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4 <br /> Economic Development Ut'll'ity Extensi"ons - This budget item is for specific <br /> industry projects that come forward througih the Economic Development <br /> Department that are not adjacent to the to the primary collector infrastructure. This <br /> may be a project such as Morinaga where $250,000 was used for an extension for <br /> water, sewer and design services that permitted Orange County to obtain <br /> Community Development Block Grants (CDBG)l and construction work by the North <br /> Carolina Department of Transportation (NCDOT). <br /> Buckhorn Economic Development District <br /> For example, during 2012 and 2013, the County made an initial $4 million expenditure to <br /> create a "backbone" water and sewer network stretching from the Cheeks and Efland <br /> areas westward through the Buckhorn Economic Development District. At that same <br /> time, the Japanese candy company Morinaga & co., Ltd., which was considering sites <br /> across a dozen North Carolina counties and in other states, was able to find a preferred <br /> Orange County site now served by utilities. In September 2013 the company selected <br /> Orange County and announced nearly 100 new manufacturing jobs and an initial <br /> investment of up to $48 million. Morinaga America Foods became Orange County's <br /> largest manufacturing facility, and is expected to make an expansion of equal size in three <br /> to, five years. <br /> Town of Carrboro <br /> Another example of Article 46 funding for utility infrastructure is the Carrboro/County <br /> Interlocal Agreement used to, repair a failing sewer line on obersoin Street. This privately <br /> owned sewer line, whit Il serves over 20 downtown businesses employing more than 100 <br /> people, has now been repaired. Carrboro received State funding from a Community <br /> Development Block Grant that paid for up to 75%, of' the repair cost, and the County <br /> participated financially with Carrboro by sharing in the cost of the CDBG's required 25% <br /> Co-pay. <br /> (2) Small Business Loan Fund of funds ($200,0 <br /> The Orange County Economic Development office manages a loan program to financially <br /> assist small and start-up businesses, including agriculture and food processing firms, to <br /> grow and remain in operation in the County. The loan program provides necessary <br /> growth capital to firms which are typically unable to receive normal bank financing due to <br /> having short operating experience or credit issues that would preclude the firm from <br /> receiving a bank loan. Article 46 funds are available, when needed, to replenish the loan <br /> progiram's lending capabilities. Typical loans can be made for as much as $100,0010 with <br /> up to a 1 0-year repayment term. <br /> Borrowers: Location,: <br /> • Ceremony Salon Carrboro <br /> • Tin Can Ventures Cedar Grove <br /> • Phd Hillsborough <br /> • Skram Furniture Hillsborough <br /> • The Depot Hillsborough <br /> • Mystery Brewing Hillsborougih <br /> • Accidental Baker Hillsborougih <br /> • MasterPeace Barber Shop Hillsborough <br /> • Santosha Chapel Hill <br />