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4 <br /> 1 Efland/Buckhorn/Mebane Capital Projects (map) <br /> 2 <br /> 3 Eno EDD CIP Project Area (map) <br /> 4 <br /> 5 Hillsborough EDD CIP Project Area (map) <br /> 6 <br /> 7 Steve Brantley resumed the presentation of the PowerPoint slides. <br /> 8 <br /> 9 Small Business Loan Fund <br /> 10 Article 46 annual funding: $200,000 or 16% of total <br /> 11 <br /> 12 • Article 46 includes a provision to provide up to $200,000.00 annually in additional <br /> 13 lending flexibility to Orange County's existing Small Business Loan Program. <br /> 14 • The Program's current loan portfolio is supported by a separate source of revolving <br /> 15 funds previously authorized by the BOCC, and no Article 46 monies have been required, <br /> 16 to date, to supplement the Program. <br /> 17 • There are no loan delinquencies in the Program's activity. <br /> 18 <br /> 19 Entrepreneurial & Incubator Support <br /> 20 Article 46 funding: $100,000 or 8% of total <br /> 21 <br /> 22 Examples of Use: <br /> 23 • "LaUNCh Chapel Hill" innovation center is funded 50/50 through an Interlocal <br /> 24 Agreement between Orange County & Town of Chapel Hill. The Interlocal Agreement <br /> 25 expires on 12/31/15. <br /> 26 • Orange County will contribute $140,000.00 for 3 '/2 year through the initial Interlocal <br /> 27 Agreement. UNC & private sponsors also contribute. <br /> 28 • At the request of LaUNCh, the Town of Chapel Hill and UNC, staff will soon present to <br /> 29 the BOCC a recommended proposal for a 3-year extension of the Interlocal Agreement, <br /> 30 at the same annual cost, to continue the County's financial commitment to LaUNCh. <br /> 31 <br /> 32 Small Business Investment Grant <br /> 33 Article 46 annual funding: $100,000 or 8% of total <br /> 34 <br /> 35 Summary of Grant Awards to date: <br /> 36 • Grant program was approved by the BOCC in March 2015. <br /> 37 • Subcommittee comprised of Orange County Economic Development advisory board <br /> 38 members meet quarterly to review grant applications. <br /> 39 • 8 initial grants totaling $61,712.00 were recently awarded in the program's first round of <br /> nd <br /> 40 application reviews during the 2 Q 2015. <br /> 41 • 5 applications were deferred until the second review period <br /> 42 • 34 new and/or deferred grant applications requesting a total of$243,541.67 in grant <br /> 43 awards have been submitted for the second subcommittee review meeting on Oct. 20, <br /> 44 2015. <br /> 45 <br /> 46 Small Business Investment Grant <br /> 47 Article 46 annual funding: $100,000 or 8% of total <br /> 48 <br /> 49 Approved Grants: <br />