HomeMy WebLinkAboutC.054.93011_1275 (2)awarded a $382,800 economic development incentive and out of this, $144,782 would be used for
three grant matches.
Grant Fund Sources & Uses are as follows:
Sources:
Community Development Block Grant
576,846
NC Dept. of Transportation Rail Access Grant
124,000
Rural Development Center Economic Infrastructure Program
47,500
Iredell County Economic Incentive
144,782
Uses of Funds:
$ 893.128
Waterline construction (including engineering)
58,000
Sewer service construction (including engineering)
30,000
Rail Construction (including engineering)
764,128
Planning & Environmental Assessment
11,500
Administration
29.500
The following four items were included in this consent agenda item:
Adoption of a Resolution for the County's Application for the CDBG Funding
Whereas, the Iredell County Board of Commissioners has previously indicated its desire to assist
in economic development efforts within the County; and,
Whereas, the Board has held two public hearings concerning the proposed application for
Community Development Block Grant funding to benefit Pratt Industries; and,
Whereas, the Board wishes the County to pursue a formal application for Community
Development Block Grant funding to benefit Pratt Industries and will invest monies into the
project as committed to in the application.
Now, Therefore Be It Resolved, by the Iredell County Board of Commissioners that Iredell County
is authorized to submit a formal application to the North Carolina Department of Commerce for
approval of a Community Development Block Grant for Economic Development to benefit Pratt
Industries.
2. Adoption of a Resolution for the County's Assessment Policy
Whereas, Iredell County is participating in the Community Development Block Grant
Program under the Housing and Community Development Act of 1974 as administered through
the North Carolina Department of Commerce; and,
Whereas, an Assessment Policy is required for the County's CDBG project.
Now, Therefore Be it Resolved, that to accomplish the above, the Iredell County Board of
Commissioners hereby adopts the attached Assessment Policy to be used throughout the
implementation of the County's Community Development Block Grant Project.
3. Approval of a Legally Binding Commitment between the County & Pratt Industries
4. Authorization for the Chairman, County Manager, Deputy County Manager &
Clerk to the Board to Approve Documents as Necessary to Complete the Application
6. Request for Approval of a North Carolina Department of Transportation (NCDOT) Rail
Industrial Authorization for the Chairman, County Manager, Deputy County Manager &
Clerk to the Board to Approve Documents as Necessary to Execute the Agreement:
Deputy County Manager Susan Blumenstein and CDBG Consultant David Hartigan said the
NCDOT had authorized a state financial assistance grant of $124,000 for engineering, site
preparation, track construction, and switch installation for the new Pratt Industries facility
(formerly Jet Corr, Inc.)
Hartigan said the county would have to own the rail track, once constructed, at least until all grant
obligations were met.
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