cabarrus county board of commissioners regular meeting november ...

October 17, 2011 (Regular Meeting)Pageits operations by building a new location in Cabarrus County and investingsome $5 million in the project and creating 40 new jobs. A similarresolution was adopted in 2007.UPON MOTION of Commissioner Burrage, seconded by Commissioner Carruthand unanimously carried, the Board adopted the following resolution:RESOLUTIONResolution No. 2011-22WHEREAS, the Cabarrus County Board of Commissioners desires toencourage the expansion of quality industry and the creation of new jobs inthe County; andWHEREAS, Baucom’s Nursery, a North Carolina corporation with itsprincipal place of business in Mecklenburg County, is considering expandingits operations by building a new location in Cabarrus County and investingsome $5 million in the project and creating 40 new jobs; andWHEREAS, the expansion requires that a turn lane is added to Highway601, at the intersection of Flowes Store Road, near the location of theBaucom’s Nursery project, and that the Department of Transportation (DOT) isrequesting that Baucom’s Nursery pay for this turn lane at a cost ofapproximately $250,000.00; andWHEREAS, the Board of Commissioners deem this project by Baucom’sNursery to be very important to the economic development of Cabarrus Countyand supports asking the North Carolina Senate and Houseto work with theNorth Carolina Department of Transportation to approve fundstopay the costof the turn lane on Highway 601 at the intersection of Flowes Store Road.NOW THEREFORE BE IT RESOLVED that theCabarrus County Board ofCommissioners by this resolution, hereby asks the North Carolina Senate andHouse to work with the North Carolina Department of Transportation to approvefunds to pay the cost for the addition dition of the turnlane on Highway 601 andFlowes Store Road.Adopted this the 17 th day of October, 2011./s/ H.Jay White, Sr. _____H. Jay White, Sr., ChairmanBoard of CommissionersAttest:/s/ Kay Honeycutt________________Kay Honeycutt, t, Clerk to the Board(G) NEW BUSINESS(G-1) CCS – Cabarrus CoDCounty School’s Request for Use of QSCB ContractorSales TaxDbarrusDRAFTOn behalf of the Cabarrus County Board of Education (BOE), KellyKluttz, Cabarrus County Schools (CCS) Finance Director, requested thecontractor sales tax refunds for the QSCB (Qualified School ConstructionBonds) projects, currently used to reduce debt service, be used to offsetrising construction costs. She advised the sale of the QSC bonds weredelayed which caused an unanticipated failure to fund all of the identifiedprojects. She estimated the shortfall to be approximately $1.3 million andnoted the interest on the bonds is less than one (1) percent. To fund theseprojects later, would likely cost more. In response to questions from theBoard, she noted that all the sales tax refunds would not cover the $1.3million deficit and that many of the projects have not been put out for bid.A lengthy discussion ensued during which Commissioner Carruth explainedthe concept of contractor sales tax refunds for the benefit of the viewingaudience. Ms. Dubois reviewed various stipulations associated with the Bondsand noted the sale delay was attributed to obtaining a favorable interestrate in the market. Discussion continued with Ms. Kluttz and Pam Dubois,Deputy County Manager, responding to a variety of questions from the Board.Vice Chairman Poole MOVED to table “Cabarrus County School’s Requestfor Use of QSCB Contractor Sales Tax” until such time as specific data(amount of sales tax and remaining projects, if any) can be provided by bothBoards of Education. Commissioner Carruth seconded the motion.A-1Page 32