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4 <br />OC EDC Director Brad Broadwell updated members on the happenings and progress of <br />his first month with the EDC. <br /> <br />Board member and Commissioner Chair Barry Jacobs reported on some of the Countys <br />budget approvals and cuts. He also reported on the current progress of Buckhorn. <br />Discussion followed. <br /> <br />The floor was turned over to Laurie who on behalf of the Board, staff and area leaders <br />said goodbye to Liz Parham and presented her with a proclamation designating her as a <br />tourism leader in Chapel Hill and Orange County. Parham resigned as Director of the <br />Downtown Partnership to take a position with the State and will relinquish her seat on the <br />VB board as a result. <br /> <br />Liz Parham then gave an update of downtown happenings in Chapel Hill. Liz reported <br />that the downtown area is busy with campers but to some businesses, the summer is still <br />challenging. There is a net gain in new businesses leaving a 6% vacancy rate, which is <br />low. New construction for Cypress on the Hill is underway. Offices are filling vacancies, <br />creating 50 jobs. The parking lot beside the Lantern has been rezoned and will become <br />available. Developers are looking to reopen The Rathskeller, The Rat. The Chapel <br />Hill Council will review funds availability, publicly and privately, for an ally way in <br />downtown. <br /> <br />OLD BUSINESS <br /> <br />No old business to report <br /> <br />ADJOURNMENT <br /> <br />Chair Pavao requested a motion to adjourn, Convissor so moved to accept with Frances <br />Dancy seconding. With all business of the Board completed, Chair Pavao adjourned the <br />meeting at 9:30 a.m. <br /> <br />________________________________ _________________________________ <br />Minutes Drafted by: Minutes Accepted by: <br />Laurie Paolicelli, Executive Director Lee Pavao, Chair <br /> <br />________________________________ _________________________________ <br />Date Date