Laserfiche WebLink
September 6, 2011 (Work Session) <br />® Appointments - Juvenile Crime Prevention Council (JCPC) <br />Reports <br />Page 580 <br />® FPC - Cabarrus County Food System Assessment Final Report <br />® BOC - Receive Updates from Commission Members Who Serve as Liaisons to <br />Municipalities or on Various Boards /Committees <br />® Request for Applications for County Boards /Committees <br />County Manager - Update on CCS and KCS QSCB (Qualified School Construction <br />Bonds) Project <br />Will Crabtree, Kannapolis City Schools, presented a brief update on <br />QSCB (Qualified School Construction Bonds) projects for Kannapolis City <br />Schools (KCS). He advised that contracts are in place with mechanical, <br />electrical and roofing engineers, which satisfies the program's spending <br />requirements. No action was taken. <br />EDC - Economic Development Grant - PreGel America, Inc. - Expansion <br />UPON MOTION of Commissioner Measmer, seconded by Commissioner Burrage <br />and unanimously carried, the Board voted to place "Economic Development Grant <br />- PreGel America, Inc. - Expansion" on the September 19, 2011 Agenda as a New <br />Business item. <br />In response to questions from the Board, Richard Koch, County Attorney, <br />advised the expansion grant for the gelato manufacturer in Concord is being <br />modified and a public hearing will not be required. <br />Note: The Board approved an Industrial Development Incentive Grant for <br />PreGel (40,000 sq. ft. expansion) on August 18, 2008 after holding a public <br />hearing. <br />The project overview and grant analysis as presented in the agenda are <br />as follows: <br />PROJECT OVERVIEW (estimated) - Project Amaretto <br />Company's Legal Name: PreGel America <br />Company Representative: Marco Casol /Rusty Chapman <br />Contact Information: <br />Address: 4450 Fortune Ave NW, Concord 28027 <br />Phone: 704 - 707 -0300 <br />Fax: 704 - 707 -0301 <br />State of Incorporation: NC <br />Nature of Business: Gelato Manufacturer <br />Current operations in Cabarrus County: International Business Park, Concord <br />Current Employment: 77 (average wage current employees, $51,250) <br />Proposed new or additional Cabarrus facility - <br />Proposed Location: 4450 Fortune Ave NW <br />Additional Square Feet: 130,000 <br />Investment: <br />2011 <br />Real Estate: $400,000 <br />Equipment: $ 200,000 <br />2012 <br />Real Estate: $8,300,000 <br />Equipment: $800,000 <br />2013 <br />Real Estate: $1,400,000 <br />Equipment: $300,000 <br />Total Investment: $11,400,000 <br />Number of new full time jobs: 45 (in years 2011 -2013) 6 (in years 2014- <br />2015). Average Wage: $40,500 <br />Amaretto - 2011 <br />Cabarrus County Economic Development Grant Analysis <br />Real Property <br />Year 1 <br />Year 2 <br />Year 3 <br />Year 4 <br />Total Assessed Value <br />$400,000.00 <br />$400,000.00 <br />$400,000.00 <br />$400,000.00 <br />County Taxes at .63 <br />$2,520.00 <br />$2,520.00 <br />$2,520.00 <br />$2,520.00 <br />Grant @ 85% <br />$2,142.00 <br />$2,142.00 <br />$2,142.00 <br />