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6 <br /> 1 <br /> 2 Competitive Issues <br /> 3 Competitive Differences between the Finalist Sites: <br /> 4 The other finalist location near Atlanta offered numerous cost advantages to Morinaga, <br /> 5 such as a lower-priced site, reduced state and local taxes, access roads & utilities to the <br /> 6 site already in place, existing firms within an established business park, & a major <br /> 7 airport with direct flights to Tokyo. <br /> 8 <br /> 9 Utility lines & road access improvements required to make Orange County's site <br /> 10 competitive & attract Morinaga will now make adjacent properties more developable, <br /> 11 attractive, competitive, and appealing to future business prospects considering Orange <br /> 12 County. <br /> 13 <br /> 14 Steve Brantley referring to the timeline slide and noted that NCDOT traffic counts <br /> 15 estimate that the Mebane site has 92,000 cars passing by on a daily basis. He said this was a <br /> 16 motivating factor in the decision to switch from the original site. <br /> 17 He referred to the Investment Plans slide and said the potential $48 million investment <br /> 18 number would make Morinaga the third largest corporate tax payer in the County. <br /> 19 <br /> 20 Craig Benedict reviewed the following portion of the PowerPoint presentation: <br /> 21 <br /> 22 Site Location <br /> 23 Buckhorn Economic Development District: <br /> 24 • 21.0-acre site is under option by Morinaga. <br /> 25 • Near Ben Wilson Road & facing interstate 1-40/1-85; close to the Orange/Alamance <br /> 26 county line. <br /> 27 • Part of a larger tract of land rezoned by the BOCC in 2012 to Office/Institutional (0/1) to <br /> 28 promote business recruitment. <br /> 29 • Currently undeveloped with no infrastructure. <br /> 30 • Private landowner has applied to the City of Mebane to have the site rezoned and <br /> 31 annexed. <br /> 32 <br /> 33 Site Photo <br /> 34 Planned Infrastructure to Site (photo) <br /> 35 <br /> 36 Infrastructure Funding <br /> 37 Community Development Block Grant: <br /> 38 N.C. Department of Commerce has ruled the project as eligible to apply for a CDBG, allowing <br /> 39 reimbursement of up to 75%, or, $750,000 for the County's total site infrastructure improvement <br /> 40 costs. County has a 25% co-pay. <br /> 41 <br /> 42 Grant criteria— at least 60% of total jobs created in the first 3 years must directly relate to <br /> 43 Orange County employees who are qualified as coming from low or moderate incomes (earning <br /> 44 no more than 80% of the County's median income of$37,950), prior to coming to work for the <br /> 45 company. <br /> 46 <br /> 47 Orange County's "Article 46" '/4 Cent Sales Tax Proceeds: <br /> 48 Also available, if needed. <br /> 49 <br /> 50 Utility Infrastructure <br />