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AG 1997 07 21
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AG 1997 07 21
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Last modified
3/25/2002 6:29:29 PM
Creation date
11/27/2017 11:54:02 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/21/1997
Board
Board of Commissioners
Meeting Type
Regular
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Manager, at the'time it makes its annual property tax payments, a <br />summary report on a form provided by the County, of: (a) all real <br />and personal property expenditures involved in developing the <br />Expanded Facility; (b) a statement of the incremental property tax <br />value increase arising from such expenditures, since the Base Tax <br />Assessment (net of depreciation/trending in the case of personal <br />property); and (c) verification of the property tax payment and any <br />accompanying correspondence. At the request of either the City or <br />the County,'S & D will furnish either of them with such other <br />information as may be reasonably requested to verify compliance <br />with the terms of this Agreement. The City and the County agree <br />further that the Grant payments to S & D will be made within twenty <br />(20) days after the payment by S & D of all property taxes due to <br />the City and the County and the delivery of the remaining items <br />referred to identified in the preceding sentence; and <br /> <br /> (d) The parties agree that any qualified expansion of the <br />Expanded Facility after the commencement of the five (5) year Grant <br />period shall (provided the Program is still in effect) be eligible <br />for separate Grants under the Program for a separate five (5) year <br />Grant period beginning for such tax year as S & D shall elect by <br />written notice to the City and County. <br /> <br /> Section 2. State Incentives. The City and the County agree <br />to assist S & D in obtaining any incentives, grants and programs <br />that may be or become available from the State of North Carolina <br />and shall "pass through" to the benefit of S & D any incentives, <br />grants and programs that the State of North Carolina provides to <br /> <br /> <br />
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