Orange County NC Website
Browse       Search
1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />47 <br />48 <br />49 <br />26 <br />What can Economic Development afford the County? A realistic scenario... graph <br />Real Estate Tax Rate: $0.8377 per $100 <br />Key Take Aways <br />❑ Data Indicates Orange County has Legitimate Prospect Activities and Opportunities to close <br />deals <br />❑ There is less developable acreage than originally anticipated in the EDD's and CITAN's <br />❑ Water & Sewer capacity is an issue for recruiting high $$ per SF industries (Food & <br />Beverage, Manufacturing /Bio, IT /Data Centers) <br />❑ Orange County has some legitimate properties that can be developed, however, the County <br />needs to be thinking beyond the existing CITAN's and EDD's <br />❑ Economic Development opportunities can generate significant tax revenues to help pay for <br />Infrastructure, Schools and other key County <br />Services in addition to creating "living wage" jobs <br />Other factors to consider... <br />❑ Curb Appeal & Compatible uses are factors <br />❑ Ease of access to Interstates &Turning Movements <br />❑ Residential Development &Potential Traffic Patterns <br />Land Prices Revisited <br />Alamance County — Comparable Land Sales- graph <br />Land Prices Revisited <br />Durham County — Comparable Land Sales- graph <br />Current Listings on Real Estate Market Alamance County (as of Dec 31, 2017) -graph <br />• Average Price Per Acre= $33,809 <br />Current Listings on Real Estate Market Durham County (As of Dec 31, 2017) -graph <br />• Average Price Per Acre= $40,744 <br />Current Listings on Real Estate Market Orange County (As of Dec 31, 2017) <br />• Average Price Per Acre= $51,681 <br />Relative Comparison of Real Estate Pricing <br />Relative Comparison of Real Estate Pricing <br />County <br />Buckhorn EDD — Optimistic Build Out 3.1 M SF <br />Why are projects NOT locating here? <br />• Adjacent Residential Development <br />• Adjacent to Schools / Soccer Fields <br />• Limited access due to rail on north side of interstate <br />• Lack of Water & Sewer <br />• Land costs significantly higher than competing sites in adjacent locals <br />Immediate Recommendations <br />❑ Enter discussions with Mebane to increase capacity within water & sewer agreement <br />❑ Have Planning Department interact with the Economic DevelopmentDepartment on a regular <br />(monthly) basis and during infrastructure planning stages. <br />❑ Work with the Towns &revisit intergovernmental agreements to make sure they are <br />conducive to the needs of Economic Development <br />❑ Approach property owners about willingness to sell their properties within the Buckhorn, <br />Efland and Hillsborough EDD's / CITAN's <br />