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June 18, 2007 (Regular Meeting) Page 422 Residential 10" CABC or 5" B-25.0X 2.25" I-19.0X 2.0" SF 9.5X Minor Collector Non-Residential Residential 10" CABC or 5" B-25.0X 2.25" I-19.0X 2.0" SF 9.SX Local Street Non-Residential Residential 6" CABC or 9" B-25.0X 2.25" I-19.0X 2.0" SF 9.5X Alley All 8"CABC 2.0" SF 9.5X ravement cross sections must be designed on a case by case basis. Adopted this the 18`" day of June 2007, by the Cabarrus County Board of ' Commissioners. /s/: Robert W. Carruth Robert W. Carruth, Chairman Cabarrus County Board of Commissioners ATTEST: /s/: Kay Honeycutt Kay Honeycutt, Clerk to the Board (G-3) Industrial Development Incentive Grant - Great Wolf Reaorta, Inc. - Public Hearing - 6:30 p.m. John Cox, President and CEO, Economic Development Corporation, reported the particulars of the Industrial Development Incentive Grant request for Great Wolf Resorts, Inc., were presented to the Board at its pre-agenda meeting held on June 9, 2007. At 7:49 p.m. Chairman Carruth opened the public hearing on the Industrial Development Incentive Grant for Great Wolf Resorts, Inc. The Public Hearing Notice was published on June 7 and June 19, 2007 in THE INDEPENDENT TRIBUNE and on June 10 and June 19, 2007 in THE CHARLOTTE OBSERVER (Cabarrus Neighbors). Larry Marlowe, resident of 665 Odell School Road in Concord, was concerned about the additional traffic the project would create. He also ' expressed opposition to giving an incentive grant to Great Wolf Resorts, Inc., if the Resort is not something that can be enjoyed by the whole county. There was no one else present to address the Board; therefore, Chairman Carruth closed the public hearing. Mr. Cox responded to a variety of questions from the Board and explained how the water use and the occupancy of the resort will affect the area. He explained there is enough water capacity to serve this project and many meetings were held to thoroughly discuss the water situation with the City of Concord and WSACC (Water and Sewer Authority of Cabarrus County). He also used the illustration that it would take approximately 111 new homes with a value of at least $1 million each to realize the same amount of tax revenue that Great Wolf will generate; those same 111 homes would use more water than the resort; and those homes would generate additional students, thereby increasing the need for more schools and school buses. At the request of the Board, he also commented on how the resort recharges its water. There was a discussion on tourism and DeSales Wagster, with the Cabarrus Convention & Visitors Bureau, responded to questions on the occupancy tax. Commissioner White made a MOTION to authorize a 5-year incentive grant to Great Wolf Resorts, Inc. equivalent to 65 percent of the ad valorem taxes on the total project investment projected at $100 million and to further ' authorize the County Manager and County Attorney to conclude negotiations and execute the agreement. Vice Chairman Juba seconded the motion. Using Mr. Cox's previous illustration, Commissioner Privette pointed out the individuals living in the 111 homes would be paying property taxes that would help to build schools. He also reported the Embassy Suite Hotel & Convention Center did not receive any help from the County; read an editorial from "Business Today"; and shared several decisions by the U.S. Supreme Court on the issue of taking public money for private business.