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` `;,CABARRUS <br />, <br />- -1 ECONOMIC DEVELOPMENT <br />~ ~• , , Caberrus County FY 2008 <br />ECONOMIC DEVELOPMENT PUBLIC INVESTOR AGREEMENT <br />This Agreement made and entered into this 1 st day of 7uly, 2007 by and between the County of <br />Cabarrus (hereafter called County), a subdivision of the State of North Cazolina, and Cabarrus <br />Economic Development Inc., a North Cazolina non-profit corporation {hereafter called the EDC). <br />WITNESSETH <br />THAT WHEREAS; County acknowledges that the EDC already provides "core economic <br />development services" as defined below to Cabarrus County to secure quality economic growth <br />in the private sector. "Quality economic growth" is defined as gowth that improves the <br />County's tax base, provides jobs at or above current Cabarrus County mean hourly wages for the <br />specific industries, enhances the quality of life and does not adversely affect the environment; <br />and <br />WHEREAS; the EDC has reqaested financial support to establish a more extensive marketing <br />and business recruitment program and that these funds be solely for the public good to further a <br />public purpose; and <br />WHEREAS; the services, goods and programs offered by the EDC constitute a public purpose <br />offered to benefit the citizens and residents of Caburus County; and <br />WHEREAS; the County desires that funds be appropriated to the EDC so that it may provide the <br />services, goods and programs stated below; <br />NOW THEREFORE; for and in consideration of the sum of up to $36,500 per month to be paid <br />by the County as described below, the EDC agrees to provide the following services to the <br />County. <br />~~,~ <br />