Wayne County amends Park East economic-development deal with Goldsboro; board approves after public hearing

The Wayne County Board of Commissioners on July 15 approved an amendment to the interlocal economic development agreement with the City of Goldsboro covering parcels at Park East Industrial Park.

County staff told the board the county reduced the sales price for a parcel by $2,539,800 as an upfront incentive to a company that will occupy a shell building on the site. Under the amended agreement, the city will forego its share of ad valorem tax proceeds attributable to that $2,539,800 reduction until the county has recouped its incentive through taxes and sales proceeds; county staff estimated that could take about six to seven years depending on how quickly improvements are made and assessed values rise.

Andrew (county staff) summarized the background: the county and the Wayne County Development Authority previously negotiated a reduced sales price tied to the company's commitments on jobs and capital investment. The county had asked the city to agree to delay its portion of tax splits for the one parcel where the county's construction of shell buildings represented part of the incentive package; the City of Goldsboro had already approved the change on its side, staff said.

No members of the public registered to speak during the hearing. After the presentation and brief discussion about timing and tax rolls, a commissioner moved to accept the amendment; the motion passed by a unanimous voice/hand vote.

The board recessed to closed session after the vote and returned to regular session to adjourn.