BC 2016 03 21 Regular Meeting - Laserfiche WebLink

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March 21, 2016 (Regular Meeting) Page 2681 UPON MOTION of Vice Chairman Honeycutt, seconded by Commissioner Shue and unanimously carried, the Board approved the February 2016 Refund - Release report, along with the NCVTS Refund report, as submitted and granted authority to the Tax Collector to process the refunds and releases. The report is hereby incorporated into the minutes by reference and is on file with the Clerk to the Board. G) NEW BUSINESS (G -1) E]DC - Economic Development Grant Request for Project Silver - Public Hearing 6:30 P.M. Samantha Grass, Project Manager, Cabarrus Economic Development Corporation (EDC), presented an Economic Development Grant Request for Project Silver (1000 Derita Road, LLC, The Silverman Group). She stated The Silverman Group proposes to construct a 300,000 square foot industrial speculative building on a 100 plus acre site on Derita Road with a projected investment of approximately $17 million for the facility. She requested a three -year grant equivalent to 85 percent of the ad valorem taxes on the increase in real and personal property tax values. Cabarrus County Economic Development Grant Analysis - Project Silver Chairman Morris opened the public hearing at 7 :12 p.m. The Public Hearing Notice was posted on the County's website ( www.cabarruscounty.us ) on March 9, 2016 in accordance with Article 2, Administration, Section 2.1 ('Use of Electronic Means to Provide Public Notices) of the Cabarrus County Code of Ordinances. There was no one present to address the Board, therefore, Chairman Morris closed the public hearing. Commissioner Shue MOVED to approve an Economic Development Grant (3 years, 83 percent) between Project Silver and Cabarrus County, and to authorize the County Manager to execute the Agreement on behalf of the Board, subject to review or revision by the County Attorney. Commissioner Mynatt seconded the motion. Commissioner Mynatt reiterated for the public, that $53,550.00 in taxes will be received from this property in the first three years, and that taxpayer dollars are not being given to the company. The MOTION unanimously carried. (G -2) Cooperative Extension - Proposed Amendment to the Code of Ordinances Regarding the 'V'oluntary Agricultural District Ordinance - Public Hearing 6:30 P.M. Robert Furr, Cooperative Extension Director, advised the Cabarrus County Agricultural Advisory Board recommends two revisions to the Voluntary Agricultural District Ordinance to better align with Chapter 106, Article 61 of the North Carolina General Statutes (Agricultural Development and Preservation of Farmland): 1) Specifically, it is recommended to revise the required definition of "Qualifying Farmland" to remove the farm present -use- value taxation program and replace it with the terminology now used in the state statute (G.S. 106 - 58101); and 2) To clarify the renewal of the Voluntary Agricultural district is automatic every 10 years unless the landowner provides written notice no later than 30 days prior to the termination date. Chairman Morris opened the public hearing at 7:15 p.m. The Public Hearing Notice was posted on the County's website ( www.cabarrus county. us ) on March 9, 2016 in accordance with Article 2, Administration, Section 2.1 (Use of Electronic Means to Provide Public Notices) of the Cabarrus County Code of Ordinances. Year 1 Year 2 Year 3 Total Assessed Value $17,000,000.00 $17,000,000.00 $17,000,000.00 County Taxes at .70 $119,000.00 $119,000.00 $119 Grant @ 85% $101,150.00 $101,150.00 $101,150.00 Net Taxes to County $17,850.00 $17,850.00 $17,850.00 3 Year Taxes $357,000.00 3 Year Grant $303,450.00 3 Year Net Revenue $53,550.00 Chairman Morris opened the public hearing at 7 :12 p.m. The Public Hearing Notice was posted on the County's website ( www.cabarruscounty.us ) on March 9, 2016 in accordance with Article 2, Administration, Section 2.1 ('Use of Electronic Means to Provide Public Notices) of the Cabarrus County Code of Ordinances. There was no one present to address the Board, therefore, Chairman Morris closed the public hearing. Commissioner Shue MOVED to approve an Economic Development Grant (3 years, 83 percent) between Project Silver and Cabarrus County, and to authorize the County Manager to execute the Agreement on behalf of the Board, subject to review or revision by the County Attorney. Commissioner Mynatt seconded the motion. Commissioner Mynatt reiterated for the public, that $53,550.00 in taxes will be received from this property in the first three years, and that taxpayer dollars are not being given to the company. The MOTION unanimously carried. (G -2) Cooperative Extension - Proposed Amendment to the Code of Ordinances Regarding the 'V'oluntary Agricultural District Ordinance - Public Hearing 6:30 P.M. Robert Furr, Cooperative Extension Director, advised the Cabarrus County Agricultural Advisory Board recommends two revisions to the Voluntary Agricultural District Ordinance to better align with Chapter 106, Article 61 of the North Carolina General Statutes (Agricultural Development and Preservation of Farmland): 1) Specifically, it is recommended to revise the required definition of "Qualifying Farmland" to remove the farm present -use- value taxation program and replace it with the terminology now used in the state statute (G.S. 106 - 58101); and 2) To clarify the renewal of the Voluntary Agricultural district is automatic every 10 years unless the landowner provides written notice no later than 30 days prior to the termination date. Chairman Morris opened the public hearing at 7:15 p.m. The Public Hearing Notice was posted on the County's website ( www.cabarrus county. us ) on March 9, 2016 in accordance with Article 2, Administration, Section 2.1 (Use of Electronic Means to Provide Public Notices) of the Cabarrus County Code of Ordinances.