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May 21, 2007 (Regular Meeting) Page 362 your constituency. I encourage you to weigh this project and the proposed financing tool carefully, bearing in mind the significant impact that the private development could have on the community and the state. I wish you the best in your deliberations and have every confidence you will reach the right decision for the citizens of Cabarrus County. Sincerely, James T. Fain III, Secretary North Carolina Department of Commerce May 21, 2007 Mr. Robert Carruth Chairman of the Board Cabarrus County Board of Commissioners P.O. Box 707 Concord, NC 28026-0707 Dear Chairman Carruth: The Cabarrus Regional Chamber of Commerce endorsed and worked for the approval of Amendment One, as adopted by the voters of North Carolina in November of 2009. We believe this economic development tool helps level the playing field as we compete with other states for significant projects such as the North Carolina Research Campus. In 2005 the Board of the Cabarrus Regional Chamber of Commerce adopted a Resolution supporting the passage of TIF funding, asking the County and the City of Kannapolis to work together to provide the specific agreements needed to move the project forward. In 2006 we endorsed the project via Resolution again. And now, by way of letter, we are indicating to you our support, encouragement and desire that this Board will enter into an agreement with Kannapolis that will create the $168 plus million dollar tax increment financing inter-local that will allow for the full build out of the NCRC. If it is true that the citizens of Cabarrus County are not liable for the debt, and if its true that the bonds do not negatively impact the county's bond rating, and if it is true that Castle and Cooke have agreed to a minimum tax assessment agreement which will repay the bonds, and if its true that the county will realize excess funds returned to the county over the life of these bonds, and if its true that higher paying jobs are already coming as one result of this project, and if its true that new capital investment will be attracted like a magnet attracts metal, and if its true that the project could be built as a not- for-profit venture thus providing little to no tax benefit to the. citizens of Cabarrus County, and if its true that we have hundreds of millions of dollars in capital outlay costs for schools whether of not this project is built out, and if its true this project will bring greater revenues, resources and opportunities to the children, teachers, schools and citizens of Cabarrus County then we implore you to find a way to vote for this project as Kannapolis has asked you to vote and as my Board has encouraged you to vote tonight. Sincerely, John S. Cox Cabarrus Regional Chamber of Commerce May 18, 2007 Chairman Robert Carruth Vice-Chairman Joni Juba Commissioner Grace Mynatt Commissioner Coy Privette Commissioner Jay White Cabarrus County Board of Commissioners 65 Church Street, SE Concord, NC 28026-0707