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~. `~.UIo-DC~9 <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 annuaWy 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 />