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March 10, 2008 (Work Session)
<br />Page 737
<br />The Board of Commissioners for the County of Cabarrus met for an Agenda
<br />Work Session Meeting in the Multipurpose Room at the Cabarrus County
<br />Governmental Center in Concord, North Carolina on Monday, March 10, 2008, at
<br />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 John Day, County Manager; Richard M. Koch, County
<br />Attorney; Mike Downs, Deputy County Manager; Pam Dubois, Deputy County
<br />Manager; Kay Honeycutt, Clerk to the Board and Lori Hinson, Deputy Clerk to
<br />the Board.
<br />Call to Order
<br />Following the conclusion of the March lOr" recessed meeting, Chairman
<br />White called the agenda work session to order at 9:03 p.m.
<br />Update on Hoard Retreat and Legislative Agenda
<br />Chairman White thanked Board members for attending the Retreat held
<br />Friday and Saturday, March 7 and 8, 2008 at the Governmental Center. He
<br />reported countywide goals and outcomes as well as a Legislative Agenda were
<br />developed at the retreat. He further commented on the Board's decision not
<br />to include House Bill No. 1790, which gives school boards authority to levy
<br />taxes and assume all county responsibilities for school funding, on the
<br />Legislative Agenda because of the good working relationship that exists
<br />between the County Commissioners and Boards of Education.
<br />m.
<br />Incentive Grant Request - Fly Right Inc. -
<br />Ryan McDaniels, with the Cabarrus Economic Development Corp.,
<br />introduced Patrick Zimmer, President of Development Advisors Inc., who is
<br />helping Fly Right, Inc. locate a suitable facility in Cabarrus County. Mr.
<br />McDaniels requested a public hearing be scheduled for March 24, 2008 to
<br />consider an Industrial Development Incentive Grant for Fly Right, Inc.
<br />(Phases I and II). For both phases, he reported a total of18 £ull-time jobs
<br />with an average wage of $29/hour will be created and include a total project
<br />investment of $12 million. The grant analysis £or Phase I and II is as
<br />follows:
<br />Phase I Year 1 Year 2 Year 3 Year 9
<br />Total Assessed Value $9,000,000.00 $9,000,000.00 $9,000,000.00 59,000,000.00
<br />County Taxes at .63 $25,200.00 525,200.00 $25,200.00 $25,200.00
<br />Incentive @ 858 $21,920.00 $21,920.00 $21,920.00
<br />Net Taxes to County $3,780.00 $3,780.00 $3,780.00 $25,200.00
<br /> 3 Year Taxes $75,600.00
<br /> 3 Year
<br />Incentive
<br />$69,260.00
<br /> 3 Year Net
<br />Revenue
<br />$11,390.00
<br />Phase II Year 1 Year 2 Year 3 Year 9
<br />Total Assessed Value $8,000,000 .00 $8,000,000.00 $8,000,000.00 $8,000,000. 00
<br />County Taxes at .63 550,900 .00 $50,900.00 550,900.00 $50,900. 00
<br />Incentive @ 858 $92,890 .00 $92,890.00 $92,890.00
<br />Net Taxes to County $7,560 .00 $7,560.00 $7,560.00 550,900. 00
<br /> 3 Year Taxes $151,200. 00
<br /> 3 Year
<br />Incentive
<br />$128,520.
<br />00
<br /> 3 Year Net
<br />Revenue
<br />$22,680.
<br />00
<br />In response to questions from the Board related to an eight-year
<br />clawbackprovision, John D. Day, County Manager, commented on the need for
<br />the provision since the company's primary investment is a flight simulator
<br />which is mobile and classified as business personal property.
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