HomeMy WebLinkAboutC.054.93008_1641 (2)1194
is to rezone from RA to CB. The planning board reduced the rezoning from GB to CB on a unanimous
vote at their meeting on October 4, 1989. The property is located on SR 1109, Williamson Road,
between Catalina Road and Ponderosa Road, near I-77.
Those speaking were:
Robert Lee - asked question.
No one else spoke for or against the rezoning request.
ROLIN CHOATE, AGENT FOR MARY L. & RUTH M. REID: Mr. Lundy identified this property on the
zoning map. The request is to rezone from RA to CB. The property is located on SR 1109, Williamson
Road, between Catalina Road and Ponderosa Road, near I-77.
Those speaking were:
Betty Lee: Asked about 200' at intersection of Ponderosa & SR 1109 to be zoned residential.
Rolin Choate: Said it would be all right with him for 200' to be zoned residential.
Donna Smith: Inquired about the business plans.
No one else spoke for or against the rezoning.
MICHAEL S. COLE, AGENT FOR CRESCENT RESOURCES, INC.: Mr. Lundy identified this property on the
zoning map. Mr. Miles Boyer and Mr. Michael S. Cole discussed their plans for the property, which
is located off SR 1102, Langtree Road, between NC 1155 and SR 1104, Transco Road.
No one present spoke for or against the rezoning request.
AMENDMENT TO THE LAND DEVELOPMENT PLAN: Mr. Lundy discussed the proposed amendment to the land
development plan, which would expand the existing industrial node surrounding SR 1104, Transco Road,
at SR 1102, Langtree Road, near I-77.
REGULAR MEETING
Chairman Sloan resumed the regular meeting.
AMESBURY INDUSTRIES, INC.: MOTION from Commissioner Crosswhite to approve the Approval In
Principle for the $4.5 million Amesbury Industries, Inc., project and the resolution as follows:
APPROVAL IN PRINCIPLE OF INDUSTRIAL PROJECT FOR
AMESBURY INDUSTRIES, INC., AND THE FINANCING THEREOF WITH
INDUSTRIAL REVENUE BONDS IN A PRINCIPAL
AMOUNT OF UP TO $4,500,000
WHEREAS, The Iredell County Industrial Facilities and Pollution Control Financing Authority
(the Authority) has agreed to assist in the financing under the North Carolina Industrial and
Pollution Control Facilities Financing Act (the Act) of an industrial project by Amesbury Indus-
tries, Inc., a Massachusetts corporation (the Company), to acquire, construct and equip a weather
stripping facility in Iredell County (the Project) and has indicated that agreement by the execution
of an Inducement Agreement between the parties dated as of September 8, 1989, and;
WHEREAS, under G.S. 159C-7 each project must be approved by the Secretary of the Department of
Economic and Community Development (formerly the Department of Commerce) and, under Chapter 588 of
the 1987 North Carolina Session Laws, the Federal Tax Reform Allocation Committee must allocate a
sufficient amount of North Carolina's "private activity bond limit," as defined in Section 141 of
the Internal Revenue Code of 1986, as amended, (the Code) to the financing; and
WHEREAS, The Rules and Procedures of the North Carolina Depatment of Economic and Community
Development require that the governing body of a county approve in principle any project to be
financed under the Act; and
WHEREAS, The Board of Commissioners has today held a public hearing with respect to the advis-
ability of the Project and the issuance of bonds therefor: and
WHEREAS, Section 147(f) of the Code requires that the Board of Commissioners approve the plan
of financing for the bonds; and
WHEREAS, Kennedy, Covington, Lobdell & Hickman, originally recommended as bond counsel for the
financing, will serve as counsel to the Company, and the Company has requested and the County
Attorney has recommended that Hunton & Williams serve as bond counsel in connection with the
issuance of the Bonds;
NOW, THEREFORE, the Board of Commissioners of Iredell County, meeting in regular session in
Statesville, North Carolina, on November 7, 1989, do the following:
BE IT RESOLVED BY THE BOARD OF COMMISSIONERS FOR THE COUNTY OF IREDELL:
1. The proposed "industrial project" consisting of the acquiring, constructing and equipping
of a weather stripping facility in Iredell County to be owned and operated by the Company and the
issuance of bonds in an amount not to exceed $4,500,000 are hereby approved in principle. ,