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August 15, 2016 (Regular Meeting) Page 2854
<br />caliber, serial number 47A042249) as surplus property and awarded it to Sergeant
<br />Bryan Archer for the price of $1.00 upon his retirement.
<br />(F-11) Tax Administration - Refund and Release Report - July 2016
<br />Release report contains taxpayers' names, bill numbers, valuations, tax
<br />amounts, along with the justifications for releasing the valuation /tax amounts
<br />for outstanding levies in accordance with N.C.G.S. 105 -381. Refund report is
<br />a summary sheet which lists data from each refund request form, along with the
<br />justification for the refunds to the taxpayers in accordance with N.C.G.S. 105-
<br />381.
<br />Note: Due to the transition of motor vehicles onto the new North Carolina
<br />Vehicle Tax System (NCVTS), motor vehicle- related refunds and releases will
<br />begin to be displayed on the new report generated by NCVTS.
<br />UPON MOTION of Vice Chairman Honeycutt, seconded by Commissioner Shue and
<br />unanimously carried, the Board approved the July 2016 Refund - Release report as
<br />submitted, including the attached NCVTS Refund Reports, and granted authority
<br />to the Tax Collector to process the refunds and releases. The report is hereby
<br />incorporated into the minutes by reference and is on file with the Clerk to the
<br />Board.
<br />(G) NEW BUSINESS
<br />(G -1) Economic Development Investment Hotel Concord - Public Hearing 6:30 P.M.
<br />Chairman Morris reported Rehab Development, Inc. is working on the
<br />redevelopment of the Hotel Concord, the Concord Telephone Exchange Company and
<br />Fifth -Third Bank properties adjacent to the Hotel into a mixed use
<br />residential /commercial /retail project. He advised consideration is requested
<br />for an economic development amortizable loan not -to- exceed $105,000.00, to be
<br />funded equally over five years, with clawbacks. He advised statutory authority
<br />for this loan is permitted under North Carolina General Statutes (NCGS) 158 -
<br />7.1(b)(8). He stated the City of Concord is also providing economic development
<br />assistance for this project. He further advised of the availability of Diane
<br />Young, Concord Downtown Development Corporation (CDDC) , and Patrick Riley, Rehab
<br />Development, Inc., to answer any questions.
<br />Chairman Morris opened the public hearing at 6:43 p.m. The Public Hearing
<br />Notice was posted on the County's website ( www.cabarruscounty.us ) on August 3,
<br />2016 in accordance with Article 2, Administration, Section 2.1 (Use of
<br />Electronic Means to Provide Public Notices) of the Cabarrus County Code of
<br />Ordinances.
<br />There was no one present to address the Board; therefore, Chairman Morris
<br />closed the public hearing.
<br />UPON MOTION of Vice Chairman Honeycutt, seconded by Commissioner Mynatt
<br />and unanimously carried, the Board authorized Cabarrus County to enter into an
<br />economic development agreement with Rehab Development, Inc. for the provision
<br />of a $105,000.00 loan, with clawbacks, to be funded equally over five years and
<br />forgiven upon the happening of certain conditions relating to the successful
<br />completion of the project and authorized the County Manager to execute the
<br />agreement subject to review or revision by the County Attorney.
<br />UPON MOTION of Commissioner Shue, seconded by Commissioner Mynatt and
<br />unanimously carried, the Board adopted the related budget revision.
<br />Date:8 /15/2016 Amcunt: $ 2 1, 0 0 0
<br />Dept. Head: Pamela S Dubois Department: Economic Incentives
<br />❑ Internal Transfer within Department © Transfer Between Departments /Funds ❑ Supplemental Request
<br />Purpose: To appropriate funds for the Concord Hotel Proiect.
<br />Account
<br />Number
<br />Account
<br />I Name
<br />Approved
<br />Budget
<br />Inc
<br />Amount
<br />Dec
<br />Amount
<br />Revised
<br />Budget
<br />00193320- 9710035
<br />JHotel concord
<br />$0.00
<br />$21,000.00
<br />$21,000.00
<br />00191910 --9660
<br />Icontingency (unallocat
<br />$54,612.00
<br />$21,000.00
<br />$33,612.00
<br />(G -2) GCS - Request for Closing Costs for Purchase of New High School Property
<br />Tim Lowder, Cabarrus County Schools (CCS), Executive Director of
<br />Operations, reported when CCS requested $4,600,000.00 to purchase land for the
<br />new high school off Weddington Road, closing costs were not included in the
<br />amount. He requested funding for closing costs in an amount not -to- exceed
<br />$15,000.00 per estimates by the CCS Board of Education's attorney.
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