Orange County NC Website
Commissioner Rich noted that this meeting and all meetings are being televised. <br /> Alderman Slade asked to what degree the 60 percent has been allocated for the <br /> economic development zones. He is interested in other ways to allocate the resources to <br /> potential infrastructure improvements within the towns. He said some of these funds might be <br /> used to incentivize the towns to think creatively about light manufacturing, zoning, and working <br /> collaboratively with the County. <br /> Alderman Slade encouraged everyone to look at economic development as an <br /> opportunity to address major issues such as climate change. He said the federal and state <br /> governments are not doing anything about this, and studies have shown that economic <br /> development can align nicely with addressing this issue. <br /> Alderman Slade said he wants to consider supporting and giving grants to locally <br /> owned businesses. He said this provides benefit to the community by circulating money locally <br /> and providing jobs. He said he has a list of reasons of why it is important to support these <br /> locally owned businesses, and he will distribute. <br /> Steve Brantley said Orange County was eager to work with Carrboro on the repair of <br /> the privately owned failing sewer line on Roberson Street. He said there was a partnership on <br /> this project, and it has almost been successfully put into place. He said the County cost for <br /> this came from the quarter cent sales tax. <br /> Craig Benedict addressed the issue of projects in the Economic Development District <br /> (EDD). He said the Eno EDD has 500 acres that are underdeveloped or undeveloped. He <br /> said part of the capital improvement program over the next ten years is to invest about a $1.5 <br /> million in that zone. <br /> He said the Hillsborough EDD is in and around Waterstone, in the unincorporated <br /> portion of Orange County. He said there has been a master plan of uses in this area through <br /> joint planning with Hillsborough, and there is $1.5 million earmarked for economic <br /> development. Craig Benedict said the larger zone is a 2000 acre area in the Buckhorn <br /> EDD, which is an area bordered roughly by the railroad tracks. He said $4.5 million in <br /> infrastructure has already been completed here. He said this was already in process when <br /> Morinaga came looking in Orange County, and further infrastructure was extended to serve <br /> that project. He said there is another $4 million project that is in the 95 percent designed <br /> stage, and this will open up additional lands along the interstate. He said this total of$8 million <br /> in the Buckhorn area includes some water systems to serve existing economic development <br /> zones and to improve pressure, fire flow, and capacity. <br /> Craig Benedict said their program for debt service of$10 to $11 million will be $750,000 <br /> per year, over 20 years, with 10 years of funding through this quarter cent sales tax. He said <br /> one positive element is the $250,000 in additional sales tax revenue that comes to the County <br /> each year. He said if this keeps increasing, there can be investment in other areas. <br /> Commissioner McKee addressed Alderman Slade's comments and said small <br /> businesses are an integral part of the Small Business Loan program. He encourages anyone <br /> starting a new small business or an existing program to apply. <br /> Alderman Chaney said Carrboro also has a small business loan fund, and she asked if <br /> Chapel Hill or Hillsborough has a program. <br /> Mayor Kleinschmidt said Chapel Hill has a fund targeted at small business arts startup <br /> groups. He said this has been used twice so far. <br /> Mayor Stevens said Hillsborough does not have a fund, although many of their <br /> businesses use the Orange County fund. <br /> Alderman Chaney said she is concerned about having a lot of liquidity across multiple <br /> funds, and she suggested efficiency might be gained by collaborating, pooling funds and <br /> making policies together regarding how funding is done. <br />