The Franklin Town Council declared its intent to make an economic grant in the form of approximately one acre of land to a business concern that has been code-named Project Wayah. The council went into a closed session at 6:00 pm to discuss the grant and came back into open session at 7:15 pm and passed a resolution (a transcribed copy of which is below) by a vote of 5-1 (Culpepper voting against). A copy of the petition to the town council at the behest of the business concern has also been transcribed by Macon Media and posted below.
A public hearing regarding this economic development grant has been scheduled for October 1, 2018, at 6:05 pm
A full video of this meeting is available. [LINK]
Project Wayah Video Segment
Transcribed Copy of Resolution
(Editor's Note: the grammar of the original document is retained; GS is replaced with NCGS)
RESOLUTION OF THE TOWN COUNCIL FOR THE TOWN OF FRANKLIN DECLARING ITS INTENT TO MAKE CERTAIN ECONOMIC DEVELOPMENT GRANTS
WHEREAS, intending to promote prosperity and the general welfare by increasing the population, taxable property, agricultural industries and business prospects of the Town of Franklin, the Board of Aldermen duly adopted economic development grants guidelines at its regular meeting of June 7, 2010;
WHEREAS, pursuant to NCGS § 158-7.1, the Town is authorized to make grants and conveyances of real property in furtherance of the purposes of economic development and to aid the and encourage the location and expansion of manufacturing enterprises, making industrial surveys, and locating industrial and economic plants in or near the Town's corporate limits;
WHEREAS, the Town Council has now been petitioned to make an economic development grant in the form of approximately one (1) acre of Town-owned real property to be clearly defined at a later date (the "Economic Development Grant"), to be used by Project Wayah a business concern to be identified by the Town at a later date;
WHEREAS, the Town Council is informed that the Economic Development Grant is necessary to permit Project Wayah to locate within the Town of Franklin, and without the same Project Wayah will choose to locate in another city and state at.d
WHEREAS, the Town of Franklin finds that the making of the Economic Development Grant will increase the population, the taxable property, and the business prospects of the Town of Franklin.
NOW, THEREFOR BE IT RESOLVED by the Town Council for the Town of Franklin, the following:
Section 1. The Town Council intends to enter into an Economic Development Agreement with Project Wayah, in accordance with the requirements of NCGS § 158-7.1 and any other applicable law, by which the Town of Franklin would convey the Economic Development Grant to Project Wayah.
Section 2. A public hearing shall be held at the regular Town Council meeting on October 1, 2018, at 6:05 pm, at which time the Town Council will consider granting final approval of conveyance of the Economic Development Grant.
Section 3. The Town Clerk is directed to publicize a notice of the public hearing in The Franklin Press and on the Town's website, for two consecutive weeks prior to the public hearing.
Adopted at the regular meeting of the Town Council, this 21st day of August 2018, upon motion by Council Member __________, seconded by Council Member ________, and passed by a vote of 5 in favor and 1 against.
Copy of Petition to the Town of Franklin
(Editor's Note: the grammar of the original document is retained; GS is replaced with NCGS)
August 22, 2018
Project Wayah (Code Name)
Franklin, NC 28734
Re: Request for Economic Development Grant from Town of Franklin by Project Wayah
Dear Sirs:
Project Wayah, a business concern to be identified by the Town of Franklin at a later date, has requested an Economic Development Grant from the Town of Franklin. In connection with your Economic Development Request, the following was represented and related unto the Town of Franklin:
A. That Project Wayah will make a capital investment of $3,000,000 (of which $1,500,000 will be in the form of improvements to real property and $1,500.000 will be in the form of tangible personal property) during the year 2018;
B. That Project Wayah will make a capital investment of $2,000,000 (of which $500,000 will be in the form of improvements to real property and $1,500,000 will be in the form of tangible personal property) during the year 2019;
C. That Project Wayah will hire an additional 23 employees in Franklin, North Carolina, for a total of 105 employees in Franklin, North Carolina, during the year 2019;
D. That Project Wayah will hire an additional 10 employees in Franklin, North Carolina, for a total of 115 employees in Franklin, North Carolina, during the year 2020;
E. That all such employees will be fully employed to at least 40 hours per week at an average wage of $46,509 per year, and that wages for all such employees shall be above the median wage for the Town of Franklin as listed annually by the North Carolina Department of Commerce Finance Center;
F. That Project Wayah shall provide health insurance and other benefits to all said employees at a level commensurate with other Franklin, North Carolina businesses;
G. That Project Wayah shall keep all such employees fully employed to at least 40 hours per week through and including at least 2024.
Based upon these representations, and a determination made by the Town Council of the Town of Franklin that the making of this Economic Development Grant set forth herein will increase the population of the Town of Franklin, the taxable property in the Town of Franklin and the business prospects of the Town of Franklin, the Town of Franklin is prepared to make an Economic Development Grant to Project Wayah in accordance with the following terms and conditions:
A. Convey to Project Wayah or its assigns, a parcel of real property consisting of approximately one (1) acre, said property to be identified and described at a later date, and pursuant to terms to be formalized by the Economic Development Agreement referenced below, and secured by way of a note and deed of trust against the real property to be conveyed.
B. This Economic Development Grant is to be made expressly subject to the following conditions:
1. Project Wayah must enter into an Economic Development Agreement with the Town of Franklin, North Carolina, in accordance with the provisions of NCGS § 158-7.1 which is wholly satisfactory unto the Town of Franklin, North Carolina;
2. The real property to be conveyed pursuant to the Economic Development Agreement will be valued at $115,878 per acre for the purposes of the Agreement and compliance with NCGS § 158-7.1 and other applicable law and
3. Project Wayah must fully account for all expenditures at the end of each fiscal year for which such expenditures were appropriated.
Very truly yours,
Summer Woodard, Town Manager
Town of Franklin
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Published at 8:15 am on August 22, 2018
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