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-4 4a1.chrv1c24+ 5 <br />RES — 2011 — 033 <br />ORANGE COUNTY BOARD OF COMMISSIONERS <br />A Resolution Regarding Uses of Potential Revenues <br />from a One - Quarter Cent (114¢) 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 $2,500,000 <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, the Board of Commissioners establishes a ten -year commitment to allocate <br />Article 46 one - quarter cent (1/4¢) County sales and use tax proceeds as follows: <br />a. 50% of the funding will be allocated in an equitable manner between the County's two school <br />systems for the dedicated purpose of funding capital projects, including but not limited to <br />facility improvements at 'older schools and the procurement of technology. The Board <br />requests that each school system: furnish the Board of Commissioners with a detailed list of <br />prioritized projects that could be completed with anticipated funding over the next ten years. <br />The Board will evaluate the projects and approve a ten -year plan which will be incorporated <br />into the County's Capital Investment Plan. As part of the Capital Investment Plan annual <br />review, progress will be evaluated annually and adjustments made according to needs agreed <br />upon by the School Boards and Board of County Commissioners; <br />b. 50% of the funding will be. allocated to Economic Development initiatives including but. <br />not limited to: funding utility infrastructure needed to recruit and locate new <br />businesses, small business loans to help existing businesses expand, innovation <br />centers to provide space for new start-up businesses, funding support for the County's <br />agricultural businesses, and Business Investment Grants. The Board of <br />Commissioners will approve a ten -year Economic Development Plan as part of the <br />County's Capital Investment Plan; and <br />