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October 20, 2003 Page 259 Cabarrus County Hotel and Conference Center Incentive Grant Program I. OVERVIEW Cabarrus County has lagged behind Charlotte and Mecklenburg County in the development of hotel/conference facilities and in local per capita accommodations tax and sales tax revenues. Part of that pattern can be attributed to the development of hotel/conference facilities and associated development in the center of the metro region, but not in surrounding counties and cities. Construction of the 1-485 outerbelt augmenting other major highways in the rapidly growing regional corridor that includes Cabarrus County now makes hotel/conference center development feasible outside the metro center. Such development is a stimulus for additional supportive commercial, office and retail businesses. Hotel with conference facilities are a resource for local and regional businesses. Such developments are the basis for entering the meeting and conference market as an expansion of local economic development and tax base. The feasibility and basic attributes of a convention center have been established through the study conducted for the City of Concord. Much of the demand for such facilities is being absorbed by development in Charlotte and Mecklenburg County. Therefore, it is the intention of the Cabarrus County Board of Commissioners to establish a policy that will encourage developers of full service hotels with conference facilities to consider sites within Cabarrus County for future projects. II. PROGRAM PARAMETERS The Hotel/Conference Center Development Incentive Grant Program involves a contractual agreement between the County a~d a new, or existing business enterprise. The contractual agreement will provide for a financial incentive grant based upon the level of room revenues and retail sales generated within the project for a period of up to five full years. The County will agree to provide a financial inducement to the developer of hotel/conference projects that meet the criteria established within the guidelines of the H/CCDI Grant Program. Each project will be considered on an individual basis using guidelines established under the direction of the Board of Commissioners. The guidelines for this program will be subject to periodic review at least annually after its adoption or sooner at the direction of the Board of County Commissioners. Changing economic conditions may cause the County to modify, amend or even terminate the program subject to compliance with any hotel/conference development incentive grants in effect at that time. Items for consideration in authorizing a hotel/conference center development incentive grant may include but not be limited to: · A guarantee of cooperation in providing conference related overflow room reservation information to Cabarrus hotel/motel operators during the period the grant is in place. Details to be arranged and monitored by the Cabarrus County Tourism Authority; · The size of the project based upon investment in site development, facilities and infrastructure; · The quantity and quality of employment opportunities created by the project; · The size, nature and mix of meeting/conference spaces and support facilities; · The potential stimulus the project creates for additional commercial, office and retail development to occur within the immediate area; · The potential stimulus the project creates for maximizing non-resident expenditures by visitors Cabarrus County that will benefit the public and private economies; · Site specific issues that impact upon local infrastructure responsibilities; · Any other relevant issues. III. PROJECT QUALIFICATIONS To be considered eligible for a H/CCDI Grant, a project shall be required to meet certain minimum criteria. These criteria are to be used as guidelines in project evaluations. Additional criteria may be applied to a specific project based upon the terms of the agreement between the hotel/conference center developer and the County. · Minimum size of the project to qualify for consideration: Level I H/CCDI Grant projects shall include a minimum of 100 rooms in a full service hotel and a conference center with a minimum of 20,000 square feet of dedicated meeting space and a main ballroom of 12,500 square feet or more. Level II H/CCDI Grant projects shall include a minimum of 250 rooms in a full service hotel and a conference center with a minimum of 40,000 square feet of dedicated meeting space and a main ballroom of 25,000 square feet or more.