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22 <br /> 1 Department of Commerce Site Certification are critical path elements, much of this investment <br /> 2 also will be under the auspices of the Planning Department. Although the EDC's extended <br /> 3 budget estimates the general magnitude of the investment required, to many unknowns exist to <br /> 4 set expectations for a firm figure. <br /> 5 <br /> 6 FY 10-11 thru FY15-16 <br /> 7 Estimated Economic Development Department <br /> 8 Places <br /> 9 •Estimate for Buckhorn EDD ($4,400,0000) <br /> 10 •Eno EDD Engineering and Build-Out (TBD) <br /> 11 •NC Department of Commerce Site Certification (TBD) <br /> 12 <br /> 13 Tools <br /> 14 - Business retention, recruitment, and loan funds ($2,000,000) <br /> 15 - Completion/implementation of County Unified Development Ordinance (TBD) <br /> 16 � <br /> 17 Knowledge ' <br /> 18 - RTRP Dues, Intra-County Collaboration Events, Focused Research, and Strategic <br /> 19 Planning 300 000 <br /> 20 <br /> 21 Total = $6.7 million + Eno EDD + UDO <br /> 22 <br /> 23 We anticipate that the engineering, build-out, and NC DOC site certification will require 36-48 <br /> 24 months at best, assuming no delays for Buckhorn EDD alone. Given the state of negotiations <br /> 25 with Durham, we anticipate that it will require up to 72 months for engineering, build-out, and <br /> 26 NC DOC site certification for Eno EDD. Thus the EDC addressed a six-year timeframe for our <br /> 27 strategic recommendations and within which to estimate the "order of magnitude" of the <br /> 28 required investment in a comprehensive set of Economic Development activities. <br /> 29 <br /> 30 With Orange County being one of the top 10 start-up centers in the country, we anticipate that <br /> 31 there will be strong demand by talented entrepreneurs for small business loans the county can <br /> 32 provide, especially since the credit squeeze is expected to impact entrepreneurs for the coming <br /> 33 years. Similarly, with RTP continuing to be a magnet for incoming executives and businesses, <br /> 34 and with the competition for those businesses expected to increase, we anticipate that Orange <br /> 35 County will need more— not fewer—options for reducing time and expenses required by <br /> 36 established businesses to expand or locate in Orange County. <br /> 37 <br /> 38 Our estimates for research and analysis funding is based on current cost estimates provided by <br /> 39 UNC research faculty, combined with actual expenditures invested by Chatham and other <br /> 40 neighboring counties for the cluster/R&D/gap/funding stream analyses and strategic planning. <br /> 41 <br /> 42 In summary, based on current information available, we estimate that Orange County will need <br /> 43 to invest roughly $11 million over six years, with about 80% supporting water/wastewater build- <br /> 44 out, approximately 20% supporting a basic economic development tool kit, and less than 5% for <br /> 45 data acquisition and analysis. Note that with respect to infrastructure financing, there are <br /> 46 both matching funds and alternative public-private financing mechanisms, such as Tax <br /> 47 Increment Financing, that can substantially reduce Orange County's share of the total <br /> 48 investment in water and wastewater infrastructure. Although the estimates stated here are <br /> 49 not exact, they point to the order of magnitude of the funding required to transform the virtually <br />