Agenda - 09-17-2013 - 5a - Laserfiche WebLink

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19 1 Chair Jacobs requested periodic reports about economic development activity through 2 either a semi-annual or annual report. 3 Steve Brantley said he will see what can be gathered in a report, and will start providing 4 the Board with this requested information. 5 Chair Jacobs said his experience with RTRP has been that it is equally offensive and 6 insensitive as it is effective. He said he would reserve judgment until he sees the proposal. 7 Steve Brantley said there is a possibility that the State will sub out regional marketing 8 through regional partnerships. He said this would be interesting, but nothing may be known 9 about this for six months. 10 Commissioner Price said she thought that Orange County paid less than Durham and 11 Wake, and Wake has actually been subsidizing other counties. 12 Steve Brantley said the 30 cents per capita may be currently correct for Wake and 13 Durham. He said this is not divulged. He said that Wake County is capable of significant fund 14 raising through companies like Red Hat, as well as banks and power companies. 15 Frank Clifton clarified that these assessments don't necessary come from the 16 government and often come from the Chamber of Commerce or another non- governmental 17 agency. He said that Orange County does not have a large corporate base to pull from. 18 Commissioner Gordon asked if the County will get any more information about the 19 benefits from the increases in this fee. 20 Frank Clifton said this question has been asked in the face of increasing fees, but there has 21 been no answer yet. 22 Commissioner Gordon asked if this answer will come in time to impact the budget. 23 Frank Clifton said the money is not a significant dollar amount. He said this can be 24 allocated later in the fiscal year out of the quarter cent sales tax fund 25 Tonya Walton referred to the Article 46 sales cent on page 53. She said this was 26 enacted in April of last year, and funds are allocated 50/50 between County economic 27 development projects and the two school systems. She said the County anticipates generating 28 $2.6 million in revenue for the upcoming year. 29 Commissioner McKee asked if the amount listed on the second page works out well in 30 terms of allocation. 31 Steve Brantley said the categories are appropriate for now. He said some categories 32 may show themselves to be as active in terms of demand in the future. He said that water and 33 sewer lines are the single area with needs right now. 34 Commissioner McKee said wondered whether adjustments need to be made moving 35 forward. He just wants to clarify that slight shifts may be needed as things move along. 36 Frank Clifton said that the funding now is to create a base. He said the County has 37 been fortunate to have low interest rates that allow for expansive projects. 38 39 Visitors Bureau and Arts Commission 40 Page 275 41 42 Visitor's Bureau 43 Budget Highlights 44 Occupancy Rates and Revenue: In FY 2013-14, the Visitors Bureau will target a 68% 45 occupancy rate. Orange County's 3% occupancy tax projection is $1.2 million. 46 Carrboro's new 140-room Hampton Hotel will generate an additional $68,482, in 47 occupancy taxes. Additionally, the area'sl,600 hotel rooms will see a slight increase in 48 room rates, back to the industry's 2007 peak rates, and contribute to tax growth. 49 Travel Revenue and Impacts: Next fiscal year, domestic travelers will spend an 50 estimated $160 million in Orange County, a 5% increase from current year estimates.