C030899Closed Session - March 8, 1999
At 3:47 p.m. the Board went into closed session to discuss matters relating to the location or
expansion of business in the area served by the Board, pursuant to NCGS 143-318.11(a)(4).
Commissioners Frye, Kemp, Holmes, Davis, and Mason were present. Also present were Frank
Willis, County Manager; Alice Dawson, Clerk to the Board; Alan Pugh, County Attorney; Aimee
Scotton, Staff Attorney; Bonnie Renfro, Randolph County Economic Development Corporation.
Toleram
Mrs. Renfro reported that the deal Toleram was working on previously with Shell Oil
Company did not work out. Now Toleram is looking for a new process because their market for the
old process is gone. They are proposing to invest around $10,000,000 for a new process of
manufacturing a polyester chip used in packaging soft drinks. They would retain current jobs and
create 4-6 new ones. They would need an additional rail spur ($125,000) and booster pump and
pump house ($55,000) for this new process. The City of Asheboro has agreed to fund half of the
$125,000 needed for the rail spur if the County will pay fund the other half. At the time Mrs. Renfro
met with the City, she was not aware of the need for the booster pump and pump house, so she will
have to go back to them to discuss this part of the request.
The Board discussed this request. On motion of Kemp, seconded by Holmes, the Board
agreed to commit to half the cost for the rail spur ($62,500) and booster pump and pump house
($27, 500), contingent on the City's paying half for both ($90, 000) and on Toleram 's commitment to
a $10,000,000 investment. However, before the County could enter into an agreement with
Asheboro and Toleram, the Board must approve this agreement in an open meeting.
Ramtex
Mrs. Renfro reported that Ramtex's project is on hold. They may buy new equipment and
put it in their existing plant in Ramseur. The owner of the Randleman property Ramtex was
considering has others interested in it. Mrs. Renfro stated that the Economic Development
Corporation would like to buy an option on the Randleman property, at a cost of $45,000, if the
County would cover EDC's budget loss from lost interest income on the $45,000.
The closed session ended at 4:23 p.m.
Darrell L. Frye, Chairman Phil Kemp
J. Harold Holmes
Robert O. Mason
Robert B. Davis
Alice D. Dawson