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Commissioner Gordon said that the Planning Board had some concerns. One of the concerns was that the Rural Economic Development Area {REDA) not be applied countywide. The eventual motion was not to include REDA. Craig Benedict said that this step would not adopt any REDA at this time. He said that another step in the process would be to adopt a specific area of the Highway 57/Speedway Rural Economic Development Area. It would not be countywide, but small area plan specific. Commissioner Gordon asked why the Planning Board members felt that they should make the motion with the understanding that the REDA should not be included. Craig Benedict said that the item before the Planning Board was just the small area plan. He said that whether it is adapted with the REDA was mentioned within the small area plan as a future recommendation, but there was not a specific vats on this issue. Commissioner Jacobs said that he thought the Planning Board was jumping the gun a bit an this issue. A motion was made by Commissioner Jacobs, seconded by Commissioner Foushee to approve the recommendations of the Economic Development Commission and the Planning Board for the final draft NC Highway 57 Speedway Area Small Area Plan and to adopt the plan. VOTE: UNANIMOUS b. Local Revenue Options Authorized by General Assembly The Board considered its intent for enacting the County's local revenue options recently authorized by the General Assembly and providing direction to staff. Laura Blackmon said that this request had been before the legislative session before, and this past legislative session, the offer was given to either, through a referendum, enact a .4°~ land transfer tax, ar an additional %4-cent sales tax. The County can choose between the two or put both issues on the ballot. The idea is that the option is available, but only with the approval of the public. The referendum could go forth on November 6t" an the date for the municipal elections. The County polling stations would not be open on this date. The decision to put it on the November 6t" ballot would have to be made by September 4t". The %-cent sales tax would become effective April 15t if it were approved on November 6t". The tax would become effective the first quarter after the referendum is passed. The next election is May 6, 2008. All precincts would be open on this date. There will have to be a campaign to let the voters know the issues. The land transfer tax would generate a little over $4 million. The sales tax would generate a little over $3 million. She said that she got an email from the NCACC and so far eight counties have decided to do the land transfer tax and five counties have decided to da the sales tax. Chair Carey said that some counties are waiting to see what the impact will be of the legislative decisions. He said that he needs to know the changes in the revenue stream from the legislature before deciding. Commissioner Jacobs and Commissioner Foushee asked for information on the revenue streams that might be lost. Donna Coffey said that the County would be losing for one year only a portion of the public school building fund money. The County Commissioners approved about $1.1 million in the budget far this. The State will be taking about $400,000 away from this. Also, regarding the Medicaid relief in future years, the article 44 sales tax and a portion of the article 42 sales tax will be lost. In losing all of this, the County will have to hold the towns harmless for any amounts that will be lost. The County will be gaining $500,000 a year because of a hold harmless piece in the Medicaid Relief legislation that holds all counties harmless so they receive at least $500,000. Orange County has been fortunate not to have paid as much for Medicaid over the past years. She said that this is a three-year implementation on the Medicaid relief plan. Laura Blackmon said that she would like to try and separate the revenue options from the Medicaid relief issue.