HomeMy WebLinkAboutC.054.93011_0525 (2)of the city's loss of investment earnings on the amount expended for sewer to the
airport based upon the earnings being received by the city on its investments during the
term of repayment and (2) the county would reimburse the city for one-half of the net
cost paid by the city for the sewer improvements. He said the county added a
stipulation that if the bids exceeded the engineering estimate of $1,063,000.00, the
county would be given an opportunity to re -review participation in the project. Hites
said the city had agreed to award the sewer contract to Buckeye Construction Company
for $1,547,081.00, and this exceeded the engineering estimate. He said the original bid
from Buckeye was $1,679,753.25; however, several deductions had already occurred.
Hites said the $1.5 million would include the sewer construction ($1,497,080.55) and
the acquisition of rights-of-way along with miscellaneous costs ($50,000). He asked for
approval of the bid, and he said that future expansion had been taken into consideration
in the sewer project.
Commissioner Johnson noted that even with the increased sewer costs, the total
project was still under budget. He said the county's cash flow would work out fine, and
that in ten years, there would be a substantial amount of tax base at the airport.
OTIO�N� by Chairman Tice to approve an addendum to the inter -local
agreement entered into between the County of Iredell and the City of Statesville, dated
July 6, 2004, increasing the maximum project cost to $1,547,081.00.
VOTING: Ayes — 5; Nays — 0.
PUBLIC HEARINGS
Chairman Tice declared the meeting to be in a public hearing.
Consideration of an Economic Development Incentive for MB2/MBV
Motorsports: Economic Developer Melanie O'Connell Underwood and Jay Frye, the
CEO/General Manager of MB2/MBV Motorsports attended the meeting. Underwood
said the company planned on purchasing the former Eaton or Aeroquip building in
Mooresville, NC for its business operations.
Frye said the company previously (1996) operated in a leased facility in
Mooresville; however, it later moved to Concord, NC. He said the company needed to
expand, and the contract on the Eaton building was supposed to close in March of this
year.
Chairman Tice said the company was requesting an incentive of $74,820.00,
over a five-year period, based upon a $4.3 million investment in the county. She said the
company would use the incentive for site improvements associated with the
rehabilitation of an existing building.
No one else desired to speak, and Chairman Tice adjourned the hearing.
OTIO by Commissioner Robertson to grant the economic development
incentive for MB2/MBV Motorsports in the amount of $74,820.00, over a five-year
period, based upon a $4.3 million investment in Iredell County.
VOTING: Ayes — 5; Nays — 0.
Chairman Tice declared the meeting to be in a public hearing.
Consideration of an Economic Development Incentive for an Undisclosed
Company: Economic Developer Jeff McKay announced that the Kohler Company was
considering the purchase of the former LesCare or Falcon Industries facility. He said
that if Kohler located in the county, the company would operate a cabinet manufacturing
operation with 449 employees during the first phase. McKay said the projected
investment in the county would be $19.7 million, and this excluded the real estate. He
continued by saying (1) Kohler was a 131 -year-old company, (2) the company was listed