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February 21, 2011 (Regular Meeting)
<br />Page 319
<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 advised the EDC Board of Directors approved the grant on
<br />January 25 and the Kannapolis City Council approved a similar grant for the
<br />company on February 14 He also responded to questions from the Board
<br />related.
<br />Chairman White opened the public hearing at 6:55 p.m. The Public
<br />Hearing Notice was posted on the County's website ( www.cabarrus county. us ) on
<br />February 9, 2011 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 />White closed the public hearing.
<br />Commissioner Carruth MOVED to approve a 3 -year 85 percent economic
<br />development grant for Genuine Parts Company, dba, S.P. Richards Company as
<br />set forth above.
<br />Commissioner Measmer expressed his intent to vote against the motion.
<br />He asserted that many of the 66 proposed jobs will likely be filed by
<br />Mecklenburg County residents since the company plans to relocate its Winston -
<br />Salem and Mecklenburg locations and that only a few jobs will go to Cabarrus
<br />County residents. He also addressed the need for incentive reform at the
<br />Federal level and for a level playing field amongst all counties. Further,
<br />he advised that there are many local businesses employing more people that
<br />have never asked for or received an incentive. However, he expressed support
<br />for an economic development grant for a very large company that could come to
<br />the Philip Morris site.
<br />Chairman White seconded the motion and expressed his intent to vote for
<br />the motion, citing the need for new jobs and more investment in Cabarrus
<br />County.
<br />After a general discussion, the MOTION carried with Chairman White,
<br />Vice Chairman Poole and Commissioner Carruth voting for and Commissioners
<br />Burrage and Measmer voting against.
<br />(G -2) Commerce - 2011 -2012 HOME Program Public Hearing - 6:30 P.M. and
<br />Participation in the Cabarrus /Iredell /Rowan HOME Consortium for 2011 -2014
<br />Kelly Sifford, Community Development Manager, reported the current
<br />Cabarrus /Iredell /Rowan HOME Consortium participation agreement expires this
<br />year and the County will need to enter into a new 3 -year Agreement for 2011-
<br />2014 in order to continue to participate in the federally funded housing
<br />rehabilitation program for low- income families. She advised that a public
<br />hearing for the HOME Program is also required to participate in the grant
<br />program and estimated the County will receive approximately $113,000.00 in
<br />rehabilitation funds. She further advised, in response to questions from the
<br />Board, that the County must provide a 25 percent match, which is included in
<br />the annual budget process.
<br />Chairman White opened the public hearing at 7:05 p.m. The Public
<br />Hearing Notice was published in THE INDEPENDENT TRIBUNE on February 9 and 11,
<br />2011. The Public Hearing Notice was also posted on the County's website
<br />( www.cabarrus county. us ) on February 8, 2011 in accordance with Article 2,
<br />Administration, Section 2.1 (Use of Electronic Means to Provide Public
<br />Notices) of the Cabarrus County Code of Ordinances.
<br />There was no one present to address the Board; therefore, Chairman
<br />White closed the public hearing.
<br />Vice Chairman Poole MOVED to participate in the Cabarrus/ Iredell /Rowan
<br />HOME Consortium for 2011 -2014 and to provide the 25 percent local match for
<br />the HOME program. Commissioner Carruth seconded the motion.
<br />Vice Chairman Poole commented on the importance of federal grant funds,
<br />leveraged locally, to rehabilitate substandard homes for the elderly and low-
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