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31 <br /> <br />ATTEST: <br />/S/ Frankie F. Bonds <br /> <br />Frankie F. Bonds <br />Clerk to the Board <br /> <br />Proposed Addendum to the Commercial/Retail Development Incentive Grant Program <br />Relative to Hotel/Conference Center Developments - Public Hearing - 6:30 P.M. <br /> <br /> Mr. Clifton reviewed the proposed Addendum to the Commercial/Retail <br />Development Incentive Grant Program relating to Hotel/Conference Center <br />Developments. The Addendum would involve a contractual agreement that would <br />provide for a financial incentive grant based upon th~ level of room revenues <br />and retail sales generated within the project for a period of up to five full <br />years. <br /> <br /> At 7:54 P.M., Chairman Casper opened the public hearing regarding the <br />proposed Addendum and asked if anyone wished to address the Board concerning <br />this proposal. The Notice of Public Hearing was published in THE INDEPENDENT <br />TRIBUNE on August 5, 1998, and THE CHARLOTTE OBSERVER (Cabarrus Neighbors) on <br />Thursday, August 6, 1998. <br /> <br /> Mr. Jim Hobbs, President of the North Carolina Hotel/Motel Association, <br />stated the local lodging owners/operators opposed an incentive package that <br />would involve the rebate of occupancy taxes back to individual projects. <br />Also, if a rebate or grant program is approved, Mr. Hobbs stated there should <br />be a requirement that a new project receiving a tax rebate will operate the <br />facility in such a manner it generates the maximum number of room nights for <br />the entire county. <br /> <br /> Mr. Greg Panos, owner of the Hampton Inn in Cabarrus County and the <br />planned new Hampton Inn Suites, stated the hotel owners/operators recognize <br />the need for an exhibit hall/convention center in Cabarrus County and are <br />willing to support the project currently under consideration. However, he <br />expressed concern that the proposed Addendum is open ended and would encourage <br />other hotels to apply for the rebate/incentive, thus affecting the supply and <br />demand for hotels in the county. He asked that the Board make the proposed <br />Addendum site specific for the proposed project. <br /> <br /> Mr. Hartsell and Mr. Clifton explained that the proposed Addendum would <br />establish parameters for the hotel/conference center development incentive <br />program with each project to be dealt with on an individual basis. <br /> <br /> Mr. Clifton suggested that he, Mr. Shore and the speakers work together <br />to draft recommended changes to the proposed Addendum for consideration at the <br />next meeting. Commissioner Carpenter asked that the policy include a time <br />frame for review, and Commissioner Barnhart suggested the possibility of a <br />sunset clause. <br /> <br /> There was no one else to address the Board regarding the proposed <br />Addendum, and Chairman Casper closed the public hearing. <br /> <br /> UPON MOTION of Commissioner Mills, seconded by Commissioner Barnhart and <br />unanimously carried, the Board deferred the proposed Addendum to the <br />Commercial/Retail Development Incentive Grant Program relative to <br />hotel/conference center developments until the meeting on September 21, 1998 <br />and instructed staff, the Tourism Authority Board and the Vice-Chairman to <br />review and make recommendations for changes to the proposed Addendum. <br /> <br />Memorandum of Understanding Concerning a Commercial/Retail/Tourism Development <br />Incentive Grant for Marriott Conference Center, Speedway Motorsports, Inc. and <br />Landex, Inc. (the "Developer") Public Hearing 6:30 P.M. (To be held <br />jointly with a public hearing by the Tourism Authority Board.) <br /> <br /> Mr. Clifton reported there are potential changes to the Memorandum of <br />Understanding concerning the commercial/retail/tourism development incentive <br />grant for the Marriott Conference Center project. He suggested that the Board <br />postpone the public hearing until the September meeting. <br /> <br /> UPON MOTION of Commissioner Mills, seconded by Commissioner Carpenter <br />and unanimously carried, the Board deferred the public hearing on the <br />Memorandum of Understanding concerning a commercial/retail/tourism development <br />incentive grant for Marriott Conference Center, Speedway Motorsports, Inc. and <br />Landex, Inc. (the "developer") until the September meeting. <br /> <br />Financing for the Tourism Authority Board to Purchase Land for a Public <br />Exhibition/Civic Center <br /> <br /> <br />