BC 2006 12 18 REGULAR - Laserfiche WebLink

Home Browse Search

December 18, 2006 (Regular Meeting) Decrease Revised Budget $40,000.00 $50,000.00 Vice Chairman Juba made a MOTION to approve the $90,000.00 funding request from Kannapolis City Schools for a land option, soil tests and environmental studies and to adopt the following budget amendment: BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF FINANCE AMOUNT: $40,000.00 TYPE OF ADJUSTMENT: Transfer Between Departments/Funds PURPOSE OF REQUEST: Transfer to provide funds for a land option, soil tests and environmental studies for Kannapolis City Schools. Present Account No. Approved Budget Increase 00191910-9659 Unemployment 00191960-9708 Contribution 369600006902 Contribution 369979109801 Land Acquisi $90,000.00 Insurance $11,638,219.00 $90,000.00 to Capital Projects Fund $90,000.00 from General Fund $40,000.00 :ion - Kannapolis City Commissioner Prlvette seconded the motion. Page 210 $11,878,214.00 $90,000.00 $90,000.00 There was discussion on the lack of an appraisal and possibly losing the $90,000.00. Rich Koch, County Attorney, responded to a variety of questions. The MOTION unanimously carried. (G-1) Industrial Development Incentive Grant - Oilea America Co oration - (PUblic Hearing - 6:30 p.m.) Jerry Saunders, Senior Executive with Cabarrus Economic Development Corporation, reported the Board unanimously approved an Industrial Development Incentive Grant for Oiles America Corporation in May of 2009. Originally, he said ,the equipment was to be delivered, installed and a certificate of occupancy issued by August of 2005 with Oiles receiving its incentive grant in 2006. However, due to problems with a supplier, he reported equipment valued at $1.2 million did not arrive until October 2006. He requested a technical adjustment to the Industrial Development Incentive Grant for Oiles America Corporation to extend its fulfillment period to January 1, 2007 through 2010. He further reported the investment was originally supposed to be $5,077,000.00; however, with the equipment installed, the investment is now $6.2 million. Also, he said Oiles has created approximately 37 new jobs instead of 20 as originally planned and approximately 90 percent of those hires are from Cabarrus County. In summary, he requested the Board allow Oiles to count the equipment that arrived late and to begin their incentives in 2007, through 2010. Mr. Saunders responded to questions concerning the use of local contractors and the Board's original vote on the incentive grant. Rich Koch, County Attorney, reminded the Board that this was an amendment to an old grant agreement and falls under the old policy. At B:09 p.m., ,Chairman Carruth opened the public hearing on the technical adjustment -to the Oiles America Industrial Development Incentive Grant. The Public Hearing Notice was published on December 6, 2006 in THE INDEPENDENT TRIBUNE and on December 7, 2006 in THE CHARLOTTE OBSERVER (Cabarrus Neighbors). There was no one present to address the Board; therefore, Chairman Carruth closed the public hearing. UPON MOTION by Commissioner Mynatt, seconded by Vice Chairman Juba and unanimously carried, the Board granted a technical adjustment to extend the fulfillment period to January 1, 2007 through 2010 of an Industrial Development Incentive 'Grant for Oiles America Corporation and authorized the County Manager and the County Attorney to execute the corresponding documents. ~G-2) CDHG Scattered Site Public Hearing