Title
Resolution Authorizing a Reimbursement of up to $624,120.00 to Samet Corporation for the Design and Construction of Public Sewer Infrastructure Improvements to Facilitate the Industrial Development of a Site Located at 2335 Campground Road
Body
Department: Executive
Council District: 2
Public Hearing: April 17, 2018
Advertising Date/By: April 5, 2018
Contact 1 and Phone: Barbara Harris, Assistant City Manager - City of Greensboro- 373-2002
Contact 2 and Phone: Kathi Dubel, Manager -Economic Development & Business Support - 373-4579
PURPOSE:
The City of Greensboro has been requested to consider an economic development reimbursable grant in the amount of up to $624,120.00 to Samet Corporation for the reimbursement of public sewer infrastructure improvements to facilitate the industrial development of sites located at 2335 Campground Road. The grant is for the purpose of creating jobs and bringing new industrial development opportunities to east Greensboro.
BACKGROUND:
Samet Corporation has been working toward industrial development of property located at 2335 Campground Road, an ideally located, highly visible, 38 acre industrial development site, located inside of the urban loop, at the southern intersection of Business 85, Interstate 85, Interstate 73 and less than a mile from US 220. This site highlights the logistical benefit our community provides and stands as the front door to the City limits for anyone entering Greensboro from the south. The company has committed to preparing this site for construction of a 120,000 sf speculative building to attract a distribution/manufacturing company, with an anticipated cost of approximately $5 million with completion by year end 2018. The site will support another 100,000 sf building. The company will invest approximately $10 million in developing the site and construction of two buildings. Reimbursement of off-site sewer expenses will be significantly more beneficial to this project than the Shov...
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