City has received no incentive request from Carroll

In order to qualify for the $1.1 million incentive approved by the Greensboro City Council in 2006, developer Roy Carroll must show that his company invested $35 million in the Center Pointe project before Dec. 31, 2008.

John Shoffner, the city's economic development manager, said the city has yet to receive a performance letter from Carroll. The city's contract with Carroll's company stipulates that once the developer proves that the investment has been made, the incentive will be paid out in five consecutive payments with the final payment made no later than Dec. 31, 2014. That means that to be on track to receive the full amount of the incentive, Carroll will have to submit the first request before the end of this year.

I chatted with Carroll during the last city council meeting on Jan. 5, but he declined to discuss the incentive agreement. I've also submitted a request for information to his spokeswoman, and am waiting for a response.

Construction took place in 2007 and 2008, and Center Pointe received its certificate of occupancy in 2009.

Shoffner told me that if Center Pointe didn't reach its $35 million investment target until 2009 or 2010, "then it would require city council action to waive that part of the requirement" for Carroll to receive any part of the incentive grant, but I admit I remain confused on how the city would verify that the money was spent by Dec. 31, 2008.