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-"O <br />CABARRUS <br />ECONOMIC D L V L L 0 P M E N T <br />PROJECT CURRENT OVERVIEW <br />Company's Name: Beacon Partners <br />Company Representative: Jon Morris <br />Contact Information: <br />Address: 610 East Morehead Street, Suite 250, Charlotte NC 28202 <br />Phone: 704 - 597 -7757 <br />Email: jon @beacondevelopment.com <br />Nature of Business: Real Estate Development Company <br />Proposed new or additional Cabarrus facility: Speculative Development; Proposed Location: RiverOaks <br />Corporate Center Park (intersection of Poplar Tent and Derita Roads) <br />Project Description: <br />Phase I — construct of two buildings, pre -grade one additional site, and installation of significant <br />infrastructure in the Park including private connector roads, storm water management ponds, and private <br />utilities. Phase I real property investment: $25,000,000. Phase I completed by September 30, 2016. <br />Phase II — construct at least two of the remaining three buildings planned for the Park. Phase II real <br />property investment: $28,000,000. Phase II completed by December 31, 2018. <br />Total Investment: $53,000,000 <br />Request of Cabarrus County Board of Commissioners: <br />Beacon is requesting that the Cabarrus County Board of Commissioners approve and provide upfront <br />funding for public infrastructure within the Park totaling $930,240. Beacon's development plan will repay <br />the County by the end of 2020 through increased property taxes paid. In the event that the minimum <br />capital investment of $53,000,000 of new real property investments are not made in accordance with the <br />timelines and dates, Beacon agrees to reimburse Cabarrus County by the end of 2020 for any outstanding <br />balance. <br />The infrastructure funding will include: <br />• +/- 1,070 linear feet of public roadway at a projected cost of $419,298 <br />• Public utilities and tie -ins at a projected cost of $310,942 <br />• 4 -way stoplight at the intersection of Derita Road and the new public road serving the Park at a cost of <br />$200,000 <br />Cabarrus Economic Development 3003 Dale Earnhardt Boulevard, Kannapolis, NC 28083 USA <br />704.782.4000 1 CabarrusEDC.com I Face Bo ( µ � Ik. j om /CabarrusEDC I Twitter.com /CabarrusEDC P <br />`" . {L��n clopmen. U.gauievtioo <br />