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8 <br />DEVELOPMENT OF A SOLAR CLUSTER IN ORANGE COUNTY April 13, 2009 <br />Orange County Economic Development Commission <br />overly dependent on residential property taxes. The need is to encourage strategically <br />targeted economic development ideas." As noted in the Comprehensive Plan, 86% of the <br />2005 tax base was from residential property. As presented in Figure 1, property taxes in <br />Orange County make up a large percentage of the Counry's revenue. To achieve a more <br />equitable distribution of the County's tax burden, it is vital to cultivate and expand the <br />business community in Orange County. <br />Misc~taneo <br />429°ln <br />Investment <br />E~nings <br />4.s~~ <br />Licenses ~ <br />Permits <br />4.17% <br />S~ <br />11! <br />utsfers from <br />fherFunds <br />1.95°!a <br />Property Taxes <br />59.48% <br />Figure 1-General Fund Revenues by Category (FY2007-2008) (From Orange County 2030 <br />Comprehensive Plan, November 18, 2008) <br />However, due to relatively high land costs, the perception of Orange County as a <br />difficult place to do business, a vocal community that desires to preserve the County's <br />rural character, and a general lack of readily available business properties and buildable <br />sites, it has been challenging to develop a healthy and diverse business economy. These <br />challenges will need to be addressed in a successful strategy to attract new businesses. <br />For EDC use only 2 <br />Ch~aes far Intergovernmental <br />