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April 17, 2006 - Regular Meeting Page 570 Work First Transitional/Employment Transportation Assistance Program 1. The purpose of these transportation funds is to support transitional transportation needs of Work First participants after eligibility for cash assistance has concluded and/other specified general public employment transportation needs. The funds may be transferred to the Elderly and Disabled Transportation Assistance Program or the Rural General Public Program if not needed for Work First transportation. 2. The funds are limited to use by the designated local entity(s) specified in the ROAP application, or any revisions or amendments thereto. Rural General Public Program 1. The funds will be used in a manner consistent with the Rural General Public Transportation Project Description. 2. The funds will not be used to provide human service agency's trips. WITNESS my hand and official seal, this 17th day of April, 2006. Attest: /s/ Frankie F. Bonds Frankie F. Bonds, Clerk to the Board /s/ Robert W. Carruth Board of County Commissioners Chairperson State of North Carolina County of Cabarrus County /s/ John Day John Day, County Manager (G-2) Modification to the Industrial Development Incentive Grant - Bonitz Contracting Company, Inc. - Public Hearing - 6:30 p.m. Jerry Saunders, Senior Executive with Cabarrus Economic Development Corporation (EDC) , requested a modification to the incentive grant that was awarded to Bonitz Contracting Company, Inc., in 2004 under the small corporate headquarters grant program. He stated a waiver of the headquarters requirement should have been requested at that time because Bonitz did not intend to relocate its headquarters here from South Carolina. However, Mr. Saunders said the EDC had sent the incentive request to the Board without asking for the waiver. He stated that Bonitz opened a facility on Enterprise Drive in December 2005 and invested $3 million in real estate and $270,000.00 in equipment. The company employs 149 with an estimated annual payroll over $5 million this year. If the grant is awarded, Mr. Saunders stated the company would pay taxes of $78,661.69 over a four-year period and receive a 50 percent grant of $38,710.83. He stated the EDC Board had asked that the Board reconsider the incentive grant and approve a waiver. At 8:29 p.m., Chairman Carruth opened the public hearing to consider a modification to the industrial development incentive grant for Bonitz Contracting Company, Inc. The Public Hearing Notice was published on April 6, 2006 in THE INDEPENDENT TRIBUNE. Harold Smith of Kannapolis spoke in opposition to the request for a waiver and stated there was growing awareness of local citizens that tax incentives were a "sham." He said granting the waiver and awarding an incentive grant would be like throwing $38,710.83 down a "rat hole". Finally, he stated incentives were a part of the wasteful spending of the Board and urged the Board to decline the waiver request. There was no one else present to address the Board, and Chairman Carruth closed the public hearing. Mr. Saunders responded to questions by the Board regarding the small corporate headquarters grant requirements, the requested waiver and the lack of an incentive grant program for small businesses. Commissioner Privette referenced Grey LeRoy's book entitled The Great American Job Scam: Corporate Tax Dodging and the Myth of Job Creation. He commented on local companies that have not received incentive grants and the failure of Bonitz to move its corporate headquarters to the county. Mr. Saunders reiterated that Bonitz officials never stated the company's corporate headquarters would be moved to Cabarrus County. UPON MOTION of Vice Chairman Juba, seconded by Chairman Carruth with Chairman Carruth, Vice Chairman Juba and Commissioners Carpenter and Freeman voting for and Commissioner Privette voting against, the Board waived the requirement for a "Corporate Headquarters" under Section III of the Industrial Development Grant Program and approved a small corporate headquarters grant subject to the negotiation and execution of a definitive