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At its regularly scheduled meeting on November 6, the Sanford City Council agreed to amend its interlocal agreement with Chatham County to establish how the governments will share costs and divide revenue for the Moncure Megasite.
Located near the intersection of Old U.S. 1 and U.S. 1, the 2,500-acre North Carolina Certified Site is a cooperative endeavor between the City of Sanford and Chatham County. It is expected to serve as an economic development catalyst that will benefit Chatham, Harnett, Lee, and Wake counties, the central Carolina region, and the state as a whole.
On October 16, the Sanford City Council awarded approximately $12 million in construction contracts to extend the City of Sanford’s wastewater collection system to the site. “With this investment in sewer, the Moncure Megasite will be the most ready and quickest to the market of all sites in the Southeastern United States and the Carolina Core,” said Sanford Mayor Chet Mann.
Under the amended 50-year agreement, Chatham County will pay Sanford approximately $3.5 million toward sewer construction costs. The County will also share a portion of property tax revenue it receives from all commercial and industrial properties served by the City’s wastewater system.
The Moncure Megasite has also benefitted from a $4 million Golden LEAF Foundation grant awarded to the City of Sanford to support sewer infrastructure. The grant was part of the foundation’s Major Site Development Initiative, which aims to make North Carolina megasites more competitive by investing in the infrastructure necessary to appeal to original equipment manufacturers (OEMs).
Construction is set to begin this year. The megasite is anticipated to be online and ready for major manufacturers looking to build a state-of-the-art production facility by the end of 2019.
Learn more about the Moncure Megasite.