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V!~ Toby Do'len Z/~-~ Eric Shields ATTEST: . Sandra R.~Perry, Clerk-Treasurer May 18, 2004 The Mooresville Town Council met in regular session on Tuesday, May 18, 2004 at 6:30 P. M. at the Mooresville Town Hall. Council members present were: President Tom Warthen, Troy Bryant, John L. Clark, Toby Dolen, and Eric Shields. No members were absent. Town attorney Tim Currens was present. A motion was made by Councilman Clark with a second by Councilman Shields to approve the minutes of the May 5, 2004 meeting. Motion carried 5-0. First on the agenda Helen Humes introduced Roger Wathen and Mark Angermeier, co- owners of Capital Adhesives, requesting tax abatement on real and personal property. The Redevelopment Commission voted this abatement would not adversely affect the TIF District. The Declaratory Resolution had been passed earlier and this was the hearing for the Confirmatory Resolution. Capital Adhesives had moved to Mooresville in 1997 and have continued to grow each year. They now need more room for warehousing finished and raw goods, an expansion in the manufacturing area will allow for a safer environment, and they wish to update the infrastructure, computer technology systems, because they want to eliminate a lot of paper. They also resell materials. They will need to add some employees. In 1997 they began with eleven employees and they now have twenty-one employees. Sunco will do the construction of the building, as they were the lowest of four bids. On the matrix they qualify for a six year tax abatement on real property and a five year tax abatement on personal property. A motion was made by Councilman Clark with a second by Councilman Dolen to approve Confirmatory Resolution #6, 2004. Motion carried 5-0. J Angela Harter was not present. She had requested"permission to obtain an exit from Sugarberry Ct. to the Fox property. Councilman Bryant said,he thought the stubbed out section was for a future street and not a private drive. This will be on the agenda for June 1, 2004 and she will be notified to appear. Town covNCa,