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(9/21/98 Agenda Package) <br /> <br />September 14, 1998 <br /> <br />ICABARRUSCO Nh'I <br /> <br />NORTH CAROLINA <br /> <br />MEMORANDUM <br /> <br />TO: Board of Commissioners <br /> <br />RE: Memorandum of Understanding (M.O.U.) <br /> Concord-Marriott Project <br /> <br />Enclosed please find: <br /> <br />(1) M.O.U. Agreement adopted by the City of Concord. <br /> <br />(2) Project Drawing - Exhibit A <br /> <br />(3) CHARLOTTE OBSERVER Article 7/12/98 Re: Burroughs & Chapin Co. <br /> <br />If the Board of Commissioners (BOC) approves the Addendum to the Cabarms County <br />Commercial/Retail Development Incentive Grant Program, then it would be appropriate to <br />consider the attached M.O.U. <br /> <br />The terms of the M.O.U. are consistent with discussions that have occurred and direction <br />established by the BOC. The noted changes suggested on Page 6 of the M.O.U. are to reflect <br />administrative fees deducted from the proceeds of the local sales tax and hotel/motel taxes <br />collected in Cabarrus County. Other provisions of the M.O.U. appear to be appropriate. <br /> <br />A final Business Agreement (B.A.) should address in more detail specific transactions yet to <br />occur and be decided upon before adoption. , <br /> <br />After the public hearing on the M.O.U., the BOC should proceed with its approval if in <br />agreement with the proposed project. <br /> <br />Respectfully, <br /> <br />cc: Bill Burk <br /> Jeff Young <br /> <br /> Office of the County Manager <br /> <br />P. O, Box 707 · Concord, NC 28026-0707 -, (704) 788-8100 ,,, Charlotte 375-0829 <br /> <br /> <br />