May 2, 2005 - 3:00 PM - County Board of Commissioners Meeting Minutes (Special)
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10 143 Meeting of the Johnston County Board of Commissioners May 2 , 2005 - Special Session The Johnston County Board of Commissioners met in special session Monday , May 2 , 2005 , at 3 00 pm in the First Citizens Health Conference Auditorium , Johnston Memorial Hospital Medical Mall , Highway 301 North , Smithfield , North Carolina The following members were present Present Cookie Pope , Chairman , Wade M Stewart , Vice - Chairman , Allen L Mims , Jr , Jeffrey P Carver , W Ray Woodall , DeVan Barbour and Tony Braswell Absent None Also Present Rick J Hester , County Manager , April N Byrd , Clerk to the Board , and J Mark Payne , County Attorney Chairman Cookie Pope called the meeting to order and the following business was transacted 1 Public Hearing - 3 00 pm - Economic Incentives for TT Electronics Chairman Pope opened the public hearing and invited anyone to come forward and address the Board on the County’s proposed incentive package for TT Electronics for a major expansion of their operation in Smithfield Economic Development Director , Michael de Sherbinin , noted the State proposes a One NC Fund Grant to TT Electronics in the amount of 100,000 , conditioned upon the County providing a local match The County’s proposed incentive package is outlined below County’s Proposed Incentive Package The County proposes an Economic Development Incentive Grant EDIG for five consecutive years beginning in 2006 in the amount of 20,000 per year for a total of 100,000 expiring on January 1 , 2011 , subject to a 6 million capital investment to occur on or before December 31 , 2006 by TT Electronics The County may eliminate or reduce future grants if the 6 million capital investment is reduced beyond normal depreciation during any grant year The County’s participation in the EDIG occurs only after the company pays their full ad valorem tax assessment for the base as well as the expansion component The EDIG funds can reimburse TT Electronics on an annual basis for certain project components that include , but are not limited to the following • Architectural and engineering design costs • Project related legal fees • Permit costs • Site grading expenses • Utility extension and upgrade expenses • Capacity and or acreage fees • Installation of building pad costs • Costs for equipment and installation thereof • Worker training expenses • Sales tax • Costs for pretreatment • Costs incurred for environmental compliance matters There being no further comments , the Chairman closed the public hearing Motion to Approve Incentive Package for TT Electronics Upon a motion by Commissioner Allen L Mims , Jr , seconded by Commissioner W Ray Woodall and carried by unanimous vote , the Board approved the incentive package for TT Electronics as proposed There being no further business , Commissioner W Ray Woodall moved the Board adjourn Commissioner Tony Braswell seconded the motion , which carried by unanimous vote ___________________________________ Cookie Pope , Chairman ____________________________ April N Byrd , Clerk to the BoardPage