The Board got some good news from the Governor's office. County proceeds from the Education Lottery will not be withheld by the state so Mecklenburg County will get the full $14M it planned on. Budget Director Hyong Yi also reported a slight increase in sales tax revenues.
Business Investment Grant
The Board approved the County's participation in a business investment grant for $1.95 million over seven years to Time Warner Cable (TWC) for phase two of its investment in Mecklenburg County. Total city and county combined grant is $3 million. The grant represents 90 percent of new taxes TWC will pay as a result of $37 million investment adding 200 new jobs.
In 2003, the City and County awarded a $3 million Business Investment Grant to Time Warner for expanding its operation locally. The grant required the company to add 670 new jobs and invest $27.9 million. Since then, Time Warner has created more than 800 new jobs and invested in excess of $100 million.
First Ward Park
The Board received a revised framework for the development of a park in Charlotte's First Ward. This new framework would have the County exchange land with private owners in this area, then lease portions of two blocks so the County could develop and operate a County park.
However, this alternative approach for developing the park and funding its construction and operations requires changes in state law. Therefore, the Board also added an item to the state legislative agenda to address this matter.
The Board instructed staff to develop a plan for Board meetings to be paperless. Board members current receive all their agenda backup information in hard copy form. It could be distributed to them electronically soon.