Minutes 01-24-2012 - Laserfiche WebLink

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