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Commissioner Philbeck - To Accept and Appropriate Grant Funds for the TOSAF USA Rural Economic Development Division (REDD) Public Infrastructure Grant Contract From The North Carolina Department of Commerce (100% Grant Funds - $500,000)
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STAFF CONTACT
Donny Hicks - Economic Development Commission - 704-825-4046
BUDGET IMPACT
budget
Appropriate State revenues. No additional County funds.
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BUDGET ORDINANCE IMPACT
N/A
BACKGROUND
TOSAF USA will receive a REDD Public Infrastructure Grant from the North Carolina Department of Commerce. Grant funds will be used for public infrastructure to include: roads, water and sewer lines, natural gas lines, and rail spur extensions. All approved infrastructure projects must and will be publicly owned and maintained. The amount of the grant is based upon the tier level of the county and the overall State incentive proposal for TOSAF; based upon $10,000 per job with a maximum of $500,000. Company must create 60 full time positions with benefits for a two year period to receive grant funds. The program requires a 5% local match which was satisfied by the relocation of the Henry Cox access easement for the rail spur.
POLICY IMPACT
N/A
ATTACHMENTS
Grant Agreement & Budget Change Request