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2 <br />explaining clearly and concisely to voters what a Board of Commissioners' intent may be with <br />regard to the proceeds. It will be helpful to members of the Local Revenue Options Education <br />Advisory Committee to understand the Board's outlook on planned uses for the proceeds so that <br />information can be incorporated into educational materials to be disseminated to Orange County <br />residents later this spring. <br />The Board may also use time at this February 12 work session to discuss or identify any <br />additional information needs that Commissioners may have in preparation for the February 19 <br />meeting. <br />FINANCIAL IMPACT: There is no direct financial impact associated with this agenda item. <br />Preliminary estimates provided by the North Carolina Association of County Commissioners <br />suggest that based on historical patterns, Orange County could expect additional annual sales <br />tax revenue of roughly $3.0 million, or annual proceeds of approximately $4.0 million from a .4 <br />percent land transfer tax, if approved by voters and implemented by the Board of <br />Commissioners. <br />RECOMMENDATION(S): The Manager recommends that the Board discuss the local revenue <br />options issue and provide any necessary direction to the Manager and staff ahead of the <br />planned BOCC decision item on this subject as part of the February 19 regular meeting agenda. <br />