Agenda Abstract -Joint Meeting Discussion Items

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The development has also committed to bus stops for public transit. The Town is available and anxious to discuss these locations with Orange County Transportation staff at the appropriate time. The Boards can discuss issues related to this item as necessary, and staff will be available at the meeting. No Attachments 3. Economic Development a) Town/County Perspectives on Economic Development (Short/Mid/Long Term Plans and Mutual Objectives The Town does not have an adopted economic development plan or policy. However, the Town has consistently striven to maintain its tax base mix which is roughly 60% residential and 40% non-residential. Additionally, the Town Board has been increasingly interested in compact and connected development. The adoption of the Urban Services Boundary was a strong step in that direction and the Town Board has been committed to that boundary. The Town Board has also discouraged three different residential developers with potential projects within the boundary from pursuing requests for utilities or annexation at present as they were still located rather far from the core of town and were therefore less desirable. The focus of the Town’s economic development planner has been to respond to inquiries for new non-residential space and attempt to match users with available spaces, assist applicants navigating the planning processes, increase visibility of local events, and work with the chamber on growing its membership and serving as a voice for local business. The County has been working with the Town of Hillsborough on extending utility service to the Hillsborough Economic Development District. As part of the Utility Extension Agreement with the Town, McAdams Engineering has been retained to design the extension of sewer through the northwest to southwest quadrant of I-40 and Old NC 86. The infrastructure also includes a water loop system from Old NC 86 westward to improve water quality, quantity and pressure in the general area. The design is 95% complete with bids and construction later this year. Orange County Economic Development and Planning, in collaboration with Town of Hillsborough, have also submitted a grant request to the Golden Leaf Foundation for partial funding of the utility extension. More information regarding grant awards is expected in mid-April of 2018. Over the past 12 months, Orange County Economic Development responded to 14 separate investment prospect inquiries (light industrial, commercial, hotel, and warehouse) by submitting real estate data on available sites and commercial buildings in the Hillsborough market, to include Settlers Point, and generated 9 actual prospect visits during 2017. Several of these projects remain active. Throughout 2017, Orange County Economic Development managed the County’s “Small Business Loan” program to 6 existing businesses in Hillsborough, which 4