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7~-"~, CABARRUS COUNTY ~' : Post Office Box 707 ~// coNCORD, NORTH CAROLINA 28025 MEMORANDUM TO: Charles D. McGinnis/County Manager Thomas B. Robinson/Planning Director FROM: SUBJECT: Development of either a Community Revitalization or Economic Development Application under the Small Cities Community Development Block Grant Program (CDBG). DATE: March 5, 1984 For the past two years, Cabarrus County has submitted CDBG projects for the Shankletown/Silverhill Communities. Cabarrus County has the option of developing either a Community Revitalization Project like last years Shankletown/Silverhill Project oran Economic Develop- ment Project to help bring in or expand industry in the County. Applications for Community Revitalization Projects are due April 16, 1984, while Economic Develop- ment Projects are due June 1, 1984. The maximum amount of money we can apply for is $750,000 per year. Therefore, if we develop a $500,000 Residential Rehabilita- tion Project for instance, then we would only have $250,000 left for an Economic Development Project. A jurisdiction can not have more than $750,000 worth of project%under consideration at any time and the State will not announce winners for Community Revitalization until June 1, 1984. The Planning Staff has found several areas of the County in addition to ShankletoWn/ Silverhill where competitive CDBG Projects can be developed for the full $750,000. In addition, a local industry has recently been purchased by a Califorhia Micro- Computer parts company and is looking at either expanding here or moving to another State. I have talked with representatives~_o~iLs~f-iy~m"and'~they~are~very~-i-nte~et~ _ ~secu~ing:A,~qow~terest ~$600,000o~$750,000) through the Economic Develop~ '~ment Program. ..~) t~,- The Planning Staff needs direction from you and the Board of Commissioners as to which type of CDBG Application to develop.