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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: May 18, 2010 <br />Action Agenda , <br />Item No. r~-- - I <br />SUBJECT: Business Plan for the Piedmont Food and A ricultural Processin Center <br />DEPARTMENT: Economic Development PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): <br />Business Plan (Under Separate Cover) <br />INFORMATION CONTACT: <br />Noah Ranells, 245-2330 <br />Brad Broadwell, EDC Director, 245-2325 <br />PURPOSE: To receive the business plan for the Piedmont Food & Agricultural Processing <br />Center. <br />BACKGROUND: Beginning with an Agricultural Center Work Group in 2004, Orange County <br />has examined and developed the concept of a regional value-added, shared use food and <br />agricultural processing facility. This business plan is the guiding document for the Piedmont <br />Food & Agricultural Processing Center for the establishment phase and first three years of <br />operations. <br />A draft annual budget for the Piedmont Food and Agricultural Processing Center was prepared <br />and is included in this packet. Based on 110 hours of kitchen lease and other revenue, the <br />Piedmont Food and Agricultural Processing Center is projected to be financially independent <br />with regard to operations in the first year following establishment. Grant funds of $1,127,319 <br />have already been committed to the project from a variety of local, state, and federal sources. <br />Alamance, Chatham, Durham, and Orange Boards of County Commissioners have all approved <br />the Inter-Local Agreement that governs the initial establishment of the processing center. <br />FINANCIAL IMPACT: The financial impact of this business plan for the Orange County Budget <br />is related to the obligations in the Inter-Local Agreement that has already been reviewed by the <br />BOCC. It is expected that Economic Development and Cooperative Extension staff will remain <br />engaged in the processing center. <br />RECOMMENDATION(S): The Manager recommends the Board receive the business plan and <br />authorize staff to continue with the establishment of the Piedmont Food & Agricultural <br />Processing Center and include this project in budget discussions. <br />