the Roush proposal as submitted. Mr. Mike Stritch, speaking on behalf of residents of the Roberta Farms Subdivision that borders to the rear of the Roush property, objected to the Roush project. He stated the test track running along the outside of the property would negatively impact the community. Also, he expressed concerns about noise, the impact on the development of Highway 29 as a commercial corridor, the depreciation in property values and the decrease in the salability of homes in the area. Ms. Terri Smedley, speaking as a concerned homeowner and mother living in the Cedar Springs Subdivision, spoke in opposition to the Roush proposal. She strongly objected to ~property tax rebates" to Roush, stating in her opinion the car manufacturing and racetrack facility would be of no benefit to the County. Further, Ms. Smedley cited concerns regarding noise, pollution, the impact on the Highway 29 commercial corridor, the project's incompatibility with surrounding property, the negative impact on the nearby property values and salability of homes in the community. Ms. Cathy Snell of the Roberta Farms Community opposed the Roush project. She stated concerns about a decrease in property values and the impact of the noise on nearby schools, homes and churches. Mr. Larry Airey addressed the negative impact of the shakedown or test track noise on churches, high school and stores in the area. He stated the proposed project would not create any new jobs, would cause an increase in traffic and would reduce the tax value of nearby homes. Stating 200 homeo~rners in the area represent a $50 million investment, Mr. Airey opposed any "tax rebates" to Roush. Mr. Todd Rogers expressed concern that the proposed project would negatively impact the undeveloped properties along Highway 29 and would not be the highest and best use of the property. Re stated persons would not want to develop property in the vicinity of the Roush project, thus causing the County to 10se revenue with the underdevelopment Of surrounding property. Mr. John Howard, Chairman of the Motorsports Committee of the Cabarrus Regional Chamber of Commerce, spoke in support of the Roush project. He discussed the importance of the motorsports industry, stating it is the sixth largest employer in Cabarrus County. He read the following resolution from the Cha~er of Commerce. CAB~kRRUS REGIONAL CHAMBER OF COMMERCE RESOLUTION SUPPORT OF ROUSH P~CING WHEREAS, the Cabarrus Regional Cha~er of Commerce has an active Motorsports Committee which has as its primary mission to advance the economic impact of the motorsports industry in the Cabarrus region; and