BC 2009 12 07 Work Session - Laserfiche WebLink

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December 7, 2009 (Work Session) Page 1704 A discussion ensued on how the County can hold the company accountable to its obligation to repay the County. Commissioner Carruth commented on the company's new concept and potential for creating a lot of jobs in the future. Chairman White advised further information is needed, such as the equipment's life expectancy and depreciation schedule so the County can get a better understanding how to protect taxpayers. He mentioned the need to create jobs and how the County would benefit from the 16 new jobs. Further discussions ensued regarding how the County can be protected contractually. Richard Koch, County Attorney, provided information on the clawback provision and the terms of the draft agreement. He stated there are not many options in regards to personal property in terms of securing the County's position. He noted the County can obtain a lien on the personal property; however, if the company finances through a vendor, the vendor will most likely have a lien on the equipment. As such, the County's lien would be secondary and not of much value. loan. Commissioner Carruth commented the grant sounds like an interest-free Commissioner Poole commented on similar grant requests awarded in the past and pointed out this request is based on the current policy. She suggested the Board not entertain any other exclusive personal property requests until the policy can be reviewed, which could be done at the retreat in February. She noted the need to specifically address the issue of personal property versus real property and for the policy to reflect the County's expectations. Chairman White stated the Board needs to discuss the situation and highlight the areas of concern so staff can further investigate those topics. He noted topics that need to be discussed are: what is the payback, the life expectancy of the personal property item and the value of the equipment after depreciation. A discussion ensued in regards to giving consideration to the company because the grant process has already begun and to apply the rules previously used for Flyright to evaluate the process. It was suggested, again, that the Board not make any rulings on exclusive personal property until the Board meets in February and decides on the rules for personal property. Vice Chairman Mynatt questioned the effect of lowering the grant percentage rate to 75 percent and a general discussion ensued. Commissioner Privette stated his preference to address the issue at the February retreat. No further action was required on this item. EDC - Incentive Grant Request for SBM Solar, Inc. and Public Hearing - 6:30 P.M. (Tabled from November) John Cox and Anna Lu Wilson, of the Cabarrus Economic Development Corporation (EDC), announced there is no additional information to present to the Board. Chairman White advised he was informed by one of his partners that his law firm represented the owner of SBM Solar, Inc. on an unrelated legal matter. As such, he stated his intent to recuse himself from the vote at the regular meeting. UPON MOTION of Commissioner Poole, seconded by Commissioner Carruth and unanimously carried, the Board voted to place the Incentive Grant Request for SBM Solar, Inc. on the December 21, 2009 Agenda as a New Business item. By the same vote, the Board scheduled a public hearing for 6:30 p.m. Finance - Cabarrus County School Board Contingency Request for Harold E. Winkler Middle School - $250,000.00 Len Witke, Cabarrus County Schools Director of Construction, requested a $250,000 transfer of contingency funds for removal of unforeseen rock formations and advised that all contingency funds for the project have been depleted.