HOW MUCH DID AND WILL MOEN PAY SST Properties? In a Sun Journal article Sue Book said SST Properties is a Greensboro-based corporation that was founded Aug 14 2006 by Arthur L Samut. More about him HERE. He has registered 13 corporations with the NC Secretary of State dating back as far as 1995. Can’t these people create jobs without taxpayer support? Do you see why “crony Capitalism works against the taxpayer? The grant money and the discounts, a total of $822,000 was provided by the taxpayers hoping to gain 75 jobs paying an average of $619 per week. HIGH RISK WITH OTHER PEOPLES MONEY!
WATCHDOG REPORT- Craven County Board of Commissioners Meeting- 18 April 2016
CCTA advocates minimum government. This meeting shows that is not true of our Craven County Board of Commissioners. This was made absolutely certain by the actions of staff and Board Members when the agenda item “Departmental Matters: Economic Development – Budget Amendment” was taken up.
The Presenter was Timothy Downs, Craven County Economic Director. Mr. Downs simply stated that the first installment of the grant is due upon Moen’s full occupancy and operation of the new facility and that Moen will occupy and operate the new facility in April 2016. He requested that the money be moved from the Economic Development reserve account in order to pay the first installment of the performance grant to Moen.
Mr. Downs did state that conditions would be met. He did not say what they were nor how he knew they would be met this month. Maybe he had briefed Board Members privately, but not at the public meeting.
Nor did he mention that the amount of money to be received by Moen is $500,000! This can be seen at attachment #8 of the agenda. Nor did he mention that is the first installment on a $650,000 grant.
I checked those conditions. They are: SST Properties, LLC has obtained a non-temporary certificate of occupancy for the new facility, SST Properties, LLC has completed construction of the new facility, SST Properties has provided Moen with actual possession of the New Facility and Lots 13 & 14, and Moen has obtained all governmental licenses and approvals necessary to occupy and operate the new facility.
Article IV of this agreement states that Moen will fill at least 75 full-time equivalent positions within 180 days of the new facility delivery date. HOW MANY OF THESE JOBS WILL MERELY TRANSFER FROM THE KINSTON FACILITY? Read the entire agreement HERE.
AND WHO IS SST PROPERTIES, LLC.? It is the company that got the 21.5 acre tract FROM THE COUNTY at the bargain price of $258,000 when its stated value was $430,000 as an incentive to broker the deal with Moen.
Respectfully submitted,
Hal James
CCTA Watchdog Committee Chairman
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Coastal Carolina Taxpayers Association, Inc.
4807 Delft Drive Carolina Colours New Bern NC 28562 Phone (252) 649-0525
We are dedicated to the preservation of free enterprise and the United States Constitution. As such, we do not endorse or advocate for any political party or candidate.
Posts on our Blog and Website are often re-posted from other sites and are for informational purposes only. They should not be considered a political endorsement.
We consider ourselves to be Constitutional Conservatives and endeavor to promote those values and principles.
The tea party is not a political party and our identification and association with the tea party is strictly based on their similar beliefs and activities as a grassroots movement to uphold and support the Constitution of the United States. Among its goals are limiting the size of the federal government,
reducing government spending, lowering the national debt, and opposing tax increases.
We do promote and encourage these values which should not be confused with or construed as a political endorsement of a particular party.
The news items, blogs, educational materials and other information in our emails and on our website are only intended to provide information, news and commentary on events and issues. Much of this information is based upon media sources, such as the AP wire services, newspapers, magazines, books, online news blog and news services, and radio and television, which we deem to be reliable.
However, we have undertaken no independent investigation to verify the accuracy of the information reported by these media sources.
We therefore disclaim all liability for false or inaccurate information from these media sources.
We also disclaim all liability for the third-party information that may be accessed through the material referenced in our emails or posted on our website.
Coastal Carolina Taxpayers Association, Inc.
4807 Delft Drive Carolina Colours New Bern NC 28562 Phone (252) 649-0525