Agenda - 10-20-2009 - 5a - Laserfiche WebLink

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D been sized to produce approximately 250,000 lbs of Tilapia on an annual basis. Potential expansion plans includes harvesting the liquid and solid by-products of the aquaculture process as a natural source of plant food and development of a hydroponics greenhouse with nutrients supplied by the aquaculture waste products. Construction of the facility required installation two wells and a septic system and installation of a 3-phase electric power source down Lonesome Road to the facility. The availability of 3-phase power may encourage additional commercial endeavors in the immediate area. A revised assessment of the vahie of the improvements was conducted August 2009 and is estimated at $193,7b2 for the year 2010. An assessed value of $97,502 for the year 2009 reflects partial completion. At peak production, gross annual receipts are anticipated to be approximately $500,000. Proicct Specifics The Taylor Fish Farm meets the stated requirements provided in the `Utility Extension Fund Procedures' (Orange County, December 21, 1993) for receipt of reimbursement from the Fund as follows: • The Project must have the proper zoning at the proposed site: The property is currently zoned AR (Agricultural Residential) which allows for a commercial feeder operation. • The project »urst improve job opportunities available to Orange Corazty citizens, especially for women art~l rninorrties: The constivction plans for the aquacultuee facility originally called for were revised to focus on the residents of Orange County (see Attachment B - article from July 15, 2009 Herald-Sun). Taylor Fish Farm currently employs 3 permanent full time workers, and 1 part time worker. An estimated 5 seasonal workers that will be employed during the harvesting cycle, which will occur every six weeks. • The project rrrrrst provr~le jobs with wage scales ire compliance with Orange Corrrrt)~ starulards: The current living wage in Orange County is $10.12 per hour; all cui7ent employees of Taylor Fish Farm receive wages in excess of the current living wage. • The project must have a positive fiscal impact upon Orange County goven~ment: The revised property tax assessment completed in August 2009 documents that the project improvements have increased the property value form $5,916 to $193,7b2, resulting in a projected net increase in property taxes of approximately $9,447 over five years of full scale operation. A fiscal impact analysis is included as Attachment C. Recommendations It is recommended that the EDC review the request from Taylor Fish Farm for partial reimbursement of funds expended to bring the water, sewer and electric services necessary to establish their state of the art aquaculture facility under the Utility Fund Extension Procedures, and support a reimbursement of incurred costs in the amount of $9,447, which is the sun of expected additional property taxes from five full years of facility operations. Once a decision is made, the request will be presented to the Board of County Commissioners for their decision Attachment A: Orange County Utility Fund Extension Procedures (12-21-93) Attachment B: July i5, 2009 Herald-Sun article on Taylor Fish Farm Attachment C: Projected payback estimate