City of Rock Hill - File #: 09-0313

• File #: 09-0313
• Version: 1
• Type: Recommendation
• Status: Passed
• File created: 10/21/2009
• In control: City Council
• On agenda: 10/26/2009
• Final action: 10/26/2009
• Title: Consider Infrastructure Reimbursement Agreement between the City of Rock Hill and Action Stainless & Alloys, Inc. (Strategic Goal: attract high quality jobs and businesses to Rock Hill, particularly manufacturing, corporate offices and distribution facilities and develop and implement incentive programs to support private investments that aid in the achievement of the City’s economic and community development goals.)

Date	Ver.	Action By	Action	Result
10/26/2009	1	City Council

Title

Consider Infrastructure Reimbursement Agreement between the City of Rock Hill and Action Stainless & Alloys, Inc.

(Strategic Goal: attract high quality jobs and businesses to Rock Hill, particularly manufacturing, corporate offices and distribution facilities and develop and implement incentive programs to support private investments that aid in the achievement of the City’s economic and community development goals.)

Body

The Economic and Urban Development Department is recommending approval of the attached Infrastructure Reimbursement Agreement between the City of Rock Hill and Action Stainless & Alloys, Inc.  Through this agreement the City will reimburse certain costs incurred by the company in constructing the new facility.  The reimbursements will be made annually from property tax payments made by the company to the City.  The reimbursements are limited to no more than five years of City taxes to be paid by the company.  The Action Stainless & Alloys, Inc. opened their business on Hollis Lake Road in the spring of 2009 with an investment of nearly $3 million and brought 18 new jobs to Rock Hill paying at or above the average wage in York County.