Oct & Nov 2004 - Laserfiche WebLink

Home Browse Search

Another alternative would be to participate in the improvement. If the building was purchased by someone other then you who is non co-operative and they do as little repair as possible to get some kind of revenue from the property. In some cases they still do not pay on the mortgage, taxes and try to get as much revenue as they can, and then they disappear. Here you have the opportunity to say, we are willing to pay $150,000.00 to $180,00.00 to have the building demolished if you agree in return you give us a twenty-foot strip to be able to widen the road in the future. Ms. Humes said that some of the local clubs would probably help with the funding for the beautification to make it an attractive site. Mr. Shaver said until Mr. Brewington has purchased the property these were just some of the options open to the Commission and he would not recommend they do anything at this time. Mr. Currens said the public heating on the Inclusion of Adams Property in the Economic Development District that was scheduled on November 22, 2004 will have to rescheduled. The Commission rescheduled the public hearing for Wednesday, December 8, 2004 at 7:00 P.M. at the Mooresville Town Hall. Next Ms. Humes said there was a project by the name of PacMoore that is considering the Davee site located on the east side of State Road 67 across from Poe's. This is a twenty-seven acre site with twenty-five acres is suitable for building. With the three million dollar investment on the building a ten-year real property tax abatement has been committed for consideration by the Mooresville Town Council. The ten-year tax abatement is estimated to save the company $261,694.00 over the ten-years. The Personal Property tax abatement calculated on a $4,500,000.00 investment is estimated to save the company $198,950.00 over ten-years. The infrastructures needed are a street to be constructed and dedicated on the fifty-foot easement, improvement to old State Road 67 and a railroad spur. They are asking if we would be willing to pay the cost of the retention pond. The retention pond will be built on private property, but that is something the redevelopment commission can do. It is estimated the cost for a one and one-half acre retention pond to accommodate a 100,000 sq. ft. facility will be approximately $50,000.00. They have asked the Davee's to lower their price or consider contract sale over a 3 to 5 years period. Chairman Nelson said this area was in TIF 2 and the funds are limited in that area. Ms. Humes said that the Davee's have agreed to sell the property for $575,000.00 and she can include the owner will consider selling on contract. This will leave the Redevelopment Commission out of considering in helping buy the land. Motion was made by Commissioner Ellis, second by Commissioner Haskins, that the Mooresville Redevelopment Commission will dedicate up to $50,000.00 to be invested in a retention pond and Storm Water Ordinance compliance issues for the site improvements on the PacMoore Site. Motion carded 4-0. There being no further business a motion to adjourn was made by Commissioner Nelson, second by Commissioner Ellis. Motion carded 4-0. The next meeting for the Mooresville Redevelopment Commission will be December 8, 2005 at 7:00 P.M. at the Mooresville Town Hall.