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Agenda - 03-16-2010 - 7b
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Agenda - 03-16-2010 - 7b
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Last modified
3/12/2010 3:14:54 PM
Creation date
3/12/2010 3:14:52 PM
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BOCC
Date
3/16/2010
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
7B
Document Relationships
2010-146 ED - Interlocal Cooperation Agreement for Piedmont Food and Agricultural Processing Center
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Path:
\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\2010's\2010
Minutes 03-16-2010
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Path:
\Board of County Commissioners\Minutes - Approved\2010's\2010
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2 <br />E. Any of the four partner counties can withdraw from the agreement with one year <br />advance notice. If more than one partner county withdraws, the agreement shall <br />terminate. <br />FINANCIAL IMPACT: <br />1. Based on the 2007 Feasibility Report for Piedmont Food & Agricultural Processing <br />Center, the Center is projected to be self-sufficient in the second or third year of <br />operation. <br />2. Grant funds from the Tobacco Trust Fund provide for a full year of operational costs <br />($122,000). An estimated 143 hours of facility rental will yield $156,000, which would be <br />sufficient revenue to operate the Center. Revenues from Year 1 can create a reserve <br />fund for subsequent years. <br />3. If revenues do not meet the operating expenses, the Inter-local Agreement indicates <br />that upon justification of revenue shortfall, 40% of the revenue shortfall, not to exceed <br />$60,000 per year, will be charged to Orange County. This figure is based on a <br />maximum operating budget of $150,000. <br />RECOMMENDATION(S): The Manager recommends the Board approve the Inter-local <br />Agreement and authorize the Chair to sign on behalf of the Board. <br />
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