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County briefed on incentive offers, grant closeouts and park lease; staff to return with agreements
Summary
At the April 21 briefing staff summarized proposed incentive packages for two prospect companies (Project Beaver and Project Renaissance), a building reuse grant closeout and refund, a final payment amendment for Frank L. Bloom Construction, a transfer of airport funds to support tower rehab, and a proposed Tanglewood Park lease for soft golf.
Forsyth County staff used the April 21 briefing to outline several economic development and finance items ahead of formal action at the April 24 meeting.
Economic incentives (Project Beaver and Project Renaissance) - Project Renaissance: Proposed $15 million capital investment over five years, 42 new jobs with an average annual wage of $63,000. Staff proposed a five‑year incentive not to exceed $143,165; over ten years the project is estimated to generate $508,000 in new county tax revenue, of which the county would retain an estimated 72%. - Project Beaver: Proposed $31 million capital investment over five years, 28 new jobs with an average annual wage of $47,000. Staff proposed a five‑year incentive not to exceed $291,183; over ten years the project is estimated to generate $1.392 million in new taxes, of which the county would retain about 79%. - Staff noted both projects are seeking city incentive packages and state grant funds and face…
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