Board approves incentive package to pursue proposed Falls Lake industrial park by Trinity Capital
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Summary
The Granville County Board of Commissioners authorized staff to finalize a 65% tax‑value incentive over five years per phase for a proposed Trinity Capital industrial park in Butner, a project that would add five speculative buildings totaling about 1.1 million square feet and carry an estimated $5.9 million of off‑site infrastructure paid by the developer.
The Granville County Board of Commissioners moved to authorize the county manager and county attorney to finalize an economic‑development incentive package for Trinity Capital’s proposed Falls Lake Industrial Park, following a public hearing and a presentation from county economic staff and Trinity representatives.
Economic Development Director Charlotte Duncan said the project under consideration is roughly 157 acres at 1613 I‑85 Service Road in Butner, annexed and rezoned by the town on July 2, 2025. Trinity Capital is proposing five buildings totaling approximately 1,097,180 square feet with an estimated $53.6 million in building hard costs; phase 1 (two buildings) is estimated at about $18 million and phase 2 (three additional buildings) at roughly $35.4 million. Duncan also described off‑site infrastructure investments — primarily water and wastewater lines and some road work required by NCDOT — estimated at about $5.9 million to be funded by the developer and deeded to the local utility authority on completion.
The incentive described to the board is an economic development grant equal to 65% of the taxable value returned to the investor over five years for each phase, subject to a performance agreement, metrics and clawbacks. Duncan explained the mechanics: the company must build the project, the county assessor will determine taxable value and the county will appropriate grant payments in future budgets tied to performance milestones. "Trinity has not closed on the site," Duncan said; the incentive is intended to support the developer through due diligence and closing.
Commissioners asked about water and sewer capacity and the role of the South Granville Water and Sewer Authority (Saguasa) in approving allocations. County staff said Trinity completed a hydraulic analysis and has coordinated with the authority; Saguasa will need to approve any allocation request once engineering plans are complete.
After questions from commissioners and a period for public comment, a motion to authorize finalization and execution of an economic development incentive agreement with Trinity Capital carried by voice vote. County staff said the agreement will include performance metrics and clawback provisions and that the developer’s off‑site investments will enable water/wastewater connections for additional development along the I‑85 service road.
Next steps: county attorneys and the manager will finalize the incentive agreement and performance terms for the board’s records; the developer must complete due diligence and closing before construction begins.
