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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: November 17, 2015 <br /> Action Agenda <br /> Item No. 7-a <br /> SUBJECT: New Interlocal Agreement between Orange County and the Town of Chapel Hill <br /> to Continue Funding the "Launch Chapel Hill" Small Business Incubator <br /> DEPARTMENT: Economic Development PUBLIC HEARING: (Y/N) No <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Steve Brantley <br /> (1) Memorandum to BOCC from Director, Economic Development <br /> Launch Chapel Hill's Program (919) 245-2326 <br /> Manager, Dated September 29, <br /> 2015 <br /> (2) Interlocal Agreement Between <br /> Orange County & Town of Chapel <br /> Hill to Support a Small Business <br /> Incubator <br /> (3) UNC Press Release Dated 11/4/15, <br /> Launch Chapel Hill Incubator Rank <br /> PURPOSE: To consider a new Interlocal Agreement between the County and Town of Chapel <br /> Hill that extends the County's Article 46 funding support for entrepreneurial development to <br /> continue supporting the existing "Launch Chapel Hill" innovation center located at 321 West <br /> Rosemary Street in Chapel Hill. <br /> BACKGROUND: As part of the Board of County Commissioners strategic planning in 2011 to <br /> utilize Article 46 funding to support key economic development priorities, the importance of <br /> growing and retaining entrepreneurial start-up talent in Orange County was included. The <br /> Board sought to reverse the historic trend where promising, growth-oriented start-up companies <br /> originating out of the University of North Carolina would eventually relocate to adjacent counties <br /> over time. The County contracted with the department head of UNC Chapel Hill's Department <br /> of City & Regional Planning (Dr. Emil Malizia) in 2011 & 2012, who conducted a regional real <br /> estate assessment of average lease costs, ideal space needs and working environments that <br /> start-up companies seek throughout their developmental life span. A key recommendation from <br /> the consultant report highlighted a severe shortage of competitively priced incubator facilities <br /> here in the County, and suggested the development of an innovation center to better retain <br /> entrepreneurial talent coming from the University and local community. <br /> In March 2012, available property located at 321 West Rosemary Street in Chapel Hill was <br /> identified as a potential incubator location, and the Town of Chapel Hill and Orange County <br /> began working collaboratively to support further development of an innovation center at this site. <br />