Agenda - 08-26-1982 - Laserfiche WebLink

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Interim Report Page 2 If the agency in a particular county is an Economic Development Commission it is supported almost entirely with public funds. However, if the agency is a Chamber of Commerce or other private agency, it is generally supported with both public and private funds. RECOMMENDATIONS: Orange County Economic Development Corporation Considering that the Chamber of Commerce and the Carrboro Economic Development Corporation may not support an economic development program created and controlled as a political agency, some form of private agency proram is necessary. The formation of a new Corporation would enable afresh start' while also creating a County-wide program. An Orange County Economic Development Corporation would seem to be best suited to the economic development efforts while allowing for public support from Orange County and other public or private community support. Such an agency could also work well with industrial clients or commercial interests while at the same time treating confidential inEormatioril accordingly. Such an agency could also provide for representation of the business and financial leaders of the community through membership of representatives of the Chamber of Commerce and the Carrbozilo Economic Development Corporation. It is therefore recommended: NAME: Orange County Economic Development Corporation FORM OF New Organization incorporated, through the ORGANIZATION combined efforts of the Chamber of Commerce Carrboro EEC and other private interests. METHOD OF Joint public and private support through FINANCING Orange County Commissioners, Chamber of Commerce ! and private participation. • There have been suggestions regarding representation based on private membershipsland dues paid, some type of Ex-Officio representation by public agencies and governments who are providing financial support. Such participation could be accomodated in the By-laws of the Ageny i when organized.