HomeMy WebLinkAboutC.054.93009_1837 (2)Commissioner Johnson accepted the suggestion.
MO`I'tON by Commissioner Johnson to authorize the County I.inance Officer to request a
grant anticipation note in (lie amount of $2,934,000 floor the State of North Canulina,
VOTING: Ayes - 5; Nays - 0. �--
MO`T'ION by Commissioner Johnson to include in the FY 98-99 budget the amount
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$326,000 to cover the difference between the $3.26 million bond money and the grant anticipation
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notes ($2,934,000).
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Boone said lie felt this motion was an act to spend another $326,000 out of next year's
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budget. "This is $326,000 of lredell County taxpayers' money that will be appropriated to the school
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system in addition to what has already been agreed on. This is another half cent on the tax rate.
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According to the Tax Foundation, the date of May 9, 1998 will be Tax Freedom Day. What this all
means is that the average American works from January T to May 9 just to pay his/her taxes."
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Boone said he agreed to loan the money to the schools, but he was not in favor of depriving the
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taxpayers another $326,000. Boone said the request was for $3.26 million to build 22 classrooms.
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This would be $148,000 per classroom. Boone said he felt the classrooms could be built with 9017,
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of the money or $130,000 per classroom.
Commissioner Fortner mentioned that at the last meeting Bill Long, Chairman of the lredell-
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Statesville School Board, said that by obtaining the money now there would be a savings of
borrowing over the inflation of construction cost in the amount of $363,458.90. Also, that he
mentioned another incentive to borrowing now was that the amount of "lost purchasing power"
would be $472,700.
Commissioner Stewart asked Long when the money was actually needed. Long said the
school system wanted to start construction as soon as possible.
VOTING: Ayes - 4; Nays - 1 (Boone)
PUBLIC HEARINGS
Chairman Ilaire declared the meeting to be in public hearing session.
CARDINAL FG COMPANY - CONSIDERATION OF REQUEST FOR $1,350,000
ECONOMIC INCENTIVE APPROPRIATION (SI'Z'E PREPARATION, RAIZ., ACCESS,
AND JOB TRAINING) & REQUEST FOR APPROVAL OF RESOLUTION AUTHORIZING
PERMISSION TO ENTER INTO AN AGREEMENT WITH THE N.C. DEPT. OF
TRANSPORTA'T'ION: Chairman Haire explained the hearing was in accordance with G.S.
158.7.1 and the purpose was to consider an expenditure of approximately $1,350,000 for the
Cardinal FG Company as an economic incentive to locate a manufacturing facility in lredell County.
Melanie O'Connell Underwood, Certified Economic Developer for the South lredell
Community Development Corporation, spoke and advised that several locations were investigated
by the Cardinal group before deciding on a plant location in the Mooresville Industrial Park.
JinrSteohens, Plant ManageroftheMooresville Cardinal FG facility, explained there would
be an initial investment of $75 million. He mentioned that rail access was needed for the shipment
of raw materials. Approximately 250 people would work at the plant and all of them, with the
exception of about 30, would be hired from this area. The incentive money would be used for
grading, site preparation, and employee training.
Chairman 1 Taire adjourned the public hearing.