Title
Vote on a request to approve an Amendment to the contract between Chatham and the City of Sanford for the construction of waste water infrastructure to the Moncure area and mega site.
Abstract
Action Requested: Vote on a request to approve an Amendment to the contract between Chatham and the City of Sanford for the construction of waste water infrastructure to the Moncure area and mega site.
Introduction & Background: Chatham County and the City of Sanford entered an Interlocal Agreement in 2017 to cooperatively construct a waste water force main from the Moncure Mega Site to the Sanford wastewater treatment plant. The cost of the design and construction of this project was to be partially funded through a grant from the Golden LEAF Foundation with Sanford and Chatham to jointly funding the remaining cost of the project from preliminary engineering through completion of the construction of the needed wastewater infrastructure. Upon receipt of the bids, the cost of the project exceeded the previously agreed upon budget.
Discussion & Analysis: The Parties are interested in amending the 2017 Agreement to state that Sanford will pay the additional cost for construction of the force main to provide wastewater service to the Moncure area and mega site. This amendment provides that twenty percent (20%) of the net ad valorum tax revenue received by Chatham from any and all commercial and industrial properties served by the waste water collection and treatment infrastructure constructed by Sanford pursuant to the
2017 Agreement and any extensions thereof. The term of this Amendment shall be 50 years.
How does this relate to the Comprehensive Plan: Support and enhance the ability to recruit businesses and provide infrastructure to support desired development and support economic and environmental objectives.
Budgetary Impact: 20% share of the net ad valorum tax revenue
Recommendation: Vote to approve an Amendment to the contract.