BC 2006 05 01 WORK SESSION - Laserfiche WebLink

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May 1, 2006 - Agenda Work Session Page 577 The Board of Commissioners for the County of Cabarrus met for an Agenda Work Session in the Multipurpose Room at the Cabarrus County Governmental Center in Concord, North Carolina on Monday, May 1, 2006, at 3:30 p.m. Present - Chairman: Robert Vice Chairman: Commissioners: W. Carruth Joni D. Juba Carolyn B. Carpenter Robert M. Freeman Coy C. Privette Also present were John County Attorney; Frankie F. Deputy Clerk to the Board. D. Day, Bonds, County Manager; Richard M. Koch, Acting Clerk to the Board; and Kay Honeycutt, Chairman Carruth called the meeting to order at 3:37 p.m. Economic Development John Cox of the Cabarrus Regional Partnership discussed the use of incentives to increase the County's tax base and revenues. He used a lock box to illustrate the County's treasury which he stated holds the tax receipts of senior citizens, working families and businesses. He demonstrated the process of how incentivizing a new business to locate in Cabarrus County puts more money in the lock box each year of the incentive grant. Mr. Cox explained the incentive grant process and pointed out the companies pay their tax bills each year prior to receiving the incentive grant. He said the use of incentives increases the tax base and is not like throwing money down a "rat hole". Mr. Cox stated the comments made at the April Board meeting concerning the incentive grant for Bonitz Contracting Company, Inc., were unfair. He compared the tax value of $304,000.00 for the vacant parcel of property with the current value of $3.2 million for the Bonitz property and facility. Industrial Development Incentive Grant - Wind Tunnel Project Clay Andrews, Recruiter with the Cabarrus Economic Development Corporation CEDC) , presented information on an incentive grant request by Haas CNC Racing to locate a new automotive research facility in Concord. He said the company plans to construct a wind tunnel that could be used commercially by a number of businesses including motorsports racing, car manufacturers, etc., and would be the only facility of its kind in the United States. He reported the proposed location is on a five-acre parcel at the end of the Concord Regional Airport runway at the corner of Ivey Cline Road and Poplar Tent Road. The company is now in negotiations with the City of Concord to acquire the site which will require approval by the Federal Aviation Administration along with an estimated $4.5 million in utility improvements to the Concord electrical system. Mr. Andrews said the company also looked at sites in Lincoln County and South Carolina for the project. The investment is estimated at $40 million and 10 jobs will be created. Stating it would be difficult to determine the difference between real and personal property, Mr. Andrews asked the Board to look at the project under the auspices of a previously proposed new incentive policy and award an incentive grant at 85 percent for a three-year period. He asked the Board to schedule a public hearing on May 15 to consider the grant request. UPON MOTION of Commissioner Privette, seconded by Commissioner Carpenter and unanimously carried, the Board scheduled a public hearing to consider an incentive grant request for the wind tunnel project by Haas CNC Racing on May 15, 2006 at 6:30 p.m. Suspension of Rules Chairman Carruth reported there were four Motorsports-related Proclamations for consideration by the Board. He asked that the rules be suspended in order for the Board to adopt the proclamations at this time. UPON MOTION of Commissioner Privette, seconded by Commissioner Carpenter and unanimously carried, the Board voted to suspend the rules for Agenda work session in order to consider adoption of four Motorsports-related Proclamations. Motorsports Month in Cabarrus County - Proclamation UPON MOTION of Commissioner Carpenter and unanimously carried, Proclamation: Privette, seconded the Board adopted by Commissioner the following