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September 19, 2011 (Regular Meeting)
<br />Page 620
<br />3 Year Net Revenue 1 $23,530.50
<br />Cabarrus County Economic Development Grant Analysis
<br />Personal Property - 10% Dep
<br />Amaretto - 2013
<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 />$800,000.00
<br />$720,000.00
<br />$648,000.00
<br />$583,200.00
<br />County Taxes at .63
<br />$5,040.00
<br />$4,536.00
<br />$4,082.00
<br />$3,674.16
<br />Grant @ 85%
<br />$4,284.00
<br />$3,855.60
<br />$3,470.04
<br />Net Taxes to County
<br />$756.00
<br />$680.40
<br />$612.36
<br />$3,674.16
<br />3 Year Taxes
<br />$13,658.40
<br />3 Year Grant
<br />$11,609.64
<br />3 Year Net Revenue
<br />$2,048.76
<br />Amaretto - 2013
<br />Cabarrus County Economic Development Grant Analysis
<br />Real Property
<br />Cabarrus County Economic Development Grant Analysis
<br />Personal Property - 10% Dep
<br />Year 1
<br />Year 2
<br />Year 3
<br />Year 4
<br />Total Assessed Value
<br />$1,400,000.00
<br />$1,400,000.00
<br />$1,400,000.00
<br />$1,400,000.00
<br />County Taxes at .63
<br />$8,820.00
<br />$8,820.00
<br />$8,820.00
<br />$8,820.00
<br />Grant @ 85%
<br />$7,497.00
<br />$7,497.00
<br />$7,497.00
<br />Net Taxes to County
<br />$1,323.00
<br />$1,323.00
<br />$1,323.00
<br />$8,820.00
<br />3 Year Taxes
<br />$26,460.00
<br />3 Year Grant
<br />$22,491.00
<br />3 Year Net Revenue
<br />$3,969.00
<br />Cabarrus County Economic Development Grant Analysis
<br />Personal Property - 10% Dep
<br />UPON MOTION of Vice Chairman Poole, seconded by Commissioner Carruth,
<br />with Chairman White, Vice Chairman Poole and Commissioner Carruth voting for
<br />and Commissioners Burrage and Measmer voting against, the Board approved an
<br />Economic Development Grant for PreGel America, Inc.'s expansion project as
<br />set forth above and authorized the County Manager and County Attorney to
<br />finalize the documentation.
<br />(G -5) Commerce - Additional American Recovery and Reinvestment Act Funding
<br />for Weatherization
<br />Kelly Sifford, Community Development Manager, advised that additional
<br />American Recovery and Reinvestment Act (ARRA) funding for the Weatherization
<br />program is available for agencies that have met the program's standards,
<br />noting that Cabarrus is only the second agency to meet the standards. The
<br />amount, $75,000.00, is based on the county's current client waiting list.
<br />Ms. Sifford responded to a variety of questions from the Board concerning:
<br />what will happen to the 26 clients on the waiting list; outreach efforts;
<br />etc. Further, she reviewed program requirements for income, average
<br />household size, number of disabled persons residing in the home, number of
<br />Veterans, type of home and ownership, etc. She responded to additional
<br />questions on other county repair programs available for the elderly and low -
<br />income population and noted that many of these citizens are often behind in
<br />their utility bills due to the poor conditions of their homes or inefficient
<br />heating systems. A general discussion ensued on disconnection and
<br />reconnection of utilities with Ms. Sifford responding to further questions
<br />from the Board about the program.
<br />Commissioner Measmer expressed concerns with renters being eligible to
<br />participate in the program. He said the program removes personal
<br />responsibility from the client to maintain their home and that spending tax
<br />dollars (local, state or federal) in this way is an inappropriate
<br />expenditure.
<br />Commissioner Carruth expressed appreciation to Ms. Sifford on her
<br />efforts. After commenting on the current status of the Federal budget, he
<br />Year 1
<br />Year 2
<br />Year 3
<br />Year 4
<br />Total Assessed Value
<br />$300,000.00
<br />$270,000.00
<br />$243,000.00
<br />$218,700.00
<br />County Taxes at .63
<br />$1,890.00
<br />$1,701.00
<br />$1,530.90
<br />$1,377.81
<br />Grant @ 85%
<br />$1,606.50
<br />$1,445.85
<br />$1,301.27
<br />Net Taxes to County
<br />$283.50
<br />$255.15
<br />$229.64
<br />$1,377.81
<br />3 Year Taxes
<br />$5,121.90
<br />3 Year Grant
<br />$4,353.62
<br />3 Year Net Revenue
<br />$768.29
<br />UPON MOTION of Vice Chairman Poole, seconded by Commissioner Carruth,
<br />with Chairman White, Vice Chairman Poole and Commissioner Carruth voting for
<br />and Commissioners Burrage and Measmer voting against, the Board approved an
<br />Economic Development Grant for PreGel America, Inc.'s expansion project as
<br />set forth above and authorized the County Manager and County Attorney to
<br />finalize the documentation.
<br />(G -5) Commerce - Additional American Recovery and Reinvestment Act Funding
<br />for Weatherization
<br />Kelly Sifford, Community Development Manager, advised that additional
<br />American Recovery and Reinvestment Act (ARRA) funding for the Weatherization
<br />program is available for agencies that have met the program's standards,
<br />noting that Cabarrus is only the second agency to meet the standards. The
<br />amount, $75,000.00, is based on the county's current client waiting list.
<br />Ms. Sifford responded to a variety of questions from the Board concerning:
<br />what will happen to the 26 clients on the waiting list; outreach efforts;
<br />etc. Further, she reviewed program requirements for income, average
<br />household size, number of disabled persons residing in the home, number of
<br />Veterans, type of home and ownership, etc. She responded to additional
<br />questions on other county repair programs available for the elderly and low -
<br />income population and noted that many of these citizens are often behind in
<br />their utility bills due to the poor conditions of their homes or inefficient
<br />heating systems. A general discussion ensued on disconnection and
<br />reconnection of utilities with Ms. Sifford responding to further questions
<br />from the Board about the program.
<br />Commissioner Measmer expressed concerns with renters being eligible to
<br />participate in the program. He said the program removes personal
<br />responsibility from the client to maintain their home and that spending tax
<br />dollars (local, state or federal) in this way is an inappropriate
<br />expenditure.
<br />Commissioner Carruth expressed appreciation to Ms. Sifford on her
<br />efforts. After commenting on the current status of the Federal budget, he
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