BC 2010 02 15 Regular - Laserfiche WebLink

Home Browse Search

February 15, 2010 (Regular Meeting) Page 1821 Vice Chairman Poole solicited builders and interior design professionals to provide mentoring (job shadowing) and/or unpaid internships to high school students participating in the housing and interior design programs. She advised that job sites are also needed and asked interested individuals to contact her or any of the high schools. Chairman White thanked Wayne Williams, Chairman of the Cabarrus County Board of Education, for attending the meeting. (K) WATER AND SEWER DISTRICT OF CP.BARRUS COUNTY None. (L) CLOSED SESSION (L-1) Closed Session - A Closed Session is Needed to Discuss the Acquisition of Real Property as Authorized by NCGS 143-318.11(a)(5)(i) (L-2) Closed Session - A Closed Session is Needed to Discuss the Location or Expansion of a Business/Industry and to Discuss a Personnel Matter as Authorized by NCGS 143.318.11(a)(4) and (6) UPON MOTION of Vice Chairman Poole, seconded by Commissioner Mynatt and unanimously carried, the Board moved to go into Closed Session to discuss property acquisition, the location or expansion of business or industry and a personnel matter as authorized by NCGS 143-318.11(a)(4),(5)(i)and (6). By the same vote, the Board invited Mike Downs, Deputy County Manager, John Cox and Ryan McDaniels from the Cabarrus EDC (Economic Development Corporation) to join the meeting. -UPON MOTION of Commissioner Carruth, seconded by Commissioner Privette and unanimously carried, the Board moved to come out of Closed Session at 8:39 p.m. Approval of Retirement Incentives for Eligible Employees UPON MOTION of Commissioner Carruth, seconded by Commissioner Mynatt and unanimously carried, the Board to offer a retirement incentive equal to three month's base salary to employees eligible for retirement benefits through the Local Government Employees' Retirement System. To quality, employees must give notice of retirement by June 30, 2010 and retire by December 31, 2010. Addition to the Agenda - Discussion on TIF (Tax Increment Financing) UPON MOTION of Vice Chairman Poole, seconded by Commissioner Mynatt and unanimously carried, the Board added a discussion on Tax Increment Financing to the Agenda. Discussion on TIF (Tax Increment Financing) John Day, County Manager, provided an update on the Tax Increment Financing for Kannapolis. Highlights included the following: Kannapolis wants to borrow $30 million and according to the County's underwriter, the only way the TIF (Tax Increment Financing) can be sold is if the State serves as a backstop to debt; the State has partially guaranteed the debt through lease agreements and Minimum Valuation Agreements for the two (2) university buildings it leases on the Research Campus; and Kannapolis' bond counsel plans to ask the State to secure the rest of the debt and has scheduled a meeting with the LGC (Local Government Commission) this Thursday. Mr. Day advised the County is obligated for half the TIF debt service and estimated the payment to be approximately $1.5 million annually. To pay this new debt will require a property tax rate increase (3~ cent) or a reduction in force of approximately twenty (20) employees. He advised the Board needs to inform Kannapolis of its intentions so that plans may be formulated. After a short discussion, Chairman White asked the County Manager to gather additional information on specific projects to the funded through the TIF. (M) RECESS UPON MOTION of Commissioner Carruth, seconded by Vice Chairman Poole and unanimously carried, the meeting recessed at 8.52 p.m. until 4 p.m. Friday, February 26, 2010 at Camp T. N. Spencer.