City of Concord city Awards $743,453 Tax-Based Economic Development Grant Contract to Motorsport Ip Acquisition (February 2025)
City of Concord cityCity · Concord, NC- Disclosed value
- $743,453
- From minutes
- Approved
- Feb 13, 2025
- Term
- 3 years
The 30-second brief
City of Concord approves a three-year/85% tax-based economic development grant, valued at $743,453, to Motorsport IP Acquisition Co. I, LLC, supporting their new facility at 4295 Defender Way and 4540 Fortune Ave NW. The project involves a $75-$85 million investment in personal property for Cadillac F1 engine development.
Motorsport Ip Acquisition holds this tax-based economic development grant contract with City of Concord city. Its other public contracts on record include work for Housing Authority of the city of Concord and Town of Concord.
Term as filed: 3 years.
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Contract details
- Contract type
- Tax-Based Economic Development Grant
- Amount
- $743,453
- Document date
- February 13, 2025
- Term
- 3 years
- Agency
- City of Concord city
- Source document
- city-of-concord-city-council-meeting-minutes-february-13-2025_518.pdf (Minutes)
Motorsport Ip Acquisition's other public contracts
More City of Concord city contracts
Questions about this contract
Who was awarded the tax-based economic development grant contract by City of Concord city?
Motorsport Ip Acquisition was awarded this tax-based economic development grant contract by City of Concord city, as recorded on February 13, 2025. The contract value is $743,453.
How much is the Motorsport Ip Acquisition contract with City of Concord city worth?
The Motorsport Ip Acquisition contract with City of Concord city is valued at $743,453, covering tax-based economic development grant work.
What type of contract is this?
This is a Tax-Based Economic Development Grant contract, documented as a minutes record.
Where was this contract approved?
This contract appears in city-of-concord-city-council-meeting-minutes-february-13-2025_518.pdf (Minutes), dated February 13, 2025 from City of Concord city. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Motorsport Ip Acquisition hold?
Motorsport Ip Acquisition may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Concord city currently buying?
Explore City of Concord city's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.