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12-09-2013 Notice of Public Hearing

 

NOTICE OF PUBLIC HEARING

 

PLEASE TAKE NOTICE the City Council of the City of Graham, North Carolina, will hold a Public Hearing on December 9, 2013 at 8:00p.m. in the Council Chambers of the City of Graham Municipal Building, 201 S. Main St., Graham, NC. The purpose of the meeting will be to receive comments on a proposal to extend economic development incentives for a proposed distribution facility to be constructed in the Alamance County, City of Graham and City of Mebane Economic Development zone. The proposed incentive would include the acquisition by the Cities of Graham and Mebane and the County of Alamance of approximately 186 acres of land to be conveyed to the company in accordance with the provisions of NCGS 158-7.1(d). The estimated value of the interest to be conveyed is $4,339,000.00. The consideration for the conveyance will be the company’s agreement to construct upon the site within five years, improvements consisting of a distribution center and related facilities which will employ not less than 450 people and which will increase the tax base by not less than $85,000,000.00. Funding for the land acquisition will come from fund balances on hand and will not require a tax increase by any of the governmental units. Following the public hearing, it is the intent of the City Council to approve said acquisition and conveyance after making the determinations and contractual agreements required by NCGS 158-7.1.