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Attachment D 25 <br />Ephesus Fordham Renewal <br />Potential Economic Development for Orange County <br />The proposed redevelopment of Chapel Hill's Ephesus Church — Fordham <br />Boulevard district offers several realistic economic development benefits: <br />• Significantly greater property tax valuation is created, per acre, due to the <br />higher density allowed by the proposed redevelopment. <br />• Retail sales tax potential will reduce our local sales tax leakage, and help <br />retain wealth currently flowing out of Orange County and into our <br />neighboring counties. Although Orange County ranks #1 in N.C. for <br />highest per capita income, we rank 81St among all 100 N.C. counties in <br />retail sales tax collected per capita. <br />• The inventory of available commercial office locations will grow, thereby <br />making Orange County & Chapel Hill more competitive to recruit new and <br />expanding corporate headquarters site search projects. Currently, larger <br />office headquarters projects are able to find suitable commercial space in <br />Durham County & Wake County that is not available in Orange County. <br />