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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 />50 <br />14 <br />• Total expenditure budget - $1,689,036 — offset by occupancy tax <br />• Budgeted Occupancy Tax Revenue Increase of 5% — ($64,633) <br />• Advertising and Marketing Increase - $200,780 <br />• Occupancy Tax Revenue History (chart) <br />Commissioner Rich asked Laurie Paolicelli if the occupancy tax increase is for hotels <br />and /or Airbnbs. <br />Laurie Paolicelli said this is just the hotels, but Airbnb has an agreement with the <br />County, where it remits taxes. She said this line item is starting to grow. <br />Commissioner Rich said it may be good next year to separate these from each other. <br />Laurie Paolicelli said that is a good idea, and she expects this amount to grow as <br />Carrboro and Hillsborough have increasing numbers of whole house rentals on Airbnb. <br />Article 46 Sales Tax — page 62 <br />o Total projected collections - $3,651,952 <br />0 50% or $1,825,976 Allocated to Schools and Distributed by Average Daily <br />Membership (ADM) <br />• Chapel Hill - Carrboro City Schools - $1,108,367 for Technology <br />and Facility Improvements <br />• Orange County Schools - $717,609 for Technology <br />0 50% allocated to Economic Development - $1,825,976 - chart <br />Article 46 Economic Development Sales Tax Distribution FY 2018 -19 Recommended (pie <br />chart <br />Commissioner Rich said there is a large balance in the small business loan line item, <br />and this should be spent down as people are questioning the amount in there. <br />Steve Brantley said this balance fluctuates with repayments, and some businesses have <br />recently repaid their full balances. He said the Town of Carrboro asked about a new business, <br />seeking financial assistance from the County. He said the Carrboro loan program is a bit <br />different from the County's program, and he does not think the programs can be combined; but <br />there can be supplemental loans. <br />Commissioner Rich said there is some chatter out there that more should be spent on <br />the smaller, local companies. <br />Steve Brantley said half of the small business loan grant funds go to Chapel Hill and <br />Carrboro small businesses, and none of the grants can go to companies with revenues over a <br />million dollars. He said about half of the funding goes to Hillsborough based companies, and <br />the LaUNCh incubator funding is in Chapel Hill. <br />Commissioner Price asked if the incentives recipients could be identified. <br />Steve Brantley said that is primarily for Morinaga. <br />Commissioner Price referred to page 63 - food farm products — and asked if there is a <br />reason for the budget change with this item. <br />Steve Brantley said the County received a grant from the NC Department of Agriculture <br />to fund the NC Crop loan, which is a micro loan for Piedmont Food and Agricultural Processing <br />Center (PFAP) tenants. He said the first loan from this was made to Seal the Seasons. He <br />said these funds had a matching requirement, which is fulfilled by Weaver Street Market. <br />Commissioner Jacobs said Asheville has regulations for Airbnb properties, and asked if <br />Orange County has something similar. <br />Laurie Paolicelli said no, and she said it is time to look into this item. She said <br />Commissioner Rich is bringing this to the VB board. She said there is an unlevel playing field <br />