Agenda - 06-21-2011 - 8f - Laserfiche WebLink

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PROPOSED ECONOMIC DEVELOPMENT USES OF SALES TAX PROCEEDS Focus Area Percentage Estimated Example Activities Frequency of Funds1 Annual Expenditures Debt Service on 60% $750,000 • Installation of water and sewer infrastructure in Annually for 10 years Infrastructure EDDs Collaborative 1.5% $15,000 - $20,000 • Trade shows targeted to specific industry Annually for 10 years; Outreach clusters amount of funding will • Industry Appreciation events businesses vary • Local "Economic Health" Summit Collateral Materials 1.5% $20 000 • Updated Internet interface Funding only required , • Utilization of appropriate social media tools every 2 to 3 years • Develo ment of informative brochures Innovation Space 5 -10% $75,000 - • Up fit of a county-owned innovation space Funding will vary with site $125,000 Rent subsidies and/or leasehold improvements improvement on rivatel owned leasable s ace re uirements Agricultural 2 - 20% $25,000 - • Focused counseling for food-based businesses 10 years, but funding will Economic $250 000 ~ graduating from PFAP ' vary with program Development facility to • Creation of a'culinary kitchen requirements rovide facilities for PFAP raduates Business 8% $100,000 • Advanced site preparation 10 years, but funding will Investment Grants • Relocation assistance vary with project Small Business 0% -16% Up t0 $200,000 • Start-up capital and expansion funds for Orange After several years, Loan Program for next few County small businesses program will be self sufficient years Establishment of 12 -16% Up t0 $200,000 • Develop public-private stand alone economic Expenditures in Years 2 - 501c (4) entity fOr Several years develop entity 5 for start up funding ' Reflects the percentage of economic development funds, rather than overall funds a n x rn z .r Sales Tax Initiative -Orange County Economic Development June 13, 2011 DRAFT Page 1 of 1 N