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January 7, 2008 (Work Session) Page 667 <br />The Board of Commissioners for the County o£ Cabarrus met £or an Agenda <br />Work Session in the Multipurpose Room at the Cabarrus County Governmental <br />Center in Concord, North Carolina on Monday, January 7, 2008, at 3:30 p.m. <br />Present - Chairman: H. Jay White, Sr. <br />Vice Chairman: Joni D. Juba <br />Commissioners: Robert W. Carruth <br />Grace M. Mynatt <br />Coy C. Privette <br />Also present were <br />Attorney; Mike Downs, <br />Manager; Kay Honeycutt, <br />the Board. <br />Call to Order <br />John Day, County Manager; Richard M. Koch, County <br />Deputy County Manager; Pam Dubois, Deputy County <br />Clerk to the Board and Lori Hinson, Deputy Clerk to <br />Following the conclusion of the recessed meeting, Chairman White called <br />the agenda work session to order at 3:53 p.m. <br />Fly Right, Inc. - Industrial Development Incentive Grant Requset <br />Ryan McDaniels, with the Cabarrus Economic Development Corporation <br />(EDC), requested a public hearing be scheduled on January 22, 2008 at 6:30 <br />p.m. for Fly Right, Inc., a flight simulator-based training provider. He <br />reported Fly Right, Inc., a unique start-up venture, would be the only <br />company of its kind between Florida and Washington, D.C.; the company is <br />expected to invest approximately $4 million ($3.8 million - equipment; <br />$200,000.00 - real estate) in Phase I and create approximately 10 full-time <br />jobs with an average wage of $29.00 per hour. He pointed out the company <br />plans to upfit an existing building near the airport, but has not finalized <br />its lease agreement. (Phase II, which will be presented in the future, <br />included an investment of $16 million and the creation of 18 new full-time <br />jobs. Next, he reviewed the following grant analysis: <br /> Year 1 Year 2 Year 3 Year 9 <br />Total Assessed Value $9,000,000. 00 $9,000,000 .00 59,000,000.00 $9,000,000. 00 <br />County Taxes at .63 525,200. 00 $25,200 .00 525,200.00 525,200. 00 <br />Incentive @ 858 521,920. 00 $21,920 .00 521,920.00 <br />Net Taxes to County 53,780. 00 53,780 .00 $3,780.00 $25,200. 00 <br /> 3 Year Taxes 575,600. 00 <br /> 3 Year <br />Incentive <br />$69,260. <br />00 <br /> 3 Year Net <br />Revenue <br />511,390. <br />00 <br />Mr. McDaniels and Clay Andrews, also with the Cabarrus EDC, responded <br />to a variety of questions from the Board and a general discussion ensued. <br />Issues addressed included the following: the endorsement of the grant <br />request by the EDC's Board of Directors by a vote of 8 to 9; concerns <br />addressed by the EDC Board: start up company, mobility of the simulator, <br />setting precedents for incentives for projects related to the airport; how <br />the incentives offered by Cabarrus County compare to the rest of the counties <br />in the region; what happens to a company that receives an incentive grant but <br />does not materialize; built-in protections to the incentive program; the <br />number of employees to be hired by Fly Right, Inc., etc. <br />UPON MOTION of Commissioner Mynatt, seconded by Commissioner Carruth <br />and unanimously carried, the Board voted to place Industrial Development <br />Incentive Grant Request for Fly Right, Inc., on the January 22, 2008 Agenda <br />as a New Business item and scheduled a public hearing for 6:30 p.m. <br />Commerce Department - Reservation of Capacity Certificate - Avignon <br />Qnhrii vi vi nn <br />Susie Morris, Planning and Zoning Manager, presented the following <br />information on the Reservation of Capacity Certificate for the Avignon <br />Subdivision: the applicant is Red Clay Development, LLC; the project consists <br />of 29 single-family lots on approximately 50 acres; the project is located at <br />the intersection of Trinity Church Road and Trinity Church Drive; and has a <br />proposed build-out schedule of 29 lots platted in 2008. She reviewed the <br />following information and pointed out there is planned capacity available for <br />