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July 2, 2012 (Work Session)
<br />Page 1149
<br />Bradt HRa erCry
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<br />Year 2
<br />Year 3
<br />Year 4
<br />Total Assessed value
<br />$69,000,000.00
<br />$62,100,000.00
<br />$55,890,000.00
<br />$50,301,000.00
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<br />Cher S Cmboe Neplac —M
<br />Year 2
<br />Year 3
<br />Year 4
<br />Total Assessed value
<br />$69,000,000.00
<br />$62,100,000.00
<br />$55,890,000.00
<br />$50,301,000.00
<br />County Taxes at .70
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<br />$391,230.00
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<br />Grant @ 850
<br />$410,550.00
<br />$369,495.00
<br />$332,545.50
<br />Net Taxes to County
<br />$72,450.00
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<br />$352,107.00
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<br />3 Year Taxes
<br />$1,308,930.00
<br />3 Year Grant
<br />$1,112,590.50
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<br />Ms. Kluttz and Mr. Connellee responded to a variety of questions from
<br />the Board. She also explained the format of the QSCB report was revised to
<br />provide the Board with better, more meaningful information. She also
<br />requested $31,500.00 be moved from the J. N. Fries Middle School budget for
<br />technology upgrades to the Winecoff Elementary School for switches. Chairman
<br />Poole advised this request could be included with another CCS item on the July
<br />agenda so the work could be completed before school starts.
<br />Mr. Connellee briefly reviewed the ` report.
<br />Len Witke, CCS Executive Director, Facilities Management, was also in
<br />attendance. No action was taken.
<br />Commissioner Carruth arrived at 4:14 p.m. and was present for the
<br />remainder of the meeting.
<br />Will Crabtree, Kannapolis City Schools, was unable to attend the
<br />meeting; therefore, the Board did not receive an update on those projects.
<br />Chairman Poole requested Mr. Crabtree present his report at the regular
<br />meeting.
<br />BOC - Old Bethel School Properly
<br />Jonathan Marshall, Deputy County Manager, reported the Board voted on
<br />May 24, 2012 to sell the old Bethel School property in Midland, using the
<br />upset bid process, without restrictions and with a $10,000.00 minimum bid.
<br />Two (2) bids were received from Woodson University and C- Voltaics. Both bids
<br />were for $10,000.00. He further reported, once a bid is accepted by the
<br />Board, the upset bid process will begin and continue until ten (10) days pass
<br />without an upset bid.
<br />A brief discussion ensued regarding the need for a resolution defining
<br />the upset bid process and the process for selecting a bid. County Manager,
<br />Mike Downs, also responded to questions from the Board.
<br />Discussion Items for Action at July 16, 2012 Meeting
<br />EDC - Economic Development Grant Request and Public Hearing - 4:00 P.M.
<br />UPON MOTION of Commissioner White, seconded by Commissioner Carruth and
<br />unanimously carried, the Board suspended its rules of procedures in order to
<br />take action on this item due to time constraints.
<br />Ryan McDaniels, Cabarrus Economic Development Corporation (EDC),
<br />requested an economic development grant for Corning, a local glass
<br />manufacturer located in Midland. The company plans to expand its current
<br />operation with an investment of $69 million in personal property. He also
<br />advised a number of new, high - paying jobs will be created with this expansion.
<br />However, the exact number of jobs cannot be determined until the company
<br />selects a location for the expansion. The grant request (3 year, 85 percent)
<br />was approved by the EDC board on June 6, 2012. Mr. McDaniels also reported
<br />the Board approved an economic development grant for Corning in April based on
<br />a $50 million investment.
<br />Cabarrus County Economic Development Grant Analysis - Project Corning
<br />Year 1
<br />Year 2
<br />Year 3
<br />Year 4
<br />Total Assessed value
<br />$69,000,000.00
<br />$62,100,000.00
<br />$55,890,000.00
<br />$50,301,000.00
<br />County Taxes at .70
<br />$483,000.00
<br />$434,700.00
<br />$391,230.00
<br />$352,107.00
<br />Grant @ 850
<br />$410,550.00
<br />$369,495.00
<br />$332,545.50
<br />Net Taxes to County
<br />$72,450.00
<br />$65,205.00
<br />$58,684.50
<br />$352,107.00
<br />3 Year Taxes
<br />$1,308,930.00
<br />3 Year Grant
<br />$1,112,590.50
<br />
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