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<br />June 14, 2005 (Recessed Meeting) <br /> <br />Page 234 <br /> <br />Other elements or considerations of the proposed program <br />discussed follow: <br /> <br />1. Required annual renewal. <br />2 . Determine whether tax payments are escrowed by a mortgage <br />company. <br />3. Limit applicability to owner occupied residence. <br />4. Grant may only apply to current year taxes I not past due <br />taxes. <br />5. If past balances exist, person must agree to and stay current <br />on a payment plan to qualify for grant. <br />6. Eligibility is limited to those with homes that have property <br />tax values of $150,000 or less. <br />7. Those eligible receive a voucher equal to a reduction in <br />their property tax values of $20,000, or 50% of the total <br />value, whichever is greater. <br />8. Grant vouchers are only valid with the payment of the balance <br />of the taxes due. <br /> <br />The committee also recommended reviewing the program after the <br />first year and to re-evaluate it. <br /> <br />Mr. Day <br />adoption <br />July. <br /> <br />suggested the Board may <br />of the program. However I <br /> <br />wish to wait until August to consider <br />he pointed out the tax bills go out in <br /> <br />UPON MOT'ION of Commissioner Privette, seconded by Chairman Carpenter <br />and unanimously carried, the Board adopted the Property Tax Assistance <br />Program as presented and set forth above. <br /> <br />Sale of the Fo~er First Union Building <br /> <br />John Day, County Manager, reported that an offer of $1,260,000.00 had <br />been received from Allen Craven LLC for the purchase of the former Cabarrus <br />Bank/First Union Building. He recommended that the Board accept the offer <br />and authorize staff to begin the upset bid process. <br /> <br />UPON MOTION of Commissioner Privette, seconded by Commissioner Freeman <br />and unanimously carried, the Board moved to accept the offer of $1,260,000.00 <br />as set forth in the Purchase and Sale Agreement submitted by Allen Craven LLC <br />for the purchase of the former Cabarrus Bank/First Union Building, subject to <br />the upset bid process; and authorized staff to begin the upset bid process. <br /> <br />Recess of Meeting <br /> <br />There being no further business to come before the Board, Chairman <br />Carpenter recessed the meeting at 9:10 p.m. until 8:30 a.m. on Thursday, June <br />16, 2005, in the Multipurpose Room at the Governmental Center. <br /> <br />J~ J..~ <br /> <br />Clerk to the Board <br />