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182 <br /> <br />County will underwrite the debt, and Cabarrus County and Kannapolis <br />will enter into appropriate agreements with Rowan County to provide <br />its share of the required debt service. <br /> 14. Cabarrus and Rowan Counties will take the necessary steps <br />to increase their tourism occupancy tax and create a debt retirement <br />reserve to pay for their respective remaining portions of the Sports <br />Complex initial indebtedness. When the debt has been retired, it is <br />Gabarrus County's intent that the occupancy tax will revert back to <br />the original 3%, unless extended by action of the then current board <br />of commissioners. <br /> 15. In order for incorporation, fund raising and lease <br />negotiations to begin immediately, each governmental unit will <br />commit to loan, if necessary, an initial sum of $25,000 for ninety <br />(90) days, with a ninety (90) day extension, upon approval of this <br />proposal to be utilized by the Commission for the: <br /> a. incorporation of the Sports Commission; <br /> b. negotiation of the operating lease with the team owner; <br /> c. negotiation of the construction of the facility with <br /> the selected contractor; <br /> d. supervision and oversight of the construction of the <br /> facility; and <br /> e. other tasks determined necessary by the Sports <br /> Commission. <br /> <br /> The motion by Commissioner Fennel to adopt the following resolution died <br />for a lack of a second. <br /> <br />Cabarrus County and Rowan County <br />Joint Resolution <br /> Regional Sports Complex <br /> <br /> Whereas, a Regional Sports Complex is recommended by the <br />Regional Sports Task Force to be constructed on a 75 acre tract at <br />the intersection of Lane Street and Interstate 85, and <br /> Whereas, this eight million dollar facility is designed to <br />have a professional stadium to host Class A professional baseball, <br />an adult softball complex, a youth baseball complex, a tennis <br />complex and two full size soccer fields, and <br /> Whereas, the Regional Sports Complex will provide low-cost <br />quality entertainment for the whole family and provide the <br />opportunity to host regional, state and national tournaments for <br />softball and youth baseball, and <br /> Whereas, recreation studies have repeatedly stated the <br />critical shortage of active recreation facilities for Kannapolis, <br />northern Cabarrus County and southern Rowan County, and <br /> Whereas, this facility will have a major economic impact on <br />the two-county region and will be a catalyst for new economic <br />development, and <br /> Whereas, the project will be a private-public partnership with <br />3.5 million dollars being raised by the private sector. <br /> Now Therefore Be It Resolved, that Cabarrus County and Rowan <br />County commit to the construction of a Regional Sports Complex to be <br />located on the county line between Moose Road in Rowan County and <br />Lane Street in Cabarrus County and along 1-85. <br /> Be It Further Resolved, that Gabarrus County and Rowan County <br />will each commit to debt retirement of $1.5 million over twenty <br />years to construct this facility. <br /> Be It Further Resolved, that the debt can only be repaid from <br />the Sports Complex site revenues, revenues from the baseball stadium <br />and each county's respective occupancy taxes. That no county <br />property taxes will be used in the construction or operation of the <br />complex. <br /> Be It Further Resolved, that is resolution is contingent upon <br />the following: <br /> 1. The balance of the funding ($5.0 million) being <br /> contributed by the City of Kannapolis and the private <br /> sector. <br /> 2. The successful negotiation by the Piedmont Sports <br /> Commission and ratification by the respective of Boards <br /> <br /> <br />