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A n <br /> 5 <br /> ORANGE COUNTY BOARD OF COMMISSIONERS <br /> A Resolution Regarding Uses of Potential Revenues <br /> from aOne-Quarter Cent (1/4¢) County Sales and Use Tax <br /> WHEREAS, there are significant pressing infrastructure, economic development, school; and <br /> other County capital needs that are precipitated by growth pressures and the new economic <br /> reality facing Orange County; and <br /> WHEREAS, it is important to provide Orange County taxpayers with alternatives to the <br /> pressure to raise property taxes to address these and other County needs; and <br /> WHEREAS, the levy of a Article 46 one-quarter cent (1/4¢) County sales and use tax would <br /> provide a new County revenue source and would generate approximately $2,300,000 <br /> annually for the County; and <br /> WHEREAS, it is important for Orange County to plan for future economic development that <br /> will enable the County to recruit, retain, grow, and generate businesses and jobs that are <br /> desirable; and <br /> WHEREAS, it is important that Orange County expand collaboration and cooperation of <br /> economic development efforts and decisions between Orange County and the towns of <br /> Chapel Hill, Carrboro and Hillsborough and the cities of Mebane and Durham; and <br /> WHEREAS, it is important for Orange County to meet public school needs; and <br /> WHEREAS, it is important to provide the residents of Orange County improved Library and <br /> Emergency Medical Services to meet the increased demand of a growing population; and <br /> WHEREAS, the Board of Commissioners establishes a 5 year commitment to allocate Article <br /> 46 one-quarter cent (1/4¢) County sales and use tax proceeds as follows: <br /> a. 42.5% of the funding will be allocated in an equitable manner between the County's <br /> two school systems for the dedicated purpose- of facility improvements at `older' <br /> schools within all of Orange County and the procurement of technology. Each school <br /> system will establish a list of prioritized needs for older schools within the County. <br /> Funding provided by the passage of the referendum will be allocated to those <br /> prioritized projects. Progress will be evaluated annually and adjustments made <br /> according to needs agreed upon by the School Boards and Board of County <br /> Commissioners; <br /> b. 42.5% of the funding will be allocated to economic development efforts including <br /> funding infrastructure improvements needed to recruit new businesses and expand <br /> existing businesses; funding for business loans and grants to grow businesses in <br /> Orange County; targeted business recruitment, retention, and expansion efforts; and <br /> community branding and marketing; <br /> c. 15% of the funding will be allocated equally to improve Library and Emergency <br /> Medical Services over afive-year period. <br />