Title
Approval of agreement with NC Department of Transportation and Tim's Farm and Forestry, LLC, agreement between Chatham County and Tim's Farm and Forestry, LLC for DOT contingency funding of transportation design services for the Chatham Advanced Manufacturing (CAM) Site, and an interlocal agreement with the Town of Siler City for mowing of the CAM site entrance and authorize the county attorney and county manager to negotiate and execute the agreements.
Abstract
Action Requested:
Approval of agreement with NC Department of Transportation and Tim's Farm and Forestry, LLC, agreement between Chatham County and Tim's Farm and Forestry, LLC for DOT contingency funding of transportation design services for the Chatham Advanced Manufacturing (CAM) Site, and an interlocal agreement with the Town of Siler City for mowing of the CAM site entrance and authorize the county attorney and county manager to negotiate and execute the agreements.
Introduction & Background:
NC DOT has contingency funding available through the Secretary of Transportation, Speaker of the House and President Pro Tem of the Senate. Each has agreed to allocate the 2018 funding for transportation service for CAM, a total of $750,000. Previously, the county entered into an option agreement with the developer under which the developer was required to reinvest the proceeds back into the site. DOT requires that the contingency funds flow through the county.
Discussion & Analysis:
The CAM site developer has already spent approximately $262,000 on transportation design services through a contract approved by NC DOT. These expenses are eligible for reimbursement from the contingency funds. However, the developer also used these expenses to justify investment of the option payment into the site. Therefore, we are proposing that the county allow the DOT contingency funds to reimburse the developer only if he agrees that these funds will be reinvested into the site, per the agreement. The County must approve and EDC will administer the reimbursement. Approximately, $150,000 will be available to reimburse the developer for additional improvements to the site and the remaining will be held by the county for expenses related to promoting the site and readying it for site visits. The interlocal with Siler City will allow the town to mow the US 64 entrance to the site on a regular basis and the agreement provides that the town can be reimbursed if a site visit necessitates the renting of equipment.
How does this relate to the Comprehensive Plan:
The comprehensive plan calls for the addition of 14,000 jobs by 2040 and for the county to increase its nonresidential tax base. The comp plan recognizes that attracting a large industry to the CAM site is one of the key ways these goals will be met.
Budgetary Impact:
The contract with Tim’s Farm and Forestry, LLC states that the county will not be required to reimburse the company any funds that are not first reimbursed by NC DOT, so there should be no budgetary impact on the county and should reduce the financial burden on EDC in preparing for site visits.
Recommendation:
Motion for approval of agreement with NC Department of Transportation and Tim's Farm and Forestry, LLC, agreement between Chatham County and Tim's Farm and Forestry, LLC for DOT contingency funding of transportation design services for the Chatham Advanced Manufacturing (CAM) Site, and an interlocal agreement with the Town of Siler City for mowing of the CAM site entrance and authorize the county attorney and county manager to negotiate and execute the agreements.