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$4 million. At that time, they proposed a future Phase 2, which is the basis of their current grant request. <br />The Phase 2 investment in additional flight simulation equipment totals approximately $8 million, as <br />anticipated in 2008. Investment planned is in personal property. No investment is proposed in real <br />property. <br />"Because F1yRight is a lessee, they don't own their building," said Jeff Young, business and <br />neighborhood services director for Concord. "The policy did require the signing of a five year lease <br />between the lessee grant recipient and the city." <br />Concord City Council member recently asked if any local landlords had gone bankrupt after their tenant <br />received a grant, but the answer is that there haven't been. <br />Two other changes also were made to the policy. One strengthens language pertaining to job creation. <br />The other adds a provision to accommodate delays caused by valuation appeals that may necessitate <br />extending the time limit for a grant recipient to pay all applicable city taxes and receive all applicable <br />grant payments from the city. <br />Contact reporter Karen Cimino Wilson: 704 - 789 -9141. <br />Independent Tribune © Copyright 2011 Media General Communications Holdings, LLC. A Media General company. <br />Attachment number 1 <br />1 -1 Page 607 <br />