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April 16, 2007 (Regular Meeting) Page 335 (E-3) Establishment of a Policy Dealing with Revenues Generated bV the Kannapolis TIF District Chairman Carruth reported the NCRC project list will be released at the meeting on April 23, 2007 in Kannapolis and encouraged Board members to attend. For the Board's review and consideration, he distributed a draft policy for dealing with any excess revenues generated by the Kannapolis TIF district. The policy allocated 70 percent of excess revenues for school construction, 15 percent for road construction projects, 5 percent for the purchase of public safety equipment (i.g. fire trucks), 5 percent for the purchase of land £or parks and the remaining 5 percent would be used for other capital projects. There was a brief discussion on the $900 million needed for school construction and other school related needs. No action was taken on this item. At the request of the Clerk, the Board recognized Richard Simone, a resident of 11301 Olde Cedar Court, Davidson, who had signed up to speak under Old Business Item E-2, but was not recognized. Mr. Simone asked where all the revenues will come from since state universities do not pay taxes. He also told a story about the demise of the oldest division of General Motors, 25 years after the City of Bristol spent millions on running infrastructure to the plant. He encouraged the Board to take their time, look carefully and make sensible decisions. Bulene Morgan, resident of 308 Knollwood Drive, Kannapolis, and an employee of David Murdock, stated the integrity of Kannapolis citizens has been challenged at this meeting and that the universities would not be involved in the project if they did not believe in the project and think it is a sound investment. (F) CONSENT AGENDA (F-1) Workers' Compensation Insurance for the EMS Medical Director _ Cabarrus County's EMS Department is required to have a Medical Director for oversight of the EMS Program pursuant to l0A NCRC 13P.0901. The County's practice has been to pay the Director on contract versus as an employee. The County has been approached to cover the Medical Director under workers' compensation while he is performing his duties for the County. The County's practice is tc only cover employees of the County under workers' compensation. The request of the Board is to establish a 9103 part time- position to accomplish this objective. The amount paid for this service is $12,000 annually which will have an approximate increase in cost annually of $918 due to paying the County's portion of Social Security and Medicare at a rate-of 7.65 percent. UPON MOTION of Commissioner Privette, seconded by~Commissioner White and unanimouslycarried, the Board established a 9103 position (part-time employee with no benefits) to enable the County to cover the Medical Director under the County's workers' compensation policy. (F-2) Budget Amendment - Certificates of Participation Series 2003 (Pitts Elem Bethel Elem Kannapolis Middle, Shady Brook Elem, and Fred L. Wilson Elem.) - $642,953.00 UPON MOTION of Commissioner Privette, seconded by Commissioner White and unanimously carried, the Board adopted the following budget amendment: BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF FINANCE/CERTIFICATES OF PARTICIPATION AMOUNT: $642,953.00 TYPE OE ADJUSTMENT: SUPPLEMENTAL REQUEST PURPOSE OF REQUEST: Zn accordance with Section 3.12 of COPS Series 2003 Indenture, all excess funds of this COPS issue can only be "applied to the future Installment Payments coming due under the contract." The COPS Series 2003 were issued for the acquisition, construction and renovation or equipping for: Pitts Elem, Bethel Elem, Kannapolis Middle, Shady Brook Elem, and Fred L. Wilson Elem. All of the cost of acquisition and construction has been determined and paid on this Project. This amendment will adjust several line items so that all excess funds can be transferred for repayment of debt. Present Account No. Approved Budget Increase Decrease Revised Budget