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2 <br /> 1 Paul Laughton said yes, it is listed annually as part of the schools' Capital Investment <br /> 2 Plan (CIP) in March. <br /> 3 Paul Laughton referred to the second table for economic development usages. He said <br /> 4 the largest initiative is the debt service on the infrastructure. He said the debt service is 60 <br /> 5 percent of the portion of economic development funds that are brought in. <br /> 6 Paul Laughton said there was one other section within the economic development <br /> 7 funds. He said this is an undesignated section, with two allocations for economic development <br /> 8 utility extension projects. He said no specific projects have been currently identified for utility <br /> 9 extensions. He said these funds are budgeted, but not yet committed. <br /> 10 Chair McKee asked if the sewer line collapse project in Carrboro would fall under this <br /> 11 category. <br /> 12 Paul Laughton said yes, but asked Craig Benedict to elaborate. <br /> 13 Craig Benedict, Orange County Planning Director, said this fund was more of a <br /> 14 Morinaga-like utility extension. He said in that case there was a backbone system that was <br /> 15 about 1,500 feet away from the project. He said funds were used to extend sewer and water to <br /> 16 the Morinaga parcel of land. <br /> 17 Commissioner Dorosin asked if there are restrictions on the usage of this $500,000. <br /> 18 Craig Benedict said the parameters would most likely be a Greenfields project where <br /> 19 existing infrastructure is identified, and the project coming forward would show a return on the <br /> 20 investment. He said there would be agreements in place showing that if utilities were extended, <br /> 21 there would be a party responsible for their upkeep. He said it would be evaluated on a case- <br /> 22 by-case basis. <br /> 23 Commissioner Dorosin asked if funds must be used for the extension of water and <br /> 24 sewer or natural gas, or is a more broad usage permitted. <br /> 25 Craig Benedict said under infrastructure there could be any number of possibilities, <br /> 26 though water and sewer is typical. <br /> 27 Bonnie Hammersley said the funding in place is a placeholder and is not designated at <br /> 28 this time. She said it is in this account, but can be used anywhere. <br /> 29 Commissioner Rich referenced the Ephesus Fordham project and asked if the money <br /> 30 for it would come from Article 46 funds. <br /> 31 Craig Benedict said no decisions would be made until the projects come forth, and the <br /> 32 data is reviewed. He said the Board of County Commissioners would determine from where <br /> 33 the funds would come. <br /> 34 Commissioner Rich said there are different categories for projects in the southern and <br /> 35 northern portions of the County. <br /> 36 Bonnie Hammersley said when data comes back staff would present a recommendation <br /> 37 to the BOCC regarding funding sources. She said Article 46 funds would certainly be <br /> 38 considered as a potential funding source. She said no funds are earmarked at this time, as <br /> 39 amounts are unknown. <br /> 40 Paul Laughton reviewed information from Attachment B, regarding the debt service. <br /> 41 Commissioner Burroughs asked if funds have been budgeted yearly going into the <br /> 42 future. <br /> 43 Paul Laughton said funds have only been budget through FY 2015-2016. <br /> 44 Steve Brantley, Orange County Economic Development Director, presented the <br /> 45 following PowerPoint slides: <br /> 46 <br /> 47 Orange County Economic Development <br /> 48 Discussion of Article 46 <br /> 49 (One Quarter Cent Sales Tax for Economic Development) <br /> 50 October 13, 2015 <br />