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AG 1998 11 16
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AG 1998 11 16
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Last modified
3/25/2002 6:09:44 PM
Creation date
11/27/2017 11:52:51 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
11/16/1998
Board
Board of Commissioners
Meeting Type
Regular
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of January 1, 1999. <br /> <br /> The calculations for the grant program shall consider the equivalent value of tax payments made <br />by BOC and collected by the County on behalf of the Midland Fire District in the same manner and <br />proportion in the grant program as to the County. The allocation of incentive grant payments inclusive of <br />the applicable proportionality for the Midland Fire District shall be administered and implemented by the <br />County consistent with the Cabarrus County Industrial Development Incentive Grant Program guidelines <br />as established by the Board of County Commissioners. <br /> <br /> Adjustments to real or personal property values not associated with the projects as proposed and <br />included within this agreement shall not be included in any calculation of value for establishment of the <br />Industrial Development Incentive Grant. Reappraisals or adjustment to real and personal property values <br />based upon market adjustments or changes in North Carolina property assessment laws will be adjusted <br />so as to avoid any distortion of the base value and the value of the proposed expansion project to be <br />completed by BOC. <br /> <br /> A copy of the Cabarrus County Tax Assessor's record for the actual real and Personal property <br />assessment for the Facility within the project area is to be attached to this agreement for reference <br />(.Exhibit D). <br /> <br /> It is BOC's current plan (which is subject to change) to begin making investments in the Facility <br />on or after January 1, 2000, which is the date as of which the value of property will be determined for <br />assessment for ad valorem taxes for the fiscal year of the County beginning July 1, 2000 and ending June <br />30, 2001. If BOC's current plan does not change, BOC expects that at some time during the 2000 <br /> <br /> <br />
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