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January 16, 2018 (Regular Meeting) Page 3423
<br />UPON MOTION by Vice Chairman Honeycutt, seconded by Commissioner Shue and
<br />unanimously carried, the Board approved the December 2017 Refund and Release
<br />Reports as submitted, including the NCVTS Refund Report, and granted authority
<br />to the Tax Collector to process the refunds and releases. The report is hereby
<br />incorporated into the minutes by reference and is on file with the Clerk to the
<br />Board.
<br />(G) NEW BUSINESS
<br />(G-1) Economic Development Investment - Project M - Public Hearing 6:30 p.m.
<br />LeeAnn Nixon, Cabarrus Economic Development Corporation (EDC), Existing
<br />Industry Project Manager presented a request for an economic development
<br />investment for Project M/Johnson Concrete Products, Inc. Project M proposes the
<br />potential expansion of an existing manufacturing process in Concord located at
<br />104 Old Davidson Place, NW in Concord. The company is considering doubling their
<br />building size and capacity in Concord creating 6-12 positions over three years
<br />and an investment of $1.5 million in real ($700,000) and personal property
<br />($800,000). A three-year grant equivalent to 85 percent of the ad valorem taxes
<br />on the increase in real and personal property tax values is requested. A public
<br />hearing is required. Ms. Nixon also responded to questions from the Board.
<br />Cabarrus County Economic Development Grant Analysis - Project M
<br />Chairman Morris opened the public hearing at 6:48 p.m. The public hearing
<br />notice was posted on the County's website (www.cabarruscounty.us) on January 4,
<br />2018 in accordance with Article 2, Administration, Section 2.1 (Use of
<br />Electronic Means to Provide Public Notices) of the Cabarrus County Code of
<br />Ordinances.
<br />There was no one present to address the Board; therefore, Chairman Morris
<br />closed the public hearing.
<br />A brief discussion ensued.
<br />Commissioner Shue MOVED to approve an economic development investment
<br />agreement (three-year, 85 percent) between Project M and Cabarrus County, and
<br />to authorize the County Manager to execute the agreement on behalf of the Board,
<br />subject to review or revision by the County Attorney. Vice Chairman Honeycutt
<br />seconded the motion.
<br />Following a brief discussion, the MOTION unanimously carried.
<br />Robert Carney, Jr., Cabarrus Economic Development Corporation (EDC),
<br />Executive Director was also in attendance.
<br />-2) City of Kannapolis - Downtown Kannapolis Request Summary and Update
<br />Mike Legg, Kannapolis City Manager presented a PowerPoint presentation
<br />regarding the Downtown Kannapolis revitalization. The PowerPoint presentation
<br />titled "Kannapolis Downtown Revitalization Update" included the following
<br />topics:
<br />• Milestones to Date
<br />• Renderings of the projected scope of work
<br />• Demonstration Project
<br />o Development Partner
<br />o Number of City Blocks
<br />o Number of Acres
<br />o Building Use
<br />o Ownership
<br />• Infrastructure/Linear Park/Streetscape
<br />• Sports 6 Entertainment Venue
<br />• Minor League Baseball Market Analysis
<br />• Upcoming Schedule
<br />Year 1
<br />Year 2
<br />Year 3
<br />Total
<br />Assessed Value
<br />$1,500,000.00
<br />$115001000.00
<br />$1,500,000.00
<br />Count
<br />Taxes at .70
<br />$10,500.00
<br />$10,500.00
<br />$10,500.00
<br />Grant
<br />@ 85%
<br />$0,925.00
<br />$8,925.00
<br />$8,925.00
<br />Net Taxes to County
<br />$1,575.00
<br />$1,575.00
<br />$1,575.00
<br />3
<br />3 Year Taxes
<br />3 Year Grant
<br />Year Net Revenue
<br />$31,500.00
<br />$26,775.00
<br />$4,725.00
<br />Chairman Morris opened the public hearing at 6:48 p.m. The public hearing
<br />notice was posted on the County's website (www.cabarruscounty.us) on January 4,
<br />2018 in accordance with Article 2, Administration, Section 2.1 (Use of
<br />Electronic Means to Provide Public Notices) of the Cabarrus County Code of
<br />Ordinances.
<br />There was no one present to address the Board; therefore, Chairman Morris
<br />closed the public hearing.
<br />A brief discussion ensued.
<br />Commissioner Shue MOVED to approve an economic development investment
<br />agreement (three-year, 85 percent) between Project M and Cabarrus County, and
<br />to authorize the County Manager to execute the agreement on behalf of the Board,
<br />subject to review or revision by the County Attorney. Vice Chairman Honeycutt
<br />seconded the motion.
<br />Following a brief discussion, the MOTION unanimously carried.
<br />Robert Carney, Jr., Cabarrus Economic Development Corporation (EDC),
<br />Executive Director was also in attendance.
<br />-2) City of Kannapolis - Downtown Kannapolis Request Summary and Update
<br />Mike Legg, Kannapolis City Manager presented a PowerPoint presentation
<br />regarding the Downtown Kannapolis revitalization. The PowerPoint presentation
<br />titled "Kannapolis Downtown Revitalization Update" included the following
<br />topics:
<br />• Milestones to Date
<br />• Renderings of the projected scope of work
<br />• Demonstration Project
<br />o Development Partner
<br />o Number of City Blocks
<br />o Number of Acres
<br />o Building Use
<br />o Ownership
<br />• Infrastructure/Linear Park/Streetscape
<br />• Sports 6 Entertainment Venue
<br />• Minor League Baseball Market Analysis
<br />• Upcoming Schedule
<br />
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