Title
Vote to adopt a resolution approving an amendment to an Interlocal Agreement between Chatham and the City of Sanford for the provision of water and wastewater infrastructure to the Chatham-Siler City Advanced Manufacturing Site (CAM Site) area
Abstract
Introduction & Background: Chatham County and the Town of Siler City, along with developers, have been working to improve the Chatham-Siler City Advanced Manufacturing Site for many years to recruit industry to help recruit industries to the area and provide economic development and job opportunities. Chatham County and the City of Sanford entered an Interlocal Agreement in 2017 to cooperatively construct a wastewater force main from Triangle Innovation Point (TIP Site) (formerly the Moncure Mega Site) to the Sanford wastewater treatment plant. That agreement was later amended in 2018 to provide that Sanford would receive twenty percent (20%) of the net incremental ad valorum tax revenue received by Chatham from any and all commercial and industrial properties served by the wastewater collection and treatment infrastructure constructed by Sanford. As a result of this partnership, Chatham County was able to secure the Vinfast project.
Discussion & Analysis:
This Amendment would be similar to the 2018 Amendment for the TIP Site and would provide that twenty percent (20%) of the net incremental ad valorum tax revenue received by Chatham from any and all commercial and industrial properties served by the wastewater collection and treatment infrastructure constructed by Sanford in the area of the CAM Site as identified on the attached map. This Amendment would be contingent on the merger of the utility systems of Siler City and Sanford (TriRiver Water). 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.
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