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1021 February 7, 2012 PacMoore—SB-1 Request On January 16'h an SB-1 request was submitted for consideration and is before us this evening. I have several concerns regarding this request. #1—the previous SB-1 request from May 2011 has still not been met regarding the number of employees that were promised by the Corporation. PacMoore is still 15 employees short of the promised 100 employees as stated on the SB-1. I find it very hard to believe those 15 employees cannot be found in the local economy. It depends upon the skill level that PacMoore is anticipating; whether it is unskilled,semi-skilled or skilled. Even so, surely some of those 15 vacancies could be filled with our local residents. #2—I requested and received additional information from PacMoore regarding the total number of employees it currently employs;whether they are part or full time and if they advertise locally for potential employees. In addition, I requested the number of employees that maintained a Mooresville addresses from the total number they currently employ. PacMoore provided that information and I appreciate receiving that information. This information will help in making an informed decision in voting for this current tax abatement. The percentages of Morgan County employees versus Marion County employees are very discerning. The percentage of employees from Marion County is greater than those from Morgan County by twice as much, according to the figures provided by PacMoore. Since the tax abatement funds that will be provided to PacMoore have to be made up by Morgan County residents,those figures are most disturbing to me. #3—Advertising locally—you indicated you had not advertised for workers locally for the past year. I recommended/suggested that you contact Work One in Martinsville to see if they could help in that aspect. The worksheet you're provided attached to the SB-1 shows with the tax abatement granted you will pay net taxes over the 10 year period of$352,146. Without the tax abatement you will pay net tax of$697,320 over the 10 year period. I verified these figures with the Morgan County Assessor and they are correct. I would like to see as much of those$352,146 property taxes that would be abated and have to be made up by our local residents,come back into our local economy in.the form of jobs. This will help elevate the loss of revenue that will occur as a result of the tax abatement that has-been requested. Please do not construe this objection as my not being in favor of tax abatements. I know that in order for Mooresville to grow we need to encourage businesses to come to the Mooresville area; part of that invitation is the promise of tax abatements. We do need to have companies fulfill their contract in the form of the SB-1 to make sure the taxpayers are receiving something in return for the taxes abated. A motion was made by Councilman Langley with a second by Councilman Mathis to approve Declaratory Resolution 1, 2012,PacMoore 10 year abatement. Motion carried 4-1,.Councilwoman Perry opposed. The Confirmatory Resolution Public Hearing is set for Tuesday, February 21, 2012, at 6:30 P. M. Next,pay request#1 from Reed and Sons Construction, Inc. in amount of$84,063.34 for the Merriman Road project. Councilman Mathis reported there had been an escrow account set up with Chicago Title by Brooknook Farms in the amount of$100,000.00. This pay request will go to Chicago Title to release escrow funds for payment. A motion was made by Councilman Mathis with a second by Councilwoman Perry to approve. Motion carried 5-0. A motion was made by Councilwoman Perry with a second by Councilman Langley to approve the transfers to clean up accounts that were in the negative at year end. Motion carried 5-0. Legal: A motion was made by Councilman Langley with a second by Councilman Cook to approve the EDIT Plan for 2012. Motion carried 5-0.