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BOARD OF ORANGE COUNTY COMMISSIONERS (BOCC) <br />GOALS — 2015 UPDATE <br />FOR DISCUSSIONS PURPOSES <br />Economic Development -Small Business Loan <br />Program <br />• Small Business Loan Program has successfully <br />supported new and existing small businesses <br />located in Hillsborough, Carrboro, Chapel Hill <br />and the rural area by awarding of loans to <br />applicants. <br />Business Retention & Expansion Efforts <br />• Ongoing company visits continue with large <br />and smaller existing firms in Orange County. <br />Agriculture Economic Development <br />• Ongoing efforts to nurture agricultural related <br />economic development, to include linking <br />locally grown foods with local consumers, <br />Entrepreneurial Support <br />• Ongoing effort to support and retain <br />entrepreneurial start -up talent that originates in <br />the County, such as student talent at UNC <br />Chapel Hill. <br />Marketing Efforts <br />to the County's promotional <br />.N <br />Cheeks and Efland areas westward toward <br />the City of Mebane. <br />• The ED project included 2 miles of gravity <br />sewer (18" gravity in western zone and 12" <br />gravity in eastern zone), and 3 miles of 16" <br />water system. Besides adding to the <br />inventory of additional utility serviceable <br />acres, the 16" water system created a large <br />loop to increase pressures, water capacity <br />and fire flow to many existing industrial <br />businesses in Orange County's western <br />economic development zone. <br />Economic Development -Small Business Loan <br />Program <br />• There are eight current borrowers, and all <br />loans are current, with no defaults. <br />• Current loan activity by prospective <br />borrowers includes approximately a dozen <br />individuals and /or small businesses that <br />have either received an application, have <br />submitted all or parts of the required <br />documentation, or have reached the final <br />review stage with the loan committee. <br />BOCC comments made during the April <br />15th, 2014 report presentation included a <br />request for (a) clarification of the loan <br />committee's approval process, (b) a desire <br />to see the Program increase its lending <br />activity to Orange County's small <br />businesses, and (c) concern that certain <br />credit considerations to approve loans <br />(such as a current prohibition to lend to <br />non - profits, or to applicants with pending <br />