Orange County NC Website
Browse       Search
_~ <br />Marshall to approve the Sect~.ons listed above. Article IV, Section 9.5 <br />will be reworked and submitted again to the ,.Board. <br />VOTE: UNANIMOUS. <br />Article VI Section 3.14 <br />Article VII Section 3.2 <br />Motion was made by Commissioner Carey,. seconded by Commissioner <br />Halkiotis to approve the two sections listed above with Article VII, <br />Section 3.2 to be effective through June 30, 1987. <br />VOTE: UNANIMOUS. <br />7. NORTHERN FAIRVIEW PARK CONSTRUCTION - BID AWARD <br />The presentation was made by Purchasing Director Pam Jones. <br />- Motion was made by Commissioner Carey, seconded by Commissioner <br />Willhoit to award the bid for construction of Fairview Park to Laramore <br />Construction Co., Danville, Virginia for the negotiated sum of $104,990 <br />and authorize the Chair to sign on behalf of the Board. <br />VOTE: UNANIMOUS. <br />8. SMALL BUSINESS ADMINISTRATION LOAN PROGRAM <br />The presentation was made by Economic Development Director Sylvia <br />Price. Janneke Hermans from the Capital Economic Development Corporation <br />(CEDCO) answered specific questions and explained how the SSA 504 loan <br />program operated. <br />Sylvia Price stated that the Economic Development Commission heard <br />the presentation from CEDCO and after a lengthy discussion passed a <br />resolution requesting the Board of Commissioners to approve the program <br />and adopt a resolution to that affect. <br />Motion was made by Commissioner Carey, seconded by Commissioner <br />Halkiotis to approve the resolution as stated below: <br />RESOLUTION TO INVITE THE CAPITAL ECONOMIC DEVELOPMENT CORPORATION '' <br />(CEDCO) TO EXPAND THE TERRITORIES OF ITS SMALL BUSINESS ADMINISTRATION <br />(SBA) APPROVED CERTIFIED DEVELOPMENT COMPANY PROGRAM .BOUNDARIES TO INCLUDE <br />ORANGE COUNTY <br />WHEREAS, the Board of the Orange County Commissioners sees the <br />need to help small businesses in Orange County by improving the <br />availability of long-term fixed asset financing to small, businesses at <br />affordable terms and conditions; and <br />WHEREAS, the Board of the Orange County Commissioners believes <br />that expansion, growth and viability of small businesses in Orange County <br />will expand employment opportunities far Orange County Citizens, expand <br />the tax base, increase business ownership opportunities and expand the <br />economic base of the community; and <br />WHEREAS, the authority of this program is found in the July 2, <br />1980 amendment to the Small Business Investment Act; and <br />WHEREAS, the Capital Economic Development Corporation, hereafter <br />known as CEDCO, is an authorized Certified Local Development Corporation <br />with the resulting capabilities to provide long-term, fixed asset <br />financing through Section 504 loans to certain businesses and individuals <br />owning or leasing property located within designated boundaries of the <br />CEDCO service area; therefore <br />BE IT RESOLVED BY THE ORANGE COUNTY BOARD OF COMMISSxONERS: <br />1. That Capital Economic Development Corporation (CEDCO) is <br />invited to expand its service territory to encompass Orange <br />County, conditional upon the following: <br />(a) That CEDCO would make the SBA 504 program available to <br />Orange County at no cost; and no time or other commitment <br />or input from the County; and <br />