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May 27, 2010 (Recessed Meeting)
<br />The Board of Commissioners
<br />session for a budget workshop in
<br />Governmental Center in Concord,
<br />3:30 p.m.
<br />Page 1951
<br />for the County of Cabarrus met in recessed
<br />the Multipurpose Room at the Cabarrus County
<br />North Carolina on Thursday, May 27, 2010, at
<br />Present - Chairman:
<br />Vice Chairman:
<br />Commissioners:
<br />H. Jay White, Sr.
<br />Elizabeth Poole
<br />Robert W. Carruth
<br />Grace Mynatt
<br />Coy C. Privette
<br />Also present were John D. Day, County Manager; Mike Downs, Deputy
<br />County Manager; Pam Dubois, Deputy County Manager, Kalesha Kennedy, Budget
<br />and Performance Manager and Kay Honeycutt, Clerk to the Board.
<br />Call to Order
<br />Chairman White called the meeting to order at 3:39 p.m.
<br />Soil & Water Conservation District
<br />Ned Hudson, Secretary /Treasurer of the Soil and Water Conservation
<br />District (SWCD) and Commissioner Mynatt, presented a request to reinstate an
<br />administrative position recently eliminated during the RIF (reduction in
<br />force). Mr. Hudson reviewed the responsibilities associated with this
<br />position. Commissioner Mynatt, who serves as the liaison to the SWCD,
<br />proposed to use $43,000.00 of $700,000.00 COLA (Cost of Living Adjustment)
<br />funds included in the proposed budget to fund this position and stated her
<br />desire to rehire approximately 20 employees in lieu of giving COLA raises to
<br />all county employees.
<br />In response to questions from the Board, John Day, County Manager,
<br />reported the Soil & Water Conservation District Board was offered
<br />administrative support through the Commerce Department and through the
<br />Cooperative Extension Office, but declined.
<br />Tax Increment Financing (TIF) - Projected Debt Service Costs
<br />John Day, County Manager, addressed the issue of an escalating
<br />principal payment for the projected debt service payment for the Kannapolis
<br />TIF project (North Carolina Research Campus), as set forth below:
<br />Projected Debt Service C osts
<br />6!30/2[08
<br />E00121U9
<br />6;30!X10
<br />6 ;3012C11
<br />5 695,000
<br />5 1,446,850 S
<br />Z,141,2M
<br />6 ;30/2[12
<br />/90,UUO
<br />1,413,838
<br />C,2Uj,818
<br />6;30/1[13
<br />895,000
<br />1,3 /b,31S
<br />L,:I1,313
<br />b ;3U12C19
<br />:,UUS,000
<br />1,333,800
<br />2,338,800
<br />6 ;30(2[15
<br />:,120,000
<br />1,286,063
<br />2,406,063
<br />6 ;3012C16
<br />.,250,000
<br />1,232,863
<br />2,482,863
<br />6 ;3012C17
<br />.,380,000
<br />1,173,488
<br />2,553,488
<br />6 ;3U /2c18
<br />_,525,000
<br />1,107,938
<br />2,632,938
<br />6i30 /2[19
<br />:,675,000
<br />1,C35,500
<br />Z,710,500
<br />6i301ZC20
<br />:,835,000
<br />955 ,938
<br />2,
<br />6i3012C21
<br />:,0:0,000
<br />868,775
<br />2,878,775
<br />6i30!2CZ2
<br />1 1 190,000
<br />773,300
<br />2,963,300
<br />6i3O/2C23
<br />2,385,000
<br />669,275
<br />3,054,275
<br />6130!2[24
<br />2,585,000
<br />555,988
<br />3,:40,968
<br />6130/2025
<br />2,805
<br />433200
<br />3,238,200
<br />6130!2026
<br />3,035,000
<br />299,963
<br />3,334,903
<br />6130!2027
<br />3,280,000
<br />155,800
<br />3,435,800
<br />Totals 1 $ 30,460,000 $ 16,118ASS $ 40,578,888
<br />5 1,3UU,000 $
<br />1.303,000 $
<br />2 1 ,600,000
<br />1,3 3"J.UU0
<br />1.333,000
<br />2,6 78,000
<br />_.25 x
<br />1,379,70
<br />1.373,170
<br />2,758,340
<br />..25 X
<br />1,420,545
<br />1423,545
<br />2,841,090
<br />..25 x
<br />1,463,161
<br />1!163,161
<br />1,9 ,6,323
<br />75 x
<br />1,507,056
<br />1.507,056
<br />3,0:4,113
<br />25 n
<br />1,552,268
<br />1,552,268
<br />3,104,:36
<br />125 A
<br />1,596,836
<br />1,593,836
<br />3,197,672
<br />:25.
<br />1,646,801
<br />1,643,801
<br />3,293,602
<br />1.25 x
<br />1,65`5. X05
<br />1.695,205
<br />3,392,410
<br />1.25 x
<br />1,747,091
<br />1,747,091
<br />3,494,183
<br />1.25 x
<br />1
<br />1,799,504
<br />3,599,008
<br />1 1.25 x
<br />3,E5
<br />1853,489
<br />3,706478
<br />1.25x
<br />1,9 :194
<br />1,903,094
<br />3,818,188
<br />1.25 x
<br />1,9C1G,1G7
<br />1,965,367
<br />3,932,733
<br />'.25 x
<br />2,G:5,358
<br />2,02;,3.8
<br />4,050,715
<br />L25 x
<br />,0j6,118
<br />2,080,118
<br />4,1 1 2,37
<br />.25 x
<br />2,140.42
<br />2,143,702
<br />4,297,404
<br />125 x
<br />Note: The City &County's iicremental revenues areercwca' annualIV.
<br />He advised that debt service principle payments are usually a level
<br />amount throughout the term and that no matter which schedule is selected, it
<br />will have a bearing on the proposed building for the Health Alliance.
<br />Mike Legg, Kannapolis City Manager, responded to a variety of questions
<br />from the Board. Issues addressed included the following: per the Minimum
<br />
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