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C! <br />The development has also committed to bus stops for public transit. The Town is <br />available and anxious to discuss these locations with Orange County Transportation staff <br />at the appropriate time. <br />The Boards can discuss issues related to this item as necessary, and staff will be <br />available at the meeting. <br />No Attachments <br />3. Economic Development <br />a) Town /County Perspectives on Economic Development (Short/Mid /Long Term <br />Plans and Mutual Objectives <br />The Town does not have an adopted economic development plan or policy. <br />However, the Town has consistently striven to maintain its tax base mix which is <br />roughly 60% residential and 40% non - residential. Additionally, the Town Board <br />has been increasingly interested in compact and connected development. The <br />adoption of the Urban Services Boundary was a strong step in that direction and <br />the Town Board has been committed to that boundary. The Town Board has also <br />discouraged three different residential developers with potential projects within the <br />boundary from pursuing requests for utilities or annexation at present as they were <br />still located rather far from the core of town and were therefore less desirable. <br />The focus of the Town's economic development planner has been to respond to <br />inquiries for new non - residential space and attempt to match users with available <br />spaces, assist applicants navigating the planning processes, increase visibility of <br />local events, and work with the chamber on growing its membership and serving <br />as a voice for local business. <br />The County has been working with the Town of Hillsborough on extending utility <br />service to the Hillsborough Economic Development District. As part of the Utility <br />Extension Agreement with the Town, McAdams Engineering has been retained to <br />design the extension of sewer through the northwest to southwest quadrant of 1 -40 <br />and Old NC 86. The infrastructure also includes a water loop system from Old NC <br />86 westward to improve water quality, quantity and pressure in the general area. <br />The design is 95% complete with bids and construction later this year. <br />Orange County Economic Development and Planning, in collaboration with Town <br />of Hillsborough, have also submitted a grant request to the Golden Leaf <br />Foundation for partial funding of the utility extension. More information regarding <br />grant awards is expected in mid -April of 2018. <br />Over the past 12 months, Orange County Economic Development responded to <br />14 separate investment prospect inquiries (light industrial, commercial, hotel, and <br />warehouse) by submitting real estate data on available sites and commercial <br />buildings in the Hillsborough market, to include Settlers Point, and generated 9 <br />actual prospect visits during 2017. Several of these projects remain active. <br />Throughout 2017, Orange County Economic Development managed the County's <br />"Small Business Loan" program to 6 existing businesses in Hillsborough, which <br />