STATE OF NORTH CAROLINA
COUNTY OF YANCEY
NOTICE OF PUBLIC HEARING
To Consider Economic Development Incentives for Project Oaks in Yancey County
NOTICE IS hereby given by Yancey County that, pursuant to the provisions of NC Gen. Stat. 158-7.1, the Yancey County Board of County Commissioners will hold a public hearing on 13 September 2021 at 6:00 o’clock p.m. in the courtroom of the Yancey County Courthouse in Burnsville, North Carolina, on a proposal to appropriate and expend county funds for an economic development project to aid and encourage Project Oaks to locate its commercial hospitality and service industry operations in Yancey County, North Carolina.
The Yancey County Board of County Commissioners is considering entering into an economic development incentive agreement with Project Oaks in a proposed amount not to exceed $100,218.30 from available revenues to be paid in annual installments over a period of five (5) years.
This economic development incentive will be based upon, and contingent upon, (a) a capital investment being made by Project Oaks of not less than $4,772,300 in additional real estate improvements new personal property investment, and (b) the creation of 42 new jobs over a two-year period.
The Yancey County Board of County Commissioners believes that the foregoing economic development incentive grant will stimulate the local economy, increase the County tax base and revenues, result in the creation of new and permanent jobs in the County, diversify the County economy, and promote the general welfare of the County and its citizens. All persons interested in this incentive are invited to attend this public hearing and present their views.
This the 18th day of August 2021.
Sonya Morgan, Clerk to the Board of County
Commissioners for Yancey County