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January 17, 2017 (Regular Meeting) Page 3007
<br /> (F-3) Tax Administration - Refund and Release Report - December 2016
<br /> The Release Report contains taxpayers' names, bill numbers, valuations,
<br /> tax amounts, along with the justifications for releasing the valuation/tax
<br /> amounts for outstanding levies in accordance with N.C.G.S. 105-381. The Refund
<br /> report is a summary sheet which lists data from each refund request form, along
<br /> with the justification for the refunds to the taxpayers in accordance
<br /> with N.C.G.S. 105-381.
<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 Commissioner Kiger, seconded by Commissioner Shue and
<br /> unanimously carried, the Board approved the December, 2016 Refund-Release report
<br /> as submitted, including the NCVTS Refund Report and granted authority to the
<br /> 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 - Project Fall - Public Hearing 6:30
<br /> P.M. -
<br /> Robert Carney, Jr. , Cabarrus Economic Development Corporation (EDC) ,
<br /> Executive Director, reported Project Fall is a new recreational business project
<br /> for the community. He recognized site consultant Ernst and Young for their
<br /> work on the project.
<br /> Samantha Grass, EDC, Recruitment Project Manager, presented a request for
<br /> an Economic Development Investment for Project Fall (3 year, 85 percent) . She
<br /> stated SkyGroup Investments, LLC (subsidiary of iFLY Holdings) proposes to build
<br /> a 6, 000 square foot facility in Concord at 7840 Lyles Lane. If approved, she
<br /> advised, SkyGroup would build an indoor skydiving facility that offers a
<br /> realistic and safe skydiving experience. She stated the facility is expected
<br /> to serve over 50, 000 customers annually. She further advised Project Fall is
<br /> projecting an investment of $10, 000, 000.00 ($6, 000, 000.00 in real property and
<br /> $4,000, 000.00 in personal property) and expects to create 26 new jobs (18 full-
<br /> time jobs at an average wage of $40, 000.00 and 8 part-time jobs at an average
<br /> of $16, OCO. 00) .
<br /> Cabarrus County Economic Development Grant Analysis_° Project Fall
<br /> Year 1 Year 2 Year 3
<br /> Total Assessed Value $10,000,000.00 $10,000,000.00 $10,000,000.00
<br /> County Taxes at .70 $70,000.00 $70,000.00 $70,000.00
<br /> Grant @ 85% $591500.00 $59,500.00 $59,500.00
<br /> Net Taxes to County $10,500.00 $10,500.00 $10,500.00
<br /> 3 Year Taxes $210,000.00
<br /> 3 Year Grant $178,500.00
<br /> 3 Year Net Revenue $31,500.00
<br /> A discussion ensued. During discussion, Ms. Grass responded to questions
<br /> from the Board.
<br /> Chairman Morris opened the public hearing at 6:52 p.m. The public hearing
<br /> notice was posted on the County' s website (www.cabarruscounty.us) on January 5,
<br /> 2017 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 Commissioner Shue, seconded by Vice Chairman Honeycutt and
<br /> unanimously carried, the Board approved an economic development investment
<br /> agreement (3 years, 85 percent) between Project Fall and Cabarrus County, and
<br /> authorized the County Manager to execute the Agreement on behalf of the Board,
<br /> subject to review or revision by the County Attorney.
<br /> (G-2) Economic Development Investment - Project G2 - Public Hearing
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