BC 1996 06 17 - Laserfiche WebLink

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118 Year 6 - property taxes paid - $570,000 with an IDI Grant of $480,250 Year 7 - property taxes paid ~ $570,000 IDI Grant ceases The IDI Grant would equal $2,401,250 at the current tax rate of $.565/$100. Effective annual property tax payments equal $5,000 year 1 and $89,750 in years 2-6. V. PROGRAM ADOPTION AND EFFECTIVE DATE These industrial development incentive grant program guidelines were endorsed by the Greater Cabarrus County Economic Development Corporation by its Board of Directors on June 11, 1996. Once approved by the Cabarrus County Board of Commissioners it is proposed that the effective date of implementation of the grant program guidelines will be for agreements related to new projects locating or existing industrial expansions occurring in the county (cities/towns) subject to agreements approved by the County Commission after July 1, 1996. Economic Development Demonstration Grant Prosram - Public Hearin~ - 7:00 P.M. Mr. Bob Stark presented information regarding a new Economic Development Demonstration Grant Program by the Department of Commerce to help people get off welfare using the Work First Program in coordination with economic development activities. He discussed a proposal to apply for funding involving a day care facility to be located in a new industrial park that plans to hire and train a number of parents receiving public assistance. As other businesses locate within the new park, the day care workers will be moved into better paying jobs and other single parents will be placed in the job openings at the day care center. Private funds will be used to construct and equip the day care center with grant funds to be used to install water, sewer and a street to the site. No county funding will be required for the proposed project. The Board received a letter from Mr. Jim Cook, Social Services Director, in support of the proposal to build a day care center at the Favoni Industrial Park. Mr. Clifton pointed out that Mr. Stark is not employed by the County as a consultant for the proposed day care project at the Favoni Industrial Park. At 7:40 P.M., Chairman Barnhart opened the public hearing regarding the proposal to apply for funding through the Innovative Economic Development Demonstration Grant program. There was no one present to address the Board; and having given adequate time for public comment, Chairman Barnhart closed the public hearing. UPON MOTION of Commissioner Fennel, seconded by Commissioner Niblock and unanimously carried, the Board agreed to submit a letter of intent by July 12, 1996 to submit an application to the North Carolina Department of Commerce for the Innovative Economic Development Demonstration Grant Program. Appointments - Board of Equalization and Review UPON MOTION of Commissioner Fennel, seconded by Commissioner Casper and unanimously carried, the Board appointed Mr. Ben Debiase to the Board of Equalization and Review to fill the position currently held by Mr. Charlie Sehorn. Further, the Board reappointed Mr. A. E. "Pete" Partridge, Jr. and Mr. Charles K. "Chip" Furr to the Board of Equalization and Review. All terms of appointments were for a period of three years beginning July 1, 1996 through June 30, 1999. The remaining two appointments were deferred to a later date. The Board paid special recognition to Mr. Sehorn who had served as a member of the Board of Equalization and Review since 1985. Appointment - Harrisbur~ Plannin8 and Zonin8 Board Extraterritorial Jurisdiction Member UPON MOTION of Commissioner Fennel, seconded by Commissioner Mills and unanimously carried, the Board reappointed Mr. Joe Howell to fill the position of the extraterritorial jurisdiction member of the Harrisburg Planning and Zoning board and alternate to the Board of Adjustment as recommended by the Harrisburg Town Council. The term of appointment was for a period of three years ending July 1, 1999.