Agenda - 12-13-2011 - 8f - Laserfiche WebLink

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21 consist of one County Commissioner and the County Manager 'or his or her designee, the Cooperative Extension Director of each of the Parties, and a local farmer from each county. This Steering Committee shall provide general guidance to Orange County ~in the launch and operation of the Center. Upon the expiration or termination of this Agreement the Steering Committee shall automatically dissolve. 4. Management and Operation of the Center The Parties hereby agree that Orange County will own, maintain and- operate the Cen#er for the purposes stated in this Agreement. Orange County will enforce the rules and regulations, approved by the County Manager of Orange County, with the advice of the Steering Committee governing the reasonable use of the Center, operate the Center in an efficient and economical manner, and maintain the properties constituting •the Center in good repair and sound operating condition. Each Party to this Agreement shall have the opportunity to review and comment on the proposed rules and regulations prior to the Center opening and any substantive changes made to said rules and regulations for the Term of this Agreement. 5. Insurance Orange County shall maintain, during the term of this Agreement, all applicable insurance coverage as is currently maintained for other Orange County-owned facilities including, but not limited to, Fire and Casualty Insurance, Worker's Compensation Insurance, Comprehensive General Liability Insurance covering claims arising out of or relating to bodily injury, including bodily injury, sickness, disease or death and damage to real acid personal property including loss of use resulting thereof. 6. rinancial Support A. The Piedmont Food and Agricultural Processing Center Feasibility Study (hereinafter "Feasibility Study") indicated a positive cash flow by year three of operations and this fiscal forecast did •not include the $120,000 in grant funds awarded for year one operations. However, thexe is still a need to provide a mechanism of fiscal support of the Center in the event of revenue shortfall during the term of this Agreement. The Parties agree that they shall allocate sufficient budgetary funds to support the Center as provided in this section 6. The Parties agree that should the Center experience revenue shortfall in excess of that amount stated in this section 6B the governing Boards of the Parties may, but are not required ta, authorize the expenditure of additional funds to cover such shortfall. - B. Pursuant to N.C.G.S. 158-7.4, the Parties are authorized to provide resources to 'support the Center in order to maintain its operations. To that end, each party agrees to provide funds to Orange County for the operation of the Center upon notice and justification of revenue shortfall up to a maximum amount of one hundred and fifty thousand dollaxs~($I50,000) per fiscal year, as. follows: - 3of11