TITLE
Title
PUBLIC HEARING: NC DEPARTMENT OF COMMERCE RURAL BUILDING REUSE GRANT - GUERRILLA RF, INC./PROJECT AMPLIFY
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SPONSOR
Sponsor
J. Leslie Bell
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BACKGROUND
Background
During its June 3, 2021 regular meeting, the Guilford County Board of Commissioners (Board) adopted a resolution supporting the submission of an application to the NC Department of Commerce (Department) for a Rural Building Reuse Grant to assist Guerrilla RF, Inc. and the Koury Corporation in renovating a vacant building in Greensboro, NC (see attached). The Department has awarded the County a grant in an amount not to exceed $475,000 that will support the reuse of an approximately 58,970 sq. ft. building located at 2000 Pisgah Church Road, Greensboro, NC. The building was constructed in 1981 and has been vacant for two (2) years. Guerrilla RF, Inc. is a wireless semiconductor company that provides monolithic microwave integrated circuits for the automotive, 5G Infrastructure, and cellular booster markets.
The Board is being requested to:
1) conduct a public hearing to receive public input regarding this grant funding;
2) approve this Building Reuse Grant in an amount not to exceed $475,000; and
3) authorize the County Manager (in lieu of the Chair of Board of County Commissioners), following approval of said grant, to sign all NC Dept. of Commerce required close-out documents.
If approved, this grant would be distributed in the form of pass-through funding as a loan to the property owner, Koury Corporation. The loan would be fully forgivable upon achieving the following requirements: satisfactory reporting and documentation of payment of eligible upfit/renovation expense invoices; creation of and maintaining for six (6) consecutive months fifty (50) new full-time jobs (a full-time job is defined as employment of at least thirty-five hours per week and eligibility for all benefits generally available to the c...
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