12-09-2013 Special Meeting

SPECIAL MEETING

CITY OF GRAHAM

AGENDA

MONDAY, DECEMBER 9, 2013

8:00 P.M.

201 S. MAIN ST.

GRAHAM, NC 27253

 

Meeting called to order by the Mayor.

 

1. PUBLIC HEARING: 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.

 

2. Consider Performance and Purchase Agreement (Incentives) for Project Swordfish

3. Project Swordfish Budget Ordinance

4. Discuss Fund Balance Policy