BC 2006 05 15 REGULAR - Laserfiche WebLink

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May ~5, 2006 - Regular Meeting Page 602 Development for an industrial incentive grant to construct a wind tunnel, which will be used commercially by such businesses as motorsportsjracing, car manufacturers, etc. The proposed location is on Ivey Cline Road in Concord and the estimated new investment is $40 Million. He reported 10 new research and development jobs are anticipated. Due to the technical nature of the equipment, he said the EDC Board of Directors had recommended a three-year incentive grant equivalent to 85 percent of the ad valorem taxes on the investment. Mr. Saunders reported the company will pay an estimated $737,257.50 in taxes and receive an incentive grant estimated at $626,668.88 during the three-year incentive grant. At 8:33 p.m., Chairman Carruth opened the public hearing on the Industrial Development Incentive Grant request for Haas CNC Racing/lvey cline Development. The Public Hearing Notice was published on May 4, 2006, in THE INDEPENDENT TRIBUNE. Marilyn Barnhardt of Wabash Lane, Concord, opposed the incentive grant request. She questioned the wages for the 10 proposed jobs and asked who will monitor the creation of those jobs. She said if Mr. Haas wants a wind tunnel, he and the racing community can afford to build one. She said she is tired of the taxpayers subsidizing rich businessmen. There was no one else present to address the Board, and Chairman Carruth closed the public hearing. Mr. Saunders responded to a variety of questions related to the grant request including: wages, other sites being considered for the project, issues of determining the difference between personal and real property, etc. He explained how the requested incentive grant at 85 percent differed from the Level 1 grant under the existing Incentive program. Chairman Carruth commented on the cost of building schools in Cabarrus County, reducing the tax base gap between commercial and residential, and the importance of tourism. UPON MOTION of Vice Chairman Juba, seconded by Commissioner Carpenter with Chairman Carruth, Vice Chairman Juba and Commissioners Carpenter and Freeman voting for and Commissioner Privette voting against, the Board approved a modification/exemption of the current Industrial Incentive Grant Program for the wind tunnel project by Hass CNC Racing/Ivey-Cline Development and authorized a three-year incentive grant equivalent to 85 percent of the ad valorem taxes on the total project investment of approximately $40 million; and authorized the County Manager and County Attorney to conclude the negotiations and execute the Agreement. Commissioner Privette commented on offering long-term corporate citizens an incentive grant in appreciation for the jobs they have created over the years. Reports (I-l) Contiguous Annexation of Coddle Creek Reservoir by the City of Kannapolis Chairman Carruth asked the Attorney to give a report at this time regarding the Kannapolis annexation issue that had been raised during the Informal Public Comments. Richard M. Koch, Acting County Attorney, reported he had talked with the Kannapolis City Attorney regarding the issue. He said City staff had gathered the requested information and sent it out to him last week by courier. However, the address was incorrect and he has not yet received the information. Mr. Koch said the package is to be delivered on Tuesday and he would provide a report to the Board at its next work session or earlier. (G-2) Resolution Supporting State Assumption of County Share of Medicaid North Carolina is the only state in the nation that requires counties to pay a share of all Medicaid services costs. Cabarrus County's share of Medicaid reimbursements has increased more than 66 percent in the last six years and exceeds $5.9 million. UPON Carpenter Resolution: MOTION of Commissioner and unanimously carried, Privette, seconded the Board adopted by Commissioner the following