c090710 I _Project Darr_Closed Session I (Project Darr) September 7, 2010
At 5:50 p.m., the Board convened closed session on a matter relating to the location or
expansion of business in the area, pursuant to NCGS 143-318.1l(a)(4). Commissioners Holmes,
Frye, Kemp, Lanier and Haywood were present. Also present were County Manager Richard
Wells; Will Massie, Finance Officer; Darren Allen, County Attorney; Aimee Scotton, Associate
County Attorney; Cheryl Ivey, Clerk to the Board; and Bonnie Renfro from Randolph County
Economic Development Corporation.
Bonnie Renfro, EDC President, said that a manufacturing and distribution company wishes to
relocate and expand its business to a currently vacant industrial facility located at 3803
Comanche Road in the City of Archdale. The building owner is seeking grant assistance for
permanent renovations and repairs to the building. A breakdown of the company wishing to
relocate to Archdale is as follows:
Investment: $1,700,000 relocated equipment
$700,0004800,000 in new equipment
Jobs: 25 new jobs & 46 existing jobs will be relocated
Revenues: $5,800 annual—Archdale
$11,720 annual—Randolph County
(Does not include real estate taxes)
Ms. Renfro said that the NC Rural Center offers a Building Reuse Grant funded at $12,000
per new full-time job to fund up to 50% of the cost of permanent renovations and repairs to a
vacant industrial or commercial facility. The grant is structured as a forgiven loan whereby the
City of Archdale would lend the grant proceeds to the building owner to complete the
renovations. If the new job commitment is met, the loan is forgiven. Jobs must be created within
18 months of the grant award and retained for six months. Commitment is 25 new jobs for this
project. The grant award date is November 4, 2010. If approved, Archdale would enter into an
agreement with the NC Rural Center to administer the grant and complete a loan agreement with
J.L. Darr & Sons LLC for grant proceeds. A local government match is required. Ms. Renfro
said that the project budget is $398,945 and requested that the City of Archdale and the County
each contribute $10,000.
The consensus of the Board was to approve a $10,000 local match for this project, following
the necessary due diligence, which will include a public hearing. The Board directed the Clerk to
advertise a public hearing for October 4, 2010.
Closed session on this topic ended at 6:00 p.m.
J. Harold Holmes, Chairman Darrell L. Frye
Phil Kemp
Arnold Lanier
Stan Haywood
Cheryl A. Ivey, Clerk to the Board