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100217 Project New WorldClosed Session – Project New World— October 2, 2017 At 7:53 p.m., the Board convened closed session on a matter relating to the location or expansion of business in the area, pursuant to NCGS 143-318.11(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; and Randolph County EDC Existing Industry and Business Coordinator Kevin Franklin. Mr. Franklin introduced Project New World stating that it has been discussed with each Commissioner individually because it has been on the "fast track." He said he wanted to give an update on what has happened within the last week to ten days. He said it is still progressing and the long list of things that needed addressing was taken care of during those ten days. He said he appreciated the effort that has been put into the project. The company plans a $1.6 billion dollar investment with an anticipated 4,000 jobs over a period of time. The client has visited the property many times and has surveyed it from the air several times. The top three locations being considered in the US will hopefully be selected this week with a final decision from the client by November 1, 2017. The client provided a site design which is a rectangle in shape. Purchase options on additional land have been acquired to complete the required site dimensions, if the client selects this site. Mr. Franklin said the biggest issue has been power lines that cross the property but Duke Energy has agreed to make all the necessary changes within 14 months if the client selects the location. Commissioner Frye stated that there may be a request for the County to contribute toward purchase of one of the properties for possibly over $3 million. Commissioner Haywood stated he understood that it was going to be for $2.5 million and doesn't believe the County should agree to any more than that and maybe the NCRR could make up the balance of that option. Mr. Johnson stated that a public hearing is required before the County can purchase any land. Mr. Franklin said that the NCRR also has options on additional property along its rail. Mr. Johnson said the County may need to prepare for special meetings (October – early November timeline) if asked to rezone any newly acquired properties. If the Planning and Zoning Board's decision is to approve the rezoning request by the Foundation (GRMF) and there was an appeal, the Commissioners may also need to set a special meeting (depending on how it falls and the time constraints) to hold a required public hearing. Finance Officer Will Massie reviewed the impact incentives would have on County finances in order to give some guidance to the EDC and the Commissioners. He used the scenario of 70% of anticipated property tax revenues for 20 years and estimated it would take approximately five years for the County to see the payback on their initial investment, based on the proposed corporate investment of $1.6 billion. 10/02/2017 Mr. Franklin said the company is looking at being a part of the community for a much longer term than 20 years. He added the company believes in quality and a commitment to the communities in which it resides. They want to be a friendly and good neighbor. At 8:37 p.m., on motion of Frye, seconded by McDowell, the Board voted unanimously to end closed session and to return to open session. David Allen, Chairman Stan Haywood Maxton McDowell Darrell L. Frye Kenny Kidd Amanda Varner, Clerk to the Board 10/02/2017