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February 7, 2011 (Work Session) Page 303
<br />full time positions (FTP) with an average wage of $18.75 /hour for clerical,
<br />warehouse and drivers (53 FTE's) and $87,000 /year for managers, supervisors
<br />and sales (13 FTE's). Mr. McDaniels also reviewed the following grant
<br />analyses:
<br />Cabarrus County Economic Development Grant Analysis
<br />Real Property
<br />Cabarrus County Economic Development Grant Analysis
<br />Personal Property - 10% Depreciation
<br />Year 1
<br />Year 2
<br />Year 3
<br />Year 4
<br />Total Assessed Value
<br />$10,000,000.00
<br />$10,000,000.00
<br />$10,000,000.00
<br />$10,000,000.00
<br />County Taxes at .63
<br />$63,000.00
<br />$63,000.00
<br />$63,000.00
<br />$63,000.00
<br />Grant @ 85%
<br />$53,550.00
<br />$53,550.00
<br />$53,550.00
<br />Net Taxes to County
<br />$9,450.00
<br />$9,450.00
<br />$9,450.00
<br />$63,000.00
<br />3 Year Taxes
<br />$189,000.00
<br />3 Year Grant
<br />$160,650.00
<br />3 Year Net Revenue
<br />$28,350.00
<br />Cabarrus County Economic Development Grant Analysis
<br />Personal Property - 10% Depreciation
<br />Mr. McDaniels responded to a variety of questions from the Board
<br />primarily related to job creation and the consolidation /relocation of the
<br />company's Charlotte and Triad locations.
<br />UPON MOTION of Commissioner Carruth, seconded by Vice Chairman Poole
<br />and unanimously carried, the Board voted to place the Economic Development
<br />Grant Request for S.P. Richards Company on the February 21, 2011 Agenda as a
<br />New Business item and scheduled a public hearing for 6:30 p.m.
<br />Cabarrus County Schools - Request for Escrow Funds for Easements on
<br />Weddington Road for Road Improvements at H.E. Winkler Middle School -
<br />$21,324.00
<br />Len Witke, CCS Director of Construction, presented the following
<br />information related to a request to escrow funds totaling $21,324.00 for
<br />right -of -way and temporary construction easements on Weddington Road for road
<br />improvements at the H.E. Winkler Middle School: the Department of
<br />Transportation is requiring more road work than originally anticipated; an
<br />appraisal of the Chris Newsome property (4393 Weddington Road) was completed;
<br />Cabarrus County Schools (CCS) has tried to negotiate a settlement on multiple
<br />occasions with the Newsomes, without success; as a result, CCS is prepared to
<br />condemn the property in order to proceed with required road improvements;
<br />etc. Mr. Witke also responded to several questions from the Board related to
<br />the project's budget and location of the easements.
<br />UPON MOTION of Vice Chairman Poole, seconded by Commissioner Measmer
<br />and unanimously carried, the Board voted to place Request for Escrow Funds
<br />for Easements on Weddington Road for Road Improvements at H.E. Winkler Middle
<br />School - $21,324.00 on the February 21, 2011 Agenda as a Consent item.
<br />Commerce - 2011 -2012 HOME Program Public Hearing - 6:30 P.M.
<br />Kelly Sifford, Community Development Manager, requested a public
<br />hearing be held at the February 21, 2011 regular meeting for the HOME
<br />Program, a housing rehabilitation for low- income residents. She advised an
<br />annual public hearing and a 25 percent local match is required to obtain
<br />grant funding. She also responded to a variety of questions from the Board
<br />related to how the program works, investment protection - a "Deed of Trust"
<br />is recorded for each rehabilitation home, partnering with volunteer service
<br />organizations for smaller projects, etc.
<br />UPON MOTIO
<br />and unanimously
<br />the February 21,
<br />hearing for 6:30
<br />N of Vice Chairman Poole, seconded by Commissioner Burrage
<br />carried, the Board voted to place 2011 -2012 HOME Program on
<br />2011 Agenda as a New Business item and scheduled a public
<br />p.m.
<br />Year 1
<br />Year 2
<br />Year 3
<br />Year 4
<br />Total Assessed Value
<br />$1,800,000.00
<br />$1,620,000.00
<br />$1,458,000.00
<br />$1,312,200.00
<br />County Taxes at .63
<br />$11,340.00
<br />$10,206.00
<br />$9,185.40
<br />$8,266.86
<br />Grant @ 85%
<br />$9,639.00
<br />$8,675.10
<br />$7,807.59
<br />Net Taxes to County
<br />$1,701.00
<br />$1,530.90
<br />$1,377.81
<br />$8,266.86
<br />3 Year Taxes
<br />$30,731.40
<br />3 Year Grant
<br />$26,121.69
<br />3 Year Net Revenue
<br />$4,609.71
<br />Mr. McDaniels responded to a variety of questions from the Board
<br />primarily related to job creation and the consolidation /relocation of the
<br />company's Charlotte and Triad locations.
<br />UPON MOTION of Commissioner Carruth, seconded by Vice Chairman Poole
<br />and unanimously carried, the Board voted to place the Economic Development
<br />Grant Request for S.P. Richards Company on the February 21, 2011 Agenda as a
<br />New Business item and scheduled a public hearing for 6:30 p.m.
<br />Cabarrus County Schools - Request for Escrow Funds for Easements on
<br />Weddington Road for Road Improvements at H.E. Winkler Middle School -
<br />$21,324.00
<br />Len Witke, CCS Director of Construction, presented the following
<br />information related to a request to escrow funds totaling $21,324.00 for
<br />right -of -way and temporary construction easements on Weddington Road for road
<br />improvements at the H.E. Winkler Middle School: the Department of
<br />Transportation is requiring more road work than originally anticipated; an
<br />appraisal of the Chris Newsome property (4393 Weddington Road) was completed;
<br />Cabarrus County Schools (CCS) has tried to negotiate a settlement on multiple
<br />occasions with the Newsomes, without success; as a result, CCS is prepared to
<br />condemn the property in order to proceed with required road improvements;
<br />etc. Mr. Witke also responded to several questions from the Board related to
<br />the project's budget and location of the easements.
<br />UPON MOTION of Vice Chairman Poole, seconded by Commissioner Measmer
<br />and unanimously carried, the Board voted to place Request for Escrow Funds
<br />for Easements on Weddington Road for Road Improvements at H.E. Winkler Middle
<br />School - $21,324.00 on the February 21, 2011 Agenda as a Consent item.
<br />Commerce - 2011 -2012 HOME Program Public Hearing - 6:30 P.M.
<br />Kelly Sifford, Community Development Manager, requested a public
<br />hearing be held at the February 21, 2011 regular meeting for the HOME
<br />Program, a housing rehabilitation for low- income residents. She advised an
<br />annual public hearing and a 25 percent local match is required to obtain
<br />grant funding. She also responded to a variety of questions from the Board
<br />related to how the program works, investment protection - a "Deed of Trust"
<br />is recorded for each rehabilitation home, partnering with volunteer service
<br />organizations for smaller projects, etc.
<br />UPON MOTIO
<br />and unanimously
<br />the February 21,
<br />hearing for 6:30
<br />N of Vice Chairman Poole, seconded by Commissioner Burrage
<br />carried, the Board voted to place 2011 -2012 HOME Program on
<br />2011 Agenda as a New Business item and scheduled a public
<br />p.m.
<br />
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