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March 10, 2008 (Work Session) <br />Page 737 <br />The Board of Commissioners for the County of Cabarrus met for an Agenda <br />Work Session Meeting in the Multipurpose Room at the Cabarrus County <br />Governmental Center in Concord, North Carolina on Monday, March 10, 2008, at <br />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 John Day, County Manager; Richard M. Koch, County <br />Attorney; Mike Downs, Deputy County Manager; Pam Dubois, Deputy County <br />Manager; Kay Honeycutt, Clerk to the Board and Lori Hinson, Deputy Clerk to <br />the Board. <br />Call to Order <br />Following the conclusion of the March lOr" recessed meeting, Chairman <br />White called the agenda work session to order at 9:03 p.m. <br />Update on Hoard Retreat and Legislative Agenda <br />Chairman White thanked Board members for attending the Retreat held <br />Friday and Saturday, March 7 and 8, 2008 at the Governmental Center. He <br />reported countywide goals and outcomes as well as a Legislative Agenda were <br />developed at the retreat. He further commented on the Board's decision not <br />to include House Bill No. 1790, which gives school boards authority to levy <br />taxes and assume all county responsibilities for school funding, on the <br />Legislative Agenda because of the good working relationship that exists <br />between the County Commissioners and Boards of Education. <br />m. <br />Incentive Grant Request - Fly Right Inc. - <br />Ryan McDaniels, with the Cabarrus Economic Development Corp., <br />introduced Patrick Zimmer, President of Development Advisors Inc., who is <br />helping Fly Right, Inc. locate a suitable facility in Cabarrus County. Mr. <br />McDaniels requested a public hearing be scheduled for March 24, 2008 to <br />consider an Industrial Development Incentive Grant for Fly Right, Inc. <br />(Phases I and II). For both phases, he reported a total of18 £ull-time jobs <br />with an average wage of $29/hour will be created and include a total project <br />investment of $12 million. The grant analysis £or Phase I and II is as <br />follows: <br />Phase I Year 1 Year 2 Year 3 Year 9 <br />Total Assessed Value $9,000,000.00 $9,000,000.00 $9,000,000.00 59,000,000.00 <br />County Taxes at .63 $25,200.00 525,200.00 $25,200.00 $25,200.00 <br />Incentive @ 858 $21,920.00 $21,920.00 $21,920.00 <br />Net Taxes to County $3,780.00 $3,780.00 $3,780.00 $25,200.00 <br /> 3 Year Taxes $75,600.00 <br /> 3 Year <br />Incentive <br />$69,260.00 <br /> 3 Year Net <br />Revenue <br />$11,390.00 <br />Phase II Year 1 Year 2 Year 3 Year 9 <br />Total Assessed Value $8,000,000 .00 $8,000,000.00 $8,000,000.00 $8,000,000. 00 <br />County Taxes at .63 550,900 .00 $50,900.00 550,900.00 $50,900. 00 <br />Incentive @ 858 $92,890 .00 $92,890.00 $92,890.00 <br />Net Taxes to County $7,560 .00 $7,560.00 $7,560.00 550,900. 00 <br /> 3 Year Taxes $151,200. 00 <br /> 3 Year <br />Incentive <br />$128,520. <br />00 <br /> 3 Year Net <br />Revenue <br />$22,680. <br />00 <br />In response to questions from the Board related to an eight-year <br />clawbackprovision, John D. Day, County Manager, commented on the need for <br />the provision since the company's primary investment is a flight simulator <br />which is mobile and classified as business personal property. <br />