020617 III Petty's GarageClosed Session III — Petty's Garage February 6, 2017
At 8:39 p.m., already in closed session on another matter, began closed session on a
different matter relating to the location or expansion of business in the area, pursuant to NCGS
143-318.11(a)(4). Commissioners Allen, Frye, Haywood, McDowell and Kidd were present.
Also present were County Manager Hal Johnson; Will Massie, Assistant County
Manager/Finance Officer; County Attorney Ben Morgan; Aimee Scotton, Associate County
Attorney; Amanda Varner, Clerk to the Board; Randolph County EDC Existing Industry and
Business Coordinator Kevin Franklin, and Randolph County EDC President Bonnie Renfro.
Randolph County EDC President Bonnie Renfro said Petty's Garage has expressed a desire to
receive assistance to facilitate the Petty expansion in Level Cross through the Golden LEAF's
Open Grants Program. This type of grant has never been done by Randolph County. If approved,
the grant proceeds would be used by the County to purchase a piece of equipment that would be
placed in service at Petty's Garage LLC and leased to the company by Randolph County at an
amount plus the applicable federal rate of interest for its useful life. The local government would
retain the lease proceeds to use for future charitable economic development purposes. If the
company does not create the promised jobs, then the local government unit would have to pay back
a portion of the grant to Golden LEAF based on the number of jobs by which the target is missed.
She said that in no instance would the repayment to Golden LEAF exceed the amount of funds paid
to the County through the lease.
Ms. Renfro asked that the Board consider setting a public hearing for the March 6th meeting.
At 8:45 p.m., closed session ended on this topic.
David Allen, Chairman
Stan Haywood
Maxton McDowell
Darrell L. Frye
Kenny Kidd
Amanda Varner, Clerk to the Board