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468 <br /> <br /> UPON MOTION of Commissioner Hamby, seconded by Chairman Lentz and <br />unantmouslycarried, the Board approved the following contract between Cabarrus <br />County and The Greater Cabarrus County Economic Development Corporation and <br />authorized Chairman Lentz to execute the contract on behalf of Cabarrus County. <br /> <br />NORTH CAROLINA <br /> <br />CABARRUS COUNTY <br /> <br />AGREEMENT <br /> <br /> THIS AGREEMENT made and entered into as of the 1st day of July, 1990 by <br />and between CABARRUS COUNTY, a corporate body politic, and subdivision of the <br />State of North Carolina, party of the first part, (hereinafter referred to as <br />County); and THE GREATER CABARRUS COUNTY ECONOMIC DEVELOPMENT CORPORATION, a <br />non-profit corporation organized and existing under the laws of the State of <br />North Carolina, party of the second part, (hereinafter referred to as Economic <br />Development Corporation); <br /> WITNESSETH : - <br /> THAT WHEREAS, County is authorized and empowered by the provisions of <br />Section 158-7.1(a) and Article 2 of Chapter 158 of the North Carolina General <br />Statutes to make appropriations for the purposes of aiding and encouraging the <br />location of manufacturing enterprises, making industrial surveys and locating <br />industrial and commercial plants in the County and otherwise to carry out a <br />program of economic development; and <br /> WHEREAS, the Greater Cabarrus County Economic Development Corporation is <br />a non-profit corporation organized and empowered to promote economic development <br />and expansion and new and improved employment opportunities beneficial to the <br />citizens of Cabarrus County through programs and efforts to foster industrial <br />and business growth; and <br /> WHEREAS, the Board of Commissioners of Cabarrus County recognizes the <br />necessity of industrial growth and diversification to the continued economic <br />health and vitality within Cabarrus County and its benefits to the citizens of <br />Cabarrus County; and <br /> WHEREAS, Cabarrus County has agreed to participate in the funding of the <br />economic development programs of the Economic Development Corporation and the <br />Economic Development Corporation has agreed to provide a program .of economic <br />development within Cabarrus County in accordance with the terms of this <br />agreement. <br /> NOW, THEREFORE, in consideration of the mutual covenants and conditions <br />herein contained and pursuant to the authority contained in the North Carolina <br />General Statutes, the parties do hereby contract and agree as follows: <br /> 1. The Economic Development Corporation agrees to pursue an economic <br />development program for Gabarrus County in which it shall: <br /> (a) Formulate projects for carrying out the economic development <br />program, through attraction of new industries, encouragement of existing <br />industries, encouragement of new business and industrial ventures by local as <br />well as foreign capital, and other activities of a similar nature; <br /> (b) Conduct industrial surveys as needed, advertise in periodicals <br />or other communications media, furnish advice and assistance to business and <br />industrial prospects which may locate in Cabarrus County, furnish advice and <br />assistance to existing businesses and industries, furnish advice and assistance <br />to persons seeking to establish new businesses or industries, and engage in <br />related activities; and <br /> (c) Encourage the formation of private business development <br />corporations or associations which may carry out such projects as securing and <br />preparing sites for industrial development, constructing industrial buildings, <br />or rendering financial or managerial .assistance to businesses and industries; <br />and furnish advice and assistance to such corporations or associations. <br /> 2. In furtherance of its economic development program, Economic <br />Development Corporation may employ full and part time staff including a manager <br />or economic developer, a secretary, and other personnel, purchase, rent, or <br />lease an office and furnish the same, and secure the services of accountants, <br />attorneys, consultants, and others. <br /> 3. The Economic Development Corporation is authorized to expend the funds <br />provided by Cabarrus County for any or all of the uses and purposes set forth <br />in the budget of the Economic Development Corporation which is attached to this <br />Agreement as Exhibit "A". <br /> 4. The County shall allocate and pay to Economic Development Corporation <br /> eleven (11) monthly payments of $5,480.41 each and one (1) monthly payment of <br /> $5,480.49, commencing July 1990, for a total of $65,765.00, with each payment <br /> to be made on or about the last day of each month. <br /> <br /> <br />