Agenda - 12-01-2014 - 6a - Laserfiche WebLink

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 Commissioner McKee said Carrboro contributes a significant amount of money and other resources for the current Cybrary and the McDougle library. He expressed appreciation for this and said he hopes this collaboration will continue. David Andrews said he hoped to continue this relationship. Mayor Lavelle said it is exciting to see some dates. She said everyone is happy to be moving forward collaboratively. Alderman Haven O'Donnell thanked Lucinda Munger for all of her hard work on this project. Alderman Chaney said she hopes that this project can stick with a 9 month CUP process, and she encouraged County staff to be candid with them in helping keep things on track. 2. Article 46 One - Quarter (1/4) Cent Sales Tax Revenues Steve Brantley referenced the information provided in their packets. He said article 46 was approved by Orange County residents in 2011, and it provides additional funding for education and for economic development for 10 years. He said $1.25 million is designated for each of these two items. He said in December 2011 the Board of County Commissioners adopted a resolution on the uses and expenditures of this collection, and in spring of 2012 the County began to receive the proceeds of the tax. Steve Brantley said Orange County also began to approve major water and sewer contracts in the Economic Development Districts (EDDs). He said this was the largest expenditure of the article 46 funds, at approximately $600,000 to $700,000 per year. He said this water and sewer structure attracts new businesses. He said these EDDs make up 3 percent of Orange County's property along the interstate. Steve Brantley said the Town and County previously collaborated and signed an Interlocal Agreement to establish joint 50/50 co -pay for the repair of the privately owned sewer line on Roberson Street, serving over 20 businesses. He said the primary repair cost to replace this sewer line was funded by a State of North Carolina "Community Development Block Grant" (CDBG) through the N.C. Department of Commerce. He said the County's 50 percent portion of the remaining cost was originally estimated at $37,500 - $40,000, and was later increased up to an additional $40,000 to cover the increased repair estimate. He said the County's portion will be paid by Article 46 half cent sales tax proceeds for economic development. He said the construction of the new sewer line is now complete, most of the existing businesses have since reconnected to the new line, and in the next 30 days the Town expects to invoice the County for the actual co -pay amount. Steve Brantley said article 46 has another category for small business loans. He said another category is the business investment grant. He said when this article was passed and funds started coming in, he realized there was no policy in place to make these grants. He said the Economic Development Advisory Board has worked for the past year on a draft proposed application and multi- tiered structure for evaluating small business grant applicants. He said if this is approved, it will also provide a blueprint for the subsequent agricultural investment grant. Alderman Johnson arrived at 7:20. Steve Brantley reviewed some other possible uses of this funding. Mayor Lavelle said $1.25 million of the revenues received per year for the ten year period are designated for economic development. She asked if the $600,000 - $700,000 going to water and sewer would be for all ten years. Steve Brantley said the sales tax is permanent, but the economic development use is for ten years.