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462 <br /> <br /> At 7:42 P.M., Chairman Casper stated this is the date and time for a public <br />hearing to consider an industrial incentive grant for Pass and Seymour and asked <br />if anyone wished to address the Board. <br /> <br /> Mr. Maurice Ewing, President of the Cabarrus Economic Development <br />Corporation, supported approval of the agreement for the expansion of the local <br />industry. <br /> <br /> There was no one else to address the Board, and Chairman Casper closed the <br />public hearing. <br /> <br /> UPON MOTION of Commissioner Niblock, seconded by Commissioner Barnhart and <br />unanimously carried, the Board approved the Industrial Incentive Grant Agreement <br />among Cabarrus County, the City of Concord and Pass and Seymour pursuant to North <br />Carolina General Statute 158-7.1. The anticipated capital equipment investment <br />if $8 million. The agreement as approved by the Board is on file in the County <br />Manager's Office and hereby included by reference as a part of the minutes. <br /> <br />Update on Welfare Reform Plannfn~ Process and Appointment of Additional Members <br />to the Plannin& Com~lttee - Mr. Jim Cook <br /> <br /> Mr. Jim Cook, Social Services Director, reported the Welfare Reform <br />Planning Committee is developing the County plan with recommendations to be <br />brought to the Board in January. He recommended the appointment of Mr. William <br />Morrison and Ms. Kaye Morgan, Concord Housing Authority Director, to the <br />Committee. <br /> <br /> UPON MOTION of Commissioner Carpenter, seconded by Commissioner Mills and <br />unanimously carried, the Board appointed Mr. William Morrison and Ms. Kaye Morgan <br />to the Welfare Reform Planning Committee. <br /> <br />Purchase of Chamber of Commerce's Interest in Property Located at 2323 Lake <br />Concord Road and Approval of Related Budget Amendments <br /> <br /> Mr. Clifton reviewed the proposal for the Cabarrus Economic Development <br />Corporation (EDt) to purchase the Chamber of Commerce's interest in property <br />located at 2323 Lake Concord Road. The EDC currently owns the remaining portion <br />of the property. <br /> <br /> Mr. Ewing advised that the correc~ address for the property is 2323 Concord <br />Lake Road. <br /> <br /> UPON MOTION of Commissioner Niblock, seconded by Chairman Casper and <br />unanimously carried, the Board authorized the Economic Development Corporation's <br />purchase of the one-half (h) interest of the Chamber of Commerce in the property <br />at 2323 Concord Lake Road for $155,000.00 and approved the following budget <br />amendments of $75,000.00 to fund the acquisition. <br /> <br /> BUDGET REVISION/AMENDMENT REQUEST <br />AMOUNT: $75,000.00 <br />TYPE OF ADJUSTMENT: Transfer Between Departments/Funds <br />PURPOSE OF REQUEST: To purchase Kannapolis/Chamber of Commerce's interest in the <br />EDt office building located at 2323 Lake Concord Road. <br /> <br /> Present Approved <br />Account No. Budget <br />01-6-17-10-901 6,541,146.95 <br />Fund Balance Appropriated <br />01-9-19-60-724 299,843.90 <br /> Contribution to Economic Development <br /> <br /> Revised <br />Increase Decrease Budget <br />75,000.00 6,616,146.95 <br /> <br /> 75,000.00 374,843.90 <br /> <br /> BUDGET REVISION/AMENDMENT REQUEST <br />AMOUNT: $75,000.00 <br />TYPE OF ADJUSTMENT: Transfer Between Departments/Funds <br />PURPOSE OF REQUEST: To purchase Kannapolis/Concord Chamber of Commerce's interest <br />in the EDt office building located at 2323 Lake Concord Road. <br /> <br /> Present Approved <br />Account No. Budget <br />56-6-33-10-902 299,843.90 <br /> Contribution - General Fund <br /> <br />75,000.00 <br /> <br />Revised <br />Budget <br />374,843.90 <br /> <br /> <br />