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AG 1999 08 30
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AG 1999 08 30
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Last modified
3/25/2002 6:00:58 PM
Creation date
11/27/2017 11:49:49 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/30/1999
Board
Board of Commissioners
Meeting Type
Regular
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INDUST~ DEVELOPM~ENT INCENTIVE GRANT AGREEMENT <br /> <br />This AGREEMENT (the "Agreement") is made and entered in this the __ day of <br /> · 1999, among CABARRUS COUNTY (the "County"). a political subdivision of <br />the State of North Carolina. CONCORD (the "City."), a municipal corporation of the State of North <br />Carolina, and OWENS CORNING, a Delaware Corporation ( the "Company"). <br /> <br />WITNESSETH: <br /> <br />Wt-[EKEAS. the Company currently plans to lease and operate an existing facility (the "Facility"), as <br />generally described in E.'d'fibit A, A-1 and A-2 subject to finalizing lease negotiations, environmental <br />reviews by appropriate State and local jurisdictions and other financial considerations; and, <br /> <br />Wq-t~KEAS the Company has met with the elected leaders of the County and City and understands <br />that the County and City have authorized certain programs and incentives to encourage industrial <br />development projects within Cabarrus County and the City of Concord similar and consistent with the <br />plan proposed by the Company, and the Company has requested similar incentives fi.om other <br />competing communities; and, <br /> <br />WHEREAS. the Company, which has other business operations in other locations, has determined that <br />the real property located in Concord, Cabarrus County. North Carolina, more particularly described in <br />Exhibit B and B-I attached hereto and incorporated herein by this reference as all building, machinery, <br />equipment and other personal property thereon (collectively, the "Property") is a suitable location for <br />the Company's manufacturing operations and the availability of the local industrial development <br />incentive grant program is a significant contributing factor in a f'mal decision by the Company to <br />proceed with the project as proposed; and, <br /> <br />WHEREAS, in order to encourage the Company to lease the Facility on the Property for fifteen (15) <br />3'ears and invest over $1.7MM in Tenant Improvements and to assist in such activities, the County <br />and the City have offered an industrial incentive grant and such other agreements as set forth herein <br />and within designated Exhibits; and, <br /> <br />9/24EREAS. after careful consideration and evaluation of this proposal and alternative site selection <br />options elsewhere, the Company has substantially based its decision to locate and proceed xtith the <br />leasing and implementing Tenant Improvements to the Faciliw in Concord, Cabarrus Count' on the <br />incentives and other agreements with the County and City contained in this Agreement. <br /> <br />NOW. THEREFORE. in consideration of the mutual promises set forth in this Agreement and of other <br />consideration, the receipt and sufficiency of which is now acknowledged by the parties, the County. <br />City. and the Company do hereby agree as follows: <br /> <br />SECTION 1. Incentive Grants. The County and City shall in accordance with and as provided by this <br />Agreement, agree to pay the Company the incentive grants (each a "Grant" and, collectively, the <br />"Grants") generally described in the Industrial Development Incentive Grant Programs (collectively, <br />the "Programs") as previously approved by the Board of County Commissioners of the County, and <br />the City Council for the City of Concord which are attached hereto as Exhibit C (County Program) <br />and Exhibit D (City Program). The Programs as described in Exhibit C and Exhibit D shall apply <br />except as amended within the context and content of this agreement. Where a conflict or a <br />modification of conditions shall exist within the terms of this agreement, the terms as stated within the <br />agreement shall supersede those as stated in the Programs as described in Exhibit C and/or Exhibit D. <br /> <br />The Count)' and the City hereby confirm that the Board of County Commissioners and the Concord <br />City Council have approved the application of the Program to the Facility and have authorized the <br />Grants and other terms of this Agreement as outlined herein. The County and City further confirm <br /> <br /> <br />
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