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At~ac~,me~-~ a <br />~.# ~otl-~"7_t 5 <br />ORANGE COUNTY BOARD OF COMMISSIONERS <br />A Resolution Regarding Uses of Potential Revenues <br />from aOne-Quarter Cent (1I4¢) 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 (1I4¢) 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 far Orange County to plari 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¢) 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 <br />school systems, based on the Average Daily Membership of each school system, for <br />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 wil[ be allocated to Economic Development initiatives <br />generally as shown on the attached chart and the Board of Commissioners will <br />approve aten-year Economic Development Plan as part of. the County's Capital <br />Investment Plan; and - " <br />