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October 16, 2017 (Regular Meeting) Page 3329
<br /> Silverman Group CABP Phase 3 - Building 2
<br /> Cabarrus County Economic Development Grant Analysis
<br /> Year 1 Year 2 Year 3
<br /> Total Assessed Value $8,000,000.00 $8,000,000.00 $8,000,000.00
<br /> County Taxes at .70 $56,000.00 $56,000.00 $56,000.00
<br /> Grant @ 85% $47,600.00 $47, 600.00 $47, 600.00
<br /> Net Taxes to County $8,400.00 $8,400.00 $8,400.00
<br /> 3 Year Taxes $168,000.00
<br /> 3 Year Grant $142,800.00
<br /> 3 Year Net Revenue $25,200.00
<br /> Silverman Group CABP Phase 3 - Building 4
<br /> Cabarrus County Economic Development Grant Analysis
<br /> Year 1 Year 2 Year 3
<br /> Total Assessed Value $14,000,000.00 $14,000,000.00 $14,000,000.00
<br /> County Taxes at .70 $98,000.00 $98,000.00 $98,000.00
<br /> Grant @ 85% $83,300.00 $83,300.00 $83,300.00
<br /> Net Taxes to County $14,700.00 $14,700.00 $14,700.00
<br /> 3 Year Taxes $294,000.00
<br /> 3 Year Grant $249, 900.00
<br /> 3 Year Net Revenue $44,100.00
<br /> Chairman Morris opened the public hearing at 7 :25 p.m. The public hearing
<br /> notice was posted on the County's website (www.cabarruscounty.us) on October 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 /> Vice Chairman Honeycutt MOVED to approve an economic development
<br /> investment agreement (three-year, 85 percent) between SL 1000 Derita Road LLC
<br /> (The Silverman Group) and Cabarrus County, and to authorize the county Manager
<br /> to execute the agreement on behalf of the Board, subject to review or revision
<br /> by the County Attorney.
<br /> Richard Koch, County Attorney requested more specific language to be
<br /> included in the motion.
<br /> Vice Chairman Honeycutt amended the MOTION to approve an economic
<br /> development investment agreement (three-year, 85 percent) between SL 1000 Derita
<br /> Road LLC (The Silverman Group) and Cabarrus County. Specifically, as to Building
<br /> 1, a modification to the original grant as presented by the EDC and as for
<br /> Buildings 2 and 4, a new grant agreement as stated by EDC staff and to authorize
<br /> the County Manager to execute the agreement on behalf of the Board, subject to
<br /> review or revision by the County Attorney. Commissioner Shue seconded the
<br /> motion.
<br /> The MOTION unanimously carried.
<br /> (G-3) DHS - FY19 5311 Community Transportation Grant - Public Hearing 6:30
<br /> p.m.
<br /> Bob Bushey, Department of Human Services (DHS) , Transportation Manager,
<br /> reported this year' s 5311 Community Transportation Grant is for $139, 673 with
<br /> a 15 percent local match of $20, 952. He advised the Department is also applying
<br /> for 22 tablets to go into the vehicles to replace outdated equipment for $8, 750
<br /> with a 10 percent local match of $875. He stated a public hearing is required
<br /> to apply for this grant.
<br /> Chairman Morris opened the public hearing at 7:28 p.m. The public hearing
<br /> notice was published in English and Spanish on October 4, 2017 in The Independent
<br /> Tribune. The public hearing notice was also posted on the County's website
<br /> (www.cabarruscounty.us) in English and Spanish on October 3, 2017 in accordance
<br /> with Article 2, Administration, Section 2.1 (Use of Electronic Means to Provide
<br /> Public Notices) of the Cabarrus County Code of Ordinances.
<br /> There was no one present to address the Board; therefore, Chairman Morris
<br /> closed the public hearing.
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