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9 <br /> <br />decide which type of development it wants to pursue, and some want research and <br />development, while others seek commercial. <br />Steve Brantley said staff wants all types of development, and Wake County has 13 <br />municipalities, which makes finding existing commercial office space easy. He said Wake <br />County also has industrial properties, and the comparable blue-collar job sites in Orange <br />County are going to be along the interstates in the EDDs. He said the Blue Cross Blue Shield <br />building represents an opportunity to land high tech companies, which have typically gone to <br />Raleigh, but this will not create the type of blue-collar jobs that many are looking for. He said <br />having both opportunities is ideal. <br />Commissioner Jacobs said Commissioner Price made a good point, and in addition to <br />look at land use, the County needs to consider what it wants to hunt. He said the Board <br />constantly hears negativity about Orange County as a place to develop economically, and the <br />County needs to promote the positive strengths in Orange County, and type of development it <br />can attract. <br />Chair Dorosin said he does think the focus in only on the negative, and there is a <br />sequence to this. He said there are broader questions from retreat: the need for larger parcels; <br />access to parcels; questions about set ups of EDDS, etc. <br />Chair Dorosin said one of the challenges of discussions like this is the desire to put their <br />arms around the entire concept, instead of taking incremental steps. <br />Travis Myren resumed the presentation: <br /> <br />Land Prices Relative to the Market (table: page 26) <br /> <br />Site Control Options <br />• Option Agreements <br />o 2% - 5% of the per acre cost for one year <br />o Example: $50,000 per acre for 50 acres = $50,000 - $125,000 <br />• Ownership <br />o Price will vary by site <br />o Example: $50,000 per acre for 50 acres = $2,500,000 <br /> <br />Prepared Product <br />• Shovel Ready or Pad Ready Sites <br />o $50,000 to $100,000 per acre <br />• Spec Buildings <br />o $50 to $100 per square foot <br /> <br />Other Opportunities <br />• Identify Additional Economic Development Partnerships with Towns <br />• Reexamine the Uses of Article 46 Sales Tax Revenue <br />• Investigate Research Partnerships with Area Universities <br />• Review Permitting and Regulatory Processes <br />o Overall Efficiency <br />o Identify Common Barriers or Misconceptions <br /> <br />Chair Dorosin said no one wants to abandon the EDDs, but there seemed a merging <br />consensus of revisiting the redevelopment of them. He said on the maps the EDDs look huge, <br />but in reality they are much smaller areas, in which to achieve some substantive economic <br />development.