Orange County NC Website
Browse       Search
Economic and Fiscal Benefits <br />- Reduced or deferred road and parking facility costs <br />- Economic development benefits from agglomeration efficiencies and increased <br />productivity <br />- Increased property values <br />- Increased property tax revenues <br />- Ability to reuse/redevelop property currently used for parking (e.g. Friday Center lot) <br />Social Benefits <br />- Improved social cohesion through positive interactions among people in a community <br />- Improved fitness and health as a result of increased walking and biking to access <br />transit <br />- Reduced traffic accidents <br />- Improved transportation options, particularly for non-drivers <br />- Reduced consumer transportation costs <br />- Improved access to job opportunities for workers, increased labor market shed for <br />employers; improved ability to retain workers concerned with transportation costs <br />and reliability <br />- Neighborhood revitalization and better links between workforce housing and job sites <br />- Expanded market access for customers and clients (e.g. to UNC clinics) <br />Craig Benedict reviewed~ some maps and pointed out the tax benefits of the <br />transportation development. <br />John Copple-Hodges said that that the increase in value does not just come from new <br />construction, but also for existing structures. There would likely be increased sales. <br />Frank Clifton said now that the Board has made the decision on the NC 54 route, the <br />next decision is how to cost share with Durham County. <br />Commissioner Yuhasz asked about the assumptions on the ridership numbers and the <br />modeling that was done. <br />John Copple-Hodges said that all of the modeling is based on the actual adopted 2035 <br />plan. <br />Chair Pelissier said that at their next meeting, there will be a presentation on the NC 54 <br />corridor. <br />b. Oranqe Countv Economic Development Benefits <br />Craig Benedict said that the Orange County Finance department put together some <br />information (hand out) on sales tax revenues for fiscal years 2006-12. The sales tax stream is <br />very critical because it will be the source for the light rail. Orange County has to find a way to <br />bolster sales tax opportunities. This is why the shared benefit analysis is being considered. <br />3. Future Development and Redeveloament Plans for 15-501 Corridor <br />Chapel Hill Mayor Mark Kleinschmidt made a PowerPoint presentation, which mostly <br />consisted of maps. He pointed ouf all of the areas on the maps. He spoke about the many <br />areas that will be redeveloped for economic development. <br />