Agenda - 04-07-2011 - 2 - Laserfiche WebLink

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DRAFT ORANGE COUNTY BOARD OF COMMISSIONERS A Resolution Regarding Uses of Potential Revenues from aOne-Quaver Cent (114¢} County Sales and Use Tax UvH~~~A, there are significant pressing infrastructure economic development, school, and other County capital needs that are precipitated by growth pressures and the nevi economic reality facing Orange bounty; and 1fvHBR~A, it is important to provide Orange County taxpayers Frith alternatives to the pressure to raise propertytaxes to address these and other County needs; and v~fHBRBAB, the levy of a Article ~ one~quarter cent ~~14~} County sales and use tax Mould provide a new County revenue source and v~rauld generate appraxirr~ately ,50a,aaa annually forthe County; and UvH~R~AB, it i important far Orange County to plan for future economic development that v~ill enable the County to recruit, retain, grow, and generate businesses and jobs that are desirablet and UIfH~R~~~ it is important that Orange County expand collaboration and cooperation of econor~ic develop~ent efforts and decisions bet~veen Orange County and the to~rns of Chapel Hill, Carrbara and Hillsborough and the cities of Mebane and ~~urham; and l~1fH~REA, it is important far Orange County to meet public schaol needs; and Ulf HBR~AB, the Beard of Commissioners establishes a year commitr~ent to allocate Article 4 one-quarter cent ~~~~} County sales and use tax proceeds as folla~rs: a. 5g°l~ of the funding Mill be allocated in an equitable manner betvueen the County's t~ra school systems for the dedicated purpose of facility in~proven~ents at ;alder' schools ~rithin all of Orange County and the procurement of technologyr each school system v~ill establish a list of prioritized greeds far older schools vuithin the County Funding provided by the passage of the referendum gill be allocated to those priaritixed projects, Progress v~ill be evaluated annually and ad~ustn~ents made according to needs agreed upon by the schaol Boards and Beard of County Commissioners; b. 0°l~ of the funding ~vill be allocated to fund infrastructure improvements needed for economic develaprnent initiatives that recruit ne~f businesses, expand existing businesses, provides fundi~rg far small business loans to grog businesses in Orange County; UIfH~REA~ if additional funding does not came from the one-quarter Dent {~1~4~ County sales and use tax, the property tax vrill be the primary funding source available far schools and economic developrrrrrt initiatives;