Proposed Public-Private Economic Development Partnership Beaufort County Board of Commissioners and Beaufort County Committee of 100 | Eastern North Carolina Now

Press Release:

    On April 3, 2017 at 5:30P, or soon thereafter, the Beaufort County Board of Commissioners (County) will hold a public hearing to receive public comments on a proposed public-private economic development partnership with the Beaufort County Committee of 100 (C-100). The purpose of the partnership is to develop and construct an industry-ready building on lot #2 in the Washington-Beaufort County Industrial Park (Park) in order to increase business prospects in the Park. The County proposes to sell Lot #2 to the C-100 at fair market value. The County further proposes to provide a maximum of $116,000 in funding for economic development activities authorized under NC General Statute 158-7.1 for this project.

    The maximum County contribution for economic development expenditures under this project will be no more than $35,000 in any one fiscal year. The C-100 will contribute funding and will obtain and guarantee a loan for development and construction of the industry-ready building. The County will not participate in and will have no liability for this loan. The County and the C-100 will share in the profits of a sale or lease of the building based on their financial contribution percentages at that time. The County intends to use general fund revenues as its source of funding for this project.

• Contact: Katie M. Mosher
•     Katie.Mosher@co.beaufort.nc.us