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December 14, 2015 (Regular Meeting) Page 2615
<br />UPON MOTION of Commissioner Shue, seconded by Commissioner Mynatt and
<br />unanimously carried, the Board approved the resolution in Support for Project
<br />Pao.
<br />Resolution No. 2015 -32
<br />RESOLUTION IN SUPPORT
<br />WHEREAS, This RESOLUTION IN SUPPORT (RIS) authorized and approved by
<br />Cabarrus County, NC, hereinafter referred to as "COUNTY," on behalf of SunCap
<br />Property Group, hereinafter referred to as "PROSPECT, is as follows.
<br />WHEREAS, PROSPECT desires to build a new logistics facility hereinafter
<br />referred to as "PROJECT ", within the COUNTY;
<br />WHEREAS, PROSPECT proposes to invest approximately thirty nine million five
<br />hundred thousand dollars ($39,500,000) in PROJECT consisting of approximately
<br />one million six hundred thousand ($1,600,000) in offsite road improvements;
<br />WHEREAS, PROJECT will allow for the creation of between two hundred (200) and
<br />two hundred fifty (250) jobs;
<br />WHEREAS, PROSPECT request economic assistance with offsite road improvements
<br />for PROJECT;
<br />THEREFORE, THE CABARRUS COUNTY BOARD OF COMMISSIONERS RESOLVES THAT;
<br />1. The COUNTY supports the location of the PROJECT within the COUNTY;
<br />2. The COUNTY endorses the application of PROSPECT to request financial
<br />support from the North Carolina Department of Transportation (NCDOT) to
<br />assist in the funding of the offsite road improvements of PROJECT.
<br />Adopted this the 14th day of December, 2015.
<br />/s/ Stephen M. Morris
<br />Stephen M. Morris, Chairman
<br />Cabarrus County Board of Commissioners
<br />Attest:
<br />/s/ Megan Smit
<br />Megan Smit, Clerk to the Board
<br />(G -2) EDC - Economic Development Grant Request for Project Deliver - Public
<br />Hearing 6:30 P.M.
<br />Samantha Crass, Project Manager, Cabarrus Economic Development
<br />Corporation (EDC), presented a request for an Economic Development Grant
<br />request for Project Deliver (FedEx Ground Package System, Inc.) . She advised
<br />this grant request is for the tenant that will occupy the industrial grant
<br />facility that SunCap Charlotte LLC has proposed to construct. She stated
<br />FedEx Ground Package System, Inc. would invest $26,800,000.00 in personal
<br />property. She reviewed the following Grant Analysis and stated an Economic
<br />Development Grant was approved for this project by the City of Concord. She
<br />also responded to questions from the Board.
<br />Cabarrus County Economic Development Grant Analysis - Project Deliver
<br />Chairman Morris opened the public hearing at 6:52 p.m. The Public
<br />Hearing Notice was posted on the County's website (www.cabarrus county. us) in
<br />on December 2, 2015 in accordance with Article 2, Administration, Section 2.1
<br />(Use of Electronic Means to Provide Public Notices) of the Cabarrus County
<br />Code of Ordinances.
<br />There was no one present to address the Board; therefore, Chairman
<br />Morris closed the public hearing.
<br />Year 1
<br />Year 2
<br />Year 3
<br />Year 4
<br />Total Assessed Value
<br />$26,800,000.00
<br />$26,800,000.00
<br />$26,800,000.00
<br />$26,800,000.00
<br />County Taxes at .70
<br />$187,600.00
<br />$187,600.00
<br />$187,600.00
<br />$187,600.00
<br />Grant @ 85%
<br />$159,460.00
<br />$159,460.00
<br />$159,460.00
<br />Net Taxes to County
<br />$28,140.00
<br />$28,140.00
<br />$28,140.00
<br />$187,600.00
<br />3 Year Taxes
<br />$562,800.00
<br />3 Year Grant
<br />$478,380.00
<br />3 Year Net Revenue
<br />$84,420.00
<br />Chairman Morris opened the public hearing at 6:52 p.m. The Public
<br />Hearing Notice was posted on the County's website (www.cabarrus county. us) in
<br />on December 2, 2015 in accordance with Article 2, Administration, Section 2.1
<br />(Use of Electronic Means to Provide Public Notices) of the Cabarrus County
<br />Code of Ordinances.
<br />There was no one present to address the Board; therefore, Chairman
<br />Morris closed the public hearing.
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