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This instrument has been pre-audited <br />In the manner required by the Local Government <br />Budget and Fiscal Control Act <br /> <br />City of Concord Finance Director <br /> <br />Count), of Cabarrus Finance Director <br /> <br />NORTH CAROLINA Incentive <br /> Grant Agreement <br />CABARRUS COUNTY <br /> <br /> THIS INCENTIVE GRANT AGREEMENT (this "Agreement") is made and <br /> <br />entered into as of the ~ day of . , t998, by and among the COUNTY <br /> <br />OF CABARRUS, NORTH CAROLINA (the "County"), a political subdivision of the <br />State of North Carolina; the CITY OF CONCORD, NORTH CAROLINA (the <br />"City"), a municipal corporation of the State of Noah Carolina; and CABARRUS <br />COUNTY TOURISM AUTHORITY, an appointed board created by the Cabarrus <br />County Board of Commissioners, or its designee (the "Tourism Authority"); and a <br />Limited Liability Company to be formed by Concord Development Group, a Noah <br />Carolina LLC and Burroughs & Chapin, Inc., a South Carolina corporation .(the <br /> <br />"Developer"); <br /> <br /> WITNESSETH: THAT-- <br /> <br /> WHEREAS, the Developer proposes to develop on certain property described on <br />Exhibit 1 attached hereto ("Property") the initial phase of a commercial hotel and <br />conference center project to be known as "Concord Marriott" which initial phase shall <br />consist of, among other things, approximately 250,000 square feet of gross floor area, <br />including 300 hotel rooms and a conference center with 40,000 square feet of dedicated <br /> <br />Filename - S\Planning~Incentive Grant Agreement.doc <br /> <br />Revised 11/9/98 <br /> <br /> <br />