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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: June 21, 2016 <br /> Action Agenda <br /> Item No. 5-k <br /> SUBJECT: Contract Amendment to the Existing Interlocal Agreement between Orange <br /> County and the Town of Chapel Hill for the "LAUNCH Chapel Hill" Small <br /> Business Incubator <br /> DEPARTMENT: Economic Development <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 June 8, 2016 <br /> (2) Current Interlocal Agreement <br /> Between Orange County & Town of <br /> Chapel Hill to Support a Small <br /> Business Incubator <br /> PURPOSE: To amend the existing Interlocal Agreement between Orange County and the Town <br /> of Chapel Hill enabling LAUNCH Chapel Hill to add space to the incubator facility's existing <br /> office to accommodate more start-up companies, and thereby increase the County's shared cost <br /> to support the facility. <br /> BACKGROUND: Attachment 1 is a memorandum from Ms. Dina Rousset, who oversees <br /> LAUNCH Chapel Hill as the program manager. The memo outlines the current activity of the <br /> facility and its companies, and UNC's close coordination to expand the University's commitment <br /> to entrepreneurial development. In the past month LAUNCH has learned of an opportunity to <br /> nearly double operating space, and has now made a funding increase proposal to its key <br /> partners: Orange County, Town of Chapel Hill, UNC and the venture capital supporter "Becker <br /> family" of Chicago. <br /> LAUNCH seeks to add 3,700 square feet of adjacent, available space to the incubator facility's <br /> existing 4,000 square foot office. This on-site expansion opportunity will allow LAUNCH to <br /> accommodate more start-up companies as it completes the initial accelerator program. The <br /> expansion of LAUNCH will increase the County's shared cost to support the facility, which will <br /> be paid from Article 46 sales tax funds, and thereby requires an amendment to the current <br /> Interlocal Agreement. <br /> The proposal would modify the current 3-year economic development relationship between <br /> Orange County and Town, which each share the lease cost of the "LAUNCH Chapel Hill" <br /> innovation center located at 321 West Rosemary Street. Currently, Orange County's $10,000 <br />