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26 <br /> <br /> <br /> <br /> <br />What can Economic Development afford the County? A realistic scenario…graph <br />Real Estate Tax Rate: $0.8377 per $100 <br /> <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 /> <br />County <br />Buckhorn EDD – Optimistic Build Out 3.1M 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 /> <br />Immediate Recommendations <br /> Enter discussions with Mebane to increase capacity within water & sewer agreement <br /> Have Planning Department interact with the Economic Development Department 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