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Most importantly, building one is a retail user whom will be signing a 20 year lease. <br />Sales are projected at $7,000,000 in year three, historically increasing through year <br />twenty. <br /> <br />County sales tax revenues for the building would be calculated as follows: <br />7,000,000 x $.02 = $140,000 annually <br /> <br /> , <br /> <br />*This figure assumes no sales volume increase after year three, nor does it take into <br />effect the added sales volume of the additional retail uses. <br /> <br />As a taxpayer of Cabarrus County, I defirfitely hope the County would not turn <br />down an offer that annually will bring in an additional $160,000+ to the County on <br />this property, and over the initial lease teim a minimnm of $2,800,000 in sales tax <br />alone at the $.02 sales tax. <br /> <br />I am also sure you are aware of the positive effect and appreciation this <br />development will bring to the remainder of the County's property. I understand <br />from the County Attorney the North Carolina state's regulations allows the County <br />to accept or turn down any offer as they see fit, and I definitely think the above <br />mentioned facts makes Cedar Corporation's offer far greater than any offer that <br />have been proposed. <br /> <br />I hope this information will prove helpful to the County in evaluating Cedar <br />Corporation offer, which I feel is obviously financially far superior to any other offer <br />on the table. <br /> <br />Please feel flee to call myself or Ted Hunt with any questions or additional <br />information you need. <br /> <br />Look forward to hearing from you soon. <br /> <br />Sincerely, <br /> <br />cc: ~rank Clifton <br /> <br />Jeffery C. Carpenter <br /> <br /> <br />