Agenda - 03-13-2012 - 5a - Laserfiche WebLink

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25 1 Economic Development partners (Chamber of Commerce, other area Economic Development 2 practitioners, and local business leaders) to identify potential Advisory Board members. 3 4 It is anticipated that the selected members will serve no more than two 3 year terms. Specific, 5 time-limited task forces may be created, either from Board members or from informed County 6 citizens, to study specific issues. It is anticipated that the formation of the Board will coincide 7 with the initiation of the Quarter cent sales tax proceeds, which are expected to start accruing 8 mid-2012. Appointments to the Board could start as early as Spring 2012, with initial 9 membership limited to 5 to 9 individuals. Meetings would be held at least quarterly. 10 11 Composition of New Economic Development Advisory Council 12 13 Advisory board member would ideally have a direct or indirect background in economic 14 development, and be actively involved in promoting business. Candidates should either live in 15 Orange County, have invested in Orange County, or have a direct economic development 16 interest in Orange County. 17 18 Representatives from the following sectors would be targeted for inclusion into the initial Board 19 composition: 20 21 - Members of the County's core business community, including banking, 22 construction, manufacturing, architecture, real estate, legal, development, utility 23 management, etc. 24 - The advisory board should ideally include one person who represents agriculture; 25 - An individual actively involved in entrepreneur activities; 26 - An individual representing the University of North Carolina at Chapel Hill, 27 preferably involved in the development activities, such as planning for Carolina 28 North, or on the foundation side of business development; 29 - The tourism sector represented by an individual involved in retail and/or hospitality 30 - At some point in the future, someone representing Duke University land assets in 31 Orange County could be included 32 33 Potential Functions of the New Economic Development Advisory Council 34 35 Although the activities of the Board will be dependent on specific project and department needs, 36 several activities anticipated to be performed by the Board include; 37 38 - Meet with prospective clients, and be involved with select economic development 39 endeavors; 40 - Participate and advise in discussions, evaluations, and decisions on appropriate 41 economic development uses of the proceeds from the quarter cent sales tax; 42 - Craft, analyze and promote economic development initiatives; 43 - Identify and review potential new markets; 44 - Assist in planning economic development policy; 45 - Actively engage in stimulating community discussions on economic development 46 issues; 47 - Assist with the small business loan program; 48 - Set priorities on the location and type of infrastructure (water, sewer, fiber) for the 49 County's Economic Development Districts;