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8 <br /> WHEREAS, the Association has proposed the development of a Triangle <br /> Community Activity Center (the "Activity Center") to be located at The <br /> Meadowlands on Highway 70 Business, just east of Hillsborough; and <br /> WHEREAS, the Activity Center would include a full-size ice rink, an <br /> olympic size swimming pool (the "Pool") , and communal rooms and equipment to <br /> provide fitness classes and spaces for local clubs and organizations to meet; <br /> and <br /> WHEREAS, the Association has presented a business plan prepared by the <br /> North Carolina Small Business and Technology Development Center establishing <br /> that, based on the assumptions and projections set forth therein, such an <br /> Activity Center is economically viable; and <br /> WHEREAS, the Orange County Board of Commissioners (the "Board") has <br /> established a reserve fund for the construction of a public swimming pool <br /> facility in the Hillsborough area as part of the County's 1992-1997 capital <br /> improvement plans; and <br /> WHEREAS, the Association has proposed the financing of the entire <br /> Activity Center through a financing pursuant to the provisions of Internal <br /> Revenue Service Revenue Proclamation 63-20, under which a non-profit <br /> corporation may, under the guidelines set forth therein, finance construction <br /> of a public facility through a tax-exempt financing; and <br /> WHEREAS, through the proposed 1163-20" financing, the Association would <br /> be permitted to issue tax-exempt obligations to finance construction of the <br /> Center, including the Pool, which would result in the development of a public <br /> pool at a cost similar to the cost of public pool if the County were to <br /> finance and construct the Pool itself; and <br /> WHEREAS, the Board recognizes the public need for the Pool, is <br /> interested in agreements that will enable the Pool to be constructed and <br /> operated for the benefit of the public, and further, the County would agree <br /> to assist financially in enabling such a Pool to be constructed and operated. <br /> NOW, THEREFORE, BE IT RESOLVED that: the County Manager and County <br /> Finance Director are hereby authorized and directed to proceed with <br /> negotiations with the Association and Municipal Financial Group exclusive as <br /> placement agent per the financing proposal dated July 23, 1993 for financing <br /> and development of the Pool. <br /> VOTE: AYES, 4; NOS, 1 (Commissioner Gordon) <br /> C. TORNADO UNMET NEEDS COMMITTEE REPORT <br /> Albert Kittrell presented an overview of the various human service <br /> activities that were coordinated and implemented in response to the November <br /> 1992 tornado that struck Hillsborough. There were two fatalities, 14 reported <br /> injuries and structural damages estimated at $1,953 , 000. In an effort to <br /> provide the necessary assistance to those persons affected by the tornado, the <br /> Manager's Office established an "Unmet Needs Committee" . They were <br /> responsible for the overall coordination of relief efforts both immediate and <br /> long-term. Commissioner Halkiotis asked about the status of getting <br /> emergency generators for the two high schools. <br /> VIII. ITEMS FOR DECISION - REGULAR AGENDA <br /> A. ORANGE COUNTY ZONING ATLAS AMENDMENT - Z-2-93 LAKE HOGAN FARM <br /> Mary Willis presented a rezoning request for property owned by <br /> Lake Hogan Farm, Inc. The area proposed to be rezoned is located on the east <br />