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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br /> <br />NOTICE OF PUBLIC HEARING <br />March 21, 2022 6:30 p.m. <br /> <br /> <br />Public Hearing Notice <br /> <br />Notice is hereby given that the Cabarrus County Board of Commissioners will hold a public hearing <br />at 6:30 p.m. (or as soon thereafter as persons may be heard) on Monday, March 21, 2022, in the Board <br /> located on the second floor of the Cabarrus County Governmental <br />Center, 65 Church Street S, Concord, concerning entering into a public-private partnership with CK <br />Lakepointe Corporate Center (Childress Klein) pursuant to North Carolina General Statute 143- <br />128.1C. The partnership is to provide a senior center and library to the citizens in the western part of <br />the county. The terms of the Development Contract, which are available for review at the below <br />address, are as follows: <br /> <br />Location: Tax Parcel 46919188600000 <br />Square Footage: 40,000 <br />Initial Term: 20 years <br />Initial Rent: estimated $59,333 per month, $712,000 annually <br />Rent Escalation: increase by 10% every five years <br /> <br />Purchase Clause: during the initial term, upon written notice, the County can purchase the facility. <br />The purchase price shall be equal to the total rent payable for the twelve (12) month period <br />immediately preceding the transfer of the property divided by 0.06875 (representing a 6.875% <br />capitalization rate) <br /> <br />https://www.youtube.com/cabarruscounty and https://www.cabarruscounty.us/cabcotv or if you <br />wish to listen to the meeting, you may call in at 1-980-729-7942 pin 181 172 331# <br /> <br />The following options will be available for input during the public hearing: <br /> <br />1. In person at 65 Church Street BOC Meeting Chambers <br />2. Conference call number 1-980-729-7942 pin 181 172 331# <br />3. Email comments to publiccomment@cabarruscounty.us by 5 p.m. on Monday, March 21st to be <br />read at the meeting. <br /> <br />If reasonable accommodations are needed, please contact the ADA Coordinator at 704-920-2100 at <br />least 48 hours prior to the public hearing. <br /> <br />Lauren Linker, Clerk to the Board <br /> <br />Posted March 9, 2022 <br /> <br />