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4 <br /> Attachment 1 <br /> MEMORANDUM <br /> TO: Board of County Commissioners <br /> FROM: Dina Rousset, Program Manager Launch Chapel Hill on behalf of the <br /> Executive Committee of Launch Chapel Hill— Judith Cone (UNC), Ted <br /> Zoller (UNC), Steve Brantley (Orange County), Dwight Bassett (Town <br /> of Chapel Hill), Jim Kitchen (community) <br /> SUBJECT: Recommendation for an extension of the Memorandum of <br /> Understanding By and Among the Town of Chapel Hill. The Chapel <br /> Hill Downtown Partnership and The University of North Carolina at <br /> Chapel Hill dated November 26, 2012 together with the related <br /> financial commitment. <br /> DATE: September 29, 2015 <br /> RECOMMENDATION: <br /> The Executive Committee of Launch Chapel Hill has reviewed the Memorandum of <br /> Understanding as well as the Performance Agreement between the Downtown <br /> Partnership and the Town of Chapel Hill and recommends that they be continued for <br /> an additional 3 year term, beginning on January 1, 2016 and continuing until <br /> December 31, 2018. The Executive Committee recommends that Orange County <br /> continue to fund at $40,000 annually and has recommended that the Town of Chapel <br /> Hill also fund at $40,000 annually. <br /> SPECIAL REQUEST(S): <br /> None <br /> BACKGROUND: <br /> In November 2012 the Town of Chapel Hill, The Chapel Hill Downtown <br /> Partnership and The University of North Carolina entered into an agreement <br /> regarding the creation, governance, operation and funding of the Downtown <br /> Incubator. In January 2013 Launch Chapel Hill opened its doors and since that time <br /> has supported a wide variety of start-ups and entrepreneurs. To date 42 companies <br /> have completed the six month accelerator program and numerous others have <br /> participated in workshops, seminars and networking events in the space in <br /> Downtown Chapel Hill. In addition the support provided by the Town and County, <br />