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c010807Closed Session — January 8, 2007 At 6:15 p.m. the Board adjourned to closed session to discuss matters relating to the location or expansion of business in the area, pursuant to NCGS 143-318.11(a)(4). Commissioners Holmes, Kemp, Lanier and Haywood were present. Commissioner Frye was absent. Also present were Interim County Manager Richard Wells; Assistant County Manager/Finance Officer Will Massie; County Attorney Alan Pugh; Aimee Scotton, Associate County Attorney; Cheryl Ivey, Clerk to the Board; and Bonnie Renfro and Harry Lane from Randolph County Economic Development Corporation (EDC). Bonnie Renfro told the Board that Stickley Fine Upholstery of Archdale is considering the purchase of vacant land located behind their current facility. This would allow the company to expand their 120,000 sq. ft. plant, consolidate off-site warehousing (currently a 40,000 sq. ft. facility, which they are leasing), and to provide adequate parking for their growing workforce. The company currently employs 197 workers, with $7,000,000 in annual payroll plus benefits. Ms. Renfro said that she and the company have worked through several site -related issues and the decision is now contingent upon a satisfactory solution to storm water drainage and funding assistance for any required transportation improvements on Archdale Road. NCDOT has evaluated the site and determined that turn lanes and a traffic signal would be required to issue a driveway permit for Stickley on Archdale Road at the intersection of Eden Terrace. The estimated cost is $190,0004200,000. NCDOT will consider assistance with 50% of the cost. If costs are lower, their funding assistance will not exceed 50% of the project cost. Ms. Renfro asked the Board to consider an equal share of $50,000 with the City of Archdale for the $100,000 local government share for the infrastructure. After discussion, the Board's consensus was to participate in the project. At 6:27 p.m., on motion of Kemp, seconded by Lanier, the Board voted unanimously to end closed session and return to regular session. Phil Kemp Arnold Lanier J. Harold Holmes, Chairman Stan Haywood Cheryl A. Ivey, Clerk to the Board