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Public Hearing - RE: Commissioner Hovis - EDC - To Approve Incentives Pursuant to N.C.Gen.Stat. 158-7.1 and to Authorize Gaston County to Enter into an Economic Development Agreement (EDA) with Edgewood Industrial Phase 1 Owner LP
1. Receive Citizen Comment
2. Close Public Hearing
3. Accept Motion to Approve
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STAFF CONTACT
Donny Hicks - Economic Development Director - 704-825-4046
BUDGET IMPACT
budget
Grants will be issued to the developer following completion of construction and issuance of a certificate of occupancy.
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BUDGET ORDINANCE IMPACT
BACKGROUND
Trinity Capital Partners intents to construct four warehouse and distribution facilities in the Edgewood 85 Business Park in Bessemer City. The total space for all four facilities is estimated to be 1,000,000 square feet with an investment of approximately $44,000,000. The first phase (two buildings) is estimated to be 650,000 square feet which is anticipated to qualify for a Level III grant. The second phase (two buildings) is estimated to be 350,000 square feet which will qualify for a Level II grant.
N.C. General Statutes requires a public hearing, which has previously been advertised, followed by a resolution to authorize the grant.
POLICY IMPACT
N/A
ATTACHMENTS
Resolution