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87 The Board of Commissioners for the County of Cabarrus met in recessed session in the Multipurpose Room at the Cabarrus County Governmental Center .in Concord, North Carolina, on Thursday, May 3, 2001, at 6:30 p.m. Present - Chairman: Arne L. Fennel Vice Chairman: Robert W. Carruth Commissioners: Robert M. Freeman Coy C. Privette Richard D. Suggs Also present were Mr. Frank W. Clifton, Jr., County Manager; Mr. John D. Day, Deputy County Manager for Operations; Mr. Don C. Cummings, Human Resources Director; Ms. Cathie K. Straub, Budget Officer; and Mrs. Frankie F. Bonds, Clerk to the Board. Chairman Fennel was absent for the beginning of the meeting. Vice Chairman Carruth called the meeting to order at 6:35 p.m. Work Session Schedule Mr. Clifton proposed that the Board cancel the budget work sessions scheduled on May 15, 24 and 29. The Board by consensus agreed to cancel those meetings. Final action will be taken after the arrival of Chairman Fennel. Groundbreakin~ - Ex~osltion Center Mr. Clifton suggested the Board hold the groundbreaking ceremony for the Exposition Center on Monday, June 25. There was general agreement with the proposed date. Economic Development Corporation Mr. Clifton gave a brief overview of the Economic Development Corporation (EDC) and its funding by Cabarrus County. He said he was recommending an appropriation for FY 2002 of $388,835.00, which is the same amount as the FY 2001 appropriation. Mr. Clifton pointed out the EDC generally spends $40,000.00 less each year than is budgeted and that money is returned to the County's General Fund. Mr. Keith Wayne, Chairman of the EDC Board, outlined EDC's mission to target and recruit new businesses and to support existing businesses in Cabarrus County. He introduced the following EDC Board members who were present for the meeting: Larry Hinsdale, Tom Dayvault, Bill Cagle, Bob Misenheimer, Mike Nash, Ron Wilson, Jim Pilon and A1 Thigpen. Chairman Fennel arrived at 6:48 p.m. and presided over the remainder of the meeting. Mr. Wayne discussed EDC's FY 2002 budget request of $643,249.00 (an increase of $254,414.00 over the FY 2001 budget) and the economic strategic planning study recently completed by Lockwood Greene Consulting for the EDC. He stated the additional allocation would be used to fund a $17,914.00 increase in EDC operating costs and to fund the following recommendations from the Lockwood Greene Study: Internal Marketing and Existing Business Feasibility Study/Private Sector Involvement Target Industry and External Marketing $ 44,000.00 30,000.00 162,500.00 Mr. Wayne described the County's funding of EDC as an investment and commented on the return on that investment over the last six years, including taxes, expansion of jobs, marketing, etc. He indicated the County and the cities have a direct line benefit from economic development while the private sector does not. Also, Mr. Wayne discussed jobs of the future and stressed the importance of attracting technology industries to Cabarrus County. Mr. Larry Hinsdale, CEO at Northeast Medical Center and Chairman-elect of the EDC Board, discussed the relationship between the Lockwood Greene study and the Envision Cabarrus strategic planning process to be facilitated by Henry Luke. He stated the Lockwood Greene study provides information that will assist with the Envision Cabarrus strategic planning process. Mr. Clifton commented on the direct benefit of economic development to local corporations. He stated the County currently provides total funding for EDC and outlined the need for the private sector to participate in that funding. There was lengthy discussion regarding the operation of the EDC, including the role of the Chamber of Commerce in economic development' activities, the structure of the EDC Board, the payment of incentive grants for new and expanding businesses, funding sources for EDC and the need to establish a public/private partnership to provide funding for EDC. Mr. Maurice Ewing, President of the EDC, briefly discussed marketing activities by the EDC.