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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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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/30/1999
Board
Board of Commissioners
Meeting Type
Regular
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grant awards. The company must agree to the value of the older assets being replaced if <br />new assets are for replacemerit purposes. <br /> <br />Grants for new projects will only consider estimated enhancements to the property tax <br />assessment base above those existing prior to the project as proposed. <br /> <br />The city shall provide detailed reporting processes to monitor and assure compliance with <br />the terms, conditions and other specific requirements of the grant award agreement. The <br />grantee shall comply with the reporting requirements during the grant period. The city <br />agrees to maintain confidentiality of information deemed to be proprietary in nature. The <br />grantee shall provide the city access to verifiable grant related support documentation. <br />Failure of the city to obtain required grantee documentation shall cause termination of <br />grant. ' <br /> <br />The grantee is required to give detailed infom]ation on assets to be considered as part of <br />the grant application process, inclusive of anticipated depreciation schedules, leasing <br />arrangements with named parties holding financial interest in assets covered by the grant <br />program, all business or corporate names that may be applicable for purposes of asset <br />ownership. Signed releases from those holding financial interests in assets may be <br />required as documentation for grant awards. <br /> <br />Rolling stock inclusive of automobiles, trucks, tractors, trailers or other licensed vehicles <br />shall not qualify as listed assets under personal property for purposes of calculating the <br />proposed projects investment value. <br /> <br />The grantee shall provide documentation in support of the fact that the City's INDUSTRIAL <br />DEVELOPMENT GRANT PROGRAM was an important factor in its decision to locate or <br />expand facilities in the City of Concord. <br /> <br />IV. PROGRAM ADOPTION, AMENDMENT AND EFFECTIVE DATES <br /> <br />Earlier INDUSTRIAL DEVELOPMENT GRANT PROGRAM guidelines were adopted by <br />the City Council in 1996. Subsequent modifications inclusive of dates of action by the City <br />shall be routinely detailed and noted hereto. Applicability of a specific project to these <br />program guidelines shall be consistent with latest date of appropriate action by the City <br />Council and the date of application for the program. Only specific action by the Concord <br />City Council shall be deemed acceptance of terms in a formal contractual grant agreement <br />and by award of an INDUSTRIAL DEVELOPMENT GRANT thereto. <br /> <br />A pre-application meeting with the City Council shall be held to validate project <br />specifics and assure that current grant program criteria are applicable. Cabarrus <br />Economic Development, Inc. shall provide a fiscal analysis of the project;s impact <br />upon the community inclusive of a recommendation from its Board of Directors as <br />to whether the project proposal should be considered for the award of an incentive <br />grant as detailed within policy guidelines. <br /> <br /> <br />
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