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A"MC-4 I <br />ORANGE COUNTY <br />CopBOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: May 18, 2010 <br />Action Agenda <br />Item No. <br />SUBJECT: Recommendations from the Economic Development Commission on Economic <br />Development <br />DEPARTMENT: Economic Development PUBLIC HEARING: (YIN) No <br />ATTACHMENT(S): <br />Agenda Materials Provided by EDC <br />Chair Kathleen Ferguson <br />Investing in Our Future: Strategic <br />Recommendations: Places, Tools, and <br />Knowledge (Under Separate Cover) <br />INFORMATION CONTACT: <br />Brad Broadwell, -245-2325 <br />Kathleen Ferguson, Chair, Economic <br />Development Commission, 998 -2153 <br />PURPOSE: To receive recommendations from the Economic Development Commission (EDC) <br />on economic development as outlined in the Commission's six -year implementation strategy <br />and FY 2010 -2011 budget request. <br />BACKGROUND: The Economic Development Commission (EDC) has undertaken an <br />extensive effort working with the UNC Graduate School's of Planning and Government to <br />educate its members and the public on the issues which surround development_ in Orange <br />County. The EDC has provided a report with suggested recommendations as to how Orange <br />County may move forward in creating jobs while enhancing the commercial tax base in Orange <br />County. Among the recommendations the EDC proposes the need to: <br />a. Fully fund the water and wastewater infrastructure improvements needed in the <br />Economic Development Districts. <br />b. Endow the EDC's economic development tool kit with a completed Unified <br />Development Ordinance and a stream lined permitting process, identify and dedicate <br />a funding source for recurring annual investments & financial incentives and <br />recapitalize the loan fund so that the County can compete effectively with regional <br />programs and stimulate the entrepreneurial environment in the County; and <br />c. Commission research and build a knowledge base so that key decisions are data - <br />driven, based on current analysis, and result in economic development performance <br />that is valued by Orange County stakeholders. <br />Kathleen Ferguson, Chair of the EDC, and Anita Badrock, past Chair, will present the <br />recommendations to the Board. <br />3 <br />