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DRAFT RES - 2011 - 071 Attachment 4 1 ~ <br />See Updates in bold <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 $2,500,000 <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 aten-year commitment to allocate <br />Article 46 one-quarter cent (1/4¢) Courity 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 <br />school systems,. based on the Average Daily Membership of each school system, <br />for the dedicated purpose of funding capital projects, including but not limited to facility <br />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 <br />list of prioritized projects that could be completed with anticipated funding over the <br />next ten years. The Board will evaluate the projects and approve aten-year plan <br />which will be incorporated into the County's Capital Investment Plan. As part of the <br />Capital Investment Plan annual review, progress will be evaluated annually and <br />adjustments made according to needs agreed upon by the School Boards and Board <br />of County Commissioners; <br />b. 50% of the funding will be allocated to Economic Development initiatives as follows: <br />1. 60% of the funding will be allocated utility infrastructure <br />2. 20% of the funding will be allocated to recruit and locate new businesses in <br />Orange County <br />3. 10% of the funding will be allocated to small business loans to help existing <br />businesses expand <br />