This project consists of four counties which combined their efforts to acquire, develop and market one large acreage business park in each county, with the four business parks totaling over 2,500 acres combined. Our team evaluated all sites as to feasibility and marketability; certified all of the sites to NC Department of Commerce standards; formed and obtained tax exempt status for a nonprofit corporation through which the counties combined their efforts, negotiated and drafted an interlocal agreement among the counties and nonprofit; and negotiated the acquisition of all the sites. All but one site was acquired with no cash being paid up-front through an equity participation agreement. Through special state legislation, all four business parks have the most favorable treatment for state incentives.
