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File #: 2020-380    Version: 1 Name:
Type: Miscellaneous Item Status: Approved
File created: 9/30/2020 In control: City Council
On agenda: 10/5/2020 Final action: 10/7/2020
Title: Public Hearing - DC Blox - EDC Performance Based Incentives City Council is requested to authorize performance-based incentives for the DC Blox data center project equal to up to 50% of the property taxes already paid in a year - for a period of from 10 to 17 years; and authorize the City Manager to execute a performance agreement with the company containing benchmarks for the company to achieve and a schedule for the payment of such financial incentives.
Attachments: 1. 6. DC Blox performance-based incentives public hearing, 2. DC Blox -- staff remarks at High Point City Council public hearing, October 5, 2020.pdf, 3. DC Blox slide presentation at High Point public hearing.pdf

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Public Hearing - DC Blox - EDC Performance Based Incentives

City Council is requested to authorize performance-based incentives for the DC Blox data center project equal to up to 50% of the property taxes already paid in a year - for a period of from 10 to 17 years; and authorize the City Manager to execute a performance agreement with the company containing benchmarks for the company to achieve and a schedule for the payment of such financial incentives.

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