BC 2008 08 04 Work Session - Laserfiche WebLink

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August 4, 2008 (Work Session) Page 916 there is not significant justification for the appropriation of additional money to provide services in this area beyond what is already available. A discussion ensued. Issues addressed included the following: this location is accessible to residents in southern Cabarrus County, not just Midland; the County's practice as it relates to new libraries; maintaining the buildings while fundraising activities are ongoing will be expensive; return on investment; a desire to see more oomph from Midland; the feasibility study showed the 1926 building is worth saving; lack of upkeep of the building; the property's proximity to I-985; the need for services in southern Cabarrus county; Midland's lack of resources; etc. UPON MOTION of Commissioner Carruth, seconded by Vice Chairman Juba and unanimously carried, the Board voted to place discussion related to the Old Bethel School property on the August 18, 2008 Agenda as a New Business item. PreGel America - Industrial Development Incentive Grant - Regueat forPublic Hearing John Cox with the Economic Development Corporation (EDC) introduced Anna Lu Wilson, EDC Senior Executive. Ms. Wilson requested a public hearing be scheduled to consider an Industrial Development Incentive Grant for PreGel America. She said the company plans to expand its facilities and directed the Board's attention to the materials provided in the agenda packet. UPON MOTION of Vice Chairman Juba, seconded by Commissioner Carruth and unanimously carried, the Board voted to place PreGel America - Industrial Development Incentive Grant request on the August 18, 2008 Agenda as a New Business item and scheduled a public hearing for 6:30 p.m. Ratifiaation of Tourism Authority's New Hvlawa DeSales Waqster, Director of the Convention and Visitors Bureau (CVB), presented a request for ratification of the Tourism Authority's new bylaws that were adopted by the Tourism Authority at its July 22, 2008 meeting. Richard Koch, County Attorney, commented on the bylaws as they relate to the application of Chapter 55-A of the N. C. General Statues. VPON MOTION of Commissioner Carruth, seconded by Vice Chairman Juba and unanimously carried, the Board voted to place Ratification of the Tourism Authority's New Bylaws on the August 18, 2008 Agenda as a Consent item. Tourism Authority - Draft Reserve Poliay and Contract DeSales Wagster, Director of the Convention and Visitors Bureau (CVB), presented information related to the development 'of the following Reserve Policy for the Tourism Authority: RESERVE POLICY: As provided in Session Law 1969-658, Section 2(c), "At the end of each fiscal year, any funds of the Authority not expended, obligated, or reserved, as approved by the County, shall be remitted to Cabarrus County for its use." For purposes of avoiding cash-flow interruptions, to generate interest income and to sustain operations during unanticipated emergencies, a reserve equal to a minimum of 17~ of annual operating expenditures is recommended. Funds in reserve will only be used for those stated purposes. The Tourism Authority may request approval from the Board of Commissioners to use fund balance in excess of the 17$ reserve for any purpose consistent .with those found in SL 1989-658 Section 1(e), specifically "to develop or promote tourism, tourist-related support services and facilities, tourist-related events, tourist-related activities, or tourist attractions." She responded to a variety of questions from the Board. The following issues were addressed: the Tourism Authority will maintain a 17 percent reserve; the Board of Commissioners has the final authority on all Tourism Authority funds; these funds are sufficient and the amount is close to what the Board of Directors already approved.