|
January 7, 2008 (Work Session) Page 667
<br />The Board of Commissioners for the County o£ Cabarrus met £or an Agenda
<br />Work Session in the Multipurpose Room at the Cabarrus County Governmental
<br />Center in Concord, North Carolina on Monday, January 7, 2008, at 3:30 p.m.
<br />Present - Chairman: H. Jay White, Sr.
<br />Vice Chairman: Joni D. Juba
<br />Commissioners: Robert W. Carruth
<br />Grace M. Mynatt
<br />Coy C. Privette
<br />Also present were
<br />Attorney; Mike Downs,
<br />Manager; Kay Honeycutt,
<br />the Board.
<br />Call to Order
<br />John Day, County Manager; Richard M. Koch, County
<br />Deputy County Manager; Pam Dubois, Deputy County
<br />Clerk to the Board and Lori Hinson, Deputy Clerk to
<br />Following the conclusion of the recessed meeting, Chairman White called
<br />the agenda work session to order at 3:53 p.m.
<br />Fly Right, Inc. - Industrial Development Incentive Grant Requset
<br />Ryan McDaniels, with the Cabarrus Economic Development Corporation
<br />(EDC), requested a public hearing be scheduled on January 22, 2008 at 6:30
<br />p.m. for Fly Right, Inc., a flight simulator-based training provider. He
<br />reported Fly Right, Inc., a unique start-up venture, would be the only
<br />company of its kind between Florida and Washington, D.C.; the company is
<br />expected to invest approximately $4 million ($3.8 million - equipment;
<br />$200,000.00 - real estate) in Phase I and create approximately 10 full-time
<br />jobs with an average wage of $29.00 per hour. He pointed out the company
<br />plans to upfit an existing building near the airport, but has not finalized
<br />its lease agreement. (Phase II, which will be presented in the future,
<br />included an investment of $16 million and the creation of 18 new full-time
<br />jobs. Next, he reviewed the following grant analysis:
<br /> Year 1 Year 2 Year 3 Year 9
<br />Total Assessed Value $9,000,000. 00 $9,000,000 .00 59,000,000.00 $9,000,000. 00
<br />County Taxes at .63 525,200. 00 $25,200 .00 525,200.00 525,200. 00
<br />Incentive @ 858 521,920. 00 $21,920 .00 521,920.00
<br />Net Taxes to County 53,780. 00 53,780 .00 $3,780.00 $25,200. 00
<br /> 3 Year Taxes 575,600. 00
<br /> 3 Year
<br />Incentive
<br />$69,260.
<br />00
<br /> 3 Year Net
<br />Revenue
<br />511,390.
<br />00
<br />Mr. McDaniels and Clay Andrews, also with the Cabarrus EDC, responded
<br />to a variety of questions from the Board and a general discussion ensued.
<br />Issues addressed included the following: the endorsement of the grant
<br />request by the EDC's Board of Directors by a vote of 8 to 9; concerns
<br />addressed by the EDC Board: start up company, mobility of the simulator,
<br />setting precedents for incentives for projects related to the airport; how
<br />the incentives offered by Cabarrus County compare to the rest of the counties
<br />in the region; what happens to a company that receives an incentive grant but
<br />does not materialize; built-in protections to the incentive program; the
<br />number of employees to be hired by Fly Right, Inc., etc.
<br />UPON MOTION of Commissioner Mynatt, seconded by Commissioner Carruth
<br />and unanimously carried, the Board voted to place Industrial Development
<br />Incentive Grant Request for Fly Right, Inc., on the January 22, 2008 Agenda
<br />as a New Business item and scheduled a public hearing for 6:30 p.m.
<br />Commerce Department - Reservation of Capacity Certificate - Avignon
<br />Qnhrii vi vi nn
<br />Susie Morris, Planning and Zoning Manager, presented the following
<br />information on the Reservation of Capacity Certificate for the Avignon
<br />Subdivision: the applicant is Red Clay Development, LLC; the project consists
<br />of 29 single-family lots on approximately 50 acres; the project is located at
<br />the intersection of Trinity Church Road and Trinity Church Drive; and has a
<br />proposed build-out schedule of 29 lots platted in 2008. She reviewed the
<br />following information and pointed out there is planned capacity available for
<br />
|