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Reference Materials for 01-25-2019 Board Retreat
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Reference Materials for 01-25-2019 Board Retreat
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1/25/2019
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Agenda and Meeting Plan - 01-25-2019 Board Retreat
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\Board of County Commissioners\BOCC Agendas\2010's\2019\Agenda - 01-25-19 Board Retreat
Minutes 01-25-2019 BOCC Retreat
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\Board of County Commissioners\Minutes - Approved\2010's\2019
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51 <br /> Attachment 4- B <br /> Economic Development <br /> Intergovernmental Cooperation Opportunities <br /> Brief Historical Overview <br /> As a brief review of Article 46's origin in late 2011 and the intended outcomes for Orange <br /> County, recall the economic environment at that time, both nationally and at the state and local <br /> levels, which was entering a deep economic recession causing severe budget shortfalls, rising <br /> unemployment and stagnant business growth. At the Orange County level, leadership <br /> recognized an immediate need to assist our residential homeowners, who have traditionally <br /> shouldered the largest portion of the County's annual revenue contribution, by finding ways to <br /> diversify the local tax base toward greater non-residential revenue sources (such as increased <br /> retail sales taxes, and attracting the presence of more large scale commercial and light industrial <br /> property taxpaying generators). The strong recession at that time also presented real threats to <br /> Orange County's current and future educational funding commitments for public schools, and so <br /> Article 46 was also proposed to assist that area to maintain our community's strong level of <br /> annual financial support for our local school systems. <br /> New ideas began to emerge about how to stimulate entrepreneurial, home-grown technologies, <br /> further support the local agriculture and food systems character of our region, support our many <br /> small businesses, and, encourage the growth and attraction of larger corporate taxpayers. The <br /> County's long-standing economic development districts, which had existed dormant for over 25 <br /> years, without the aid of appropriate zoning, water and sewer utilities, recruitment incentives or <br /> marketing to actually aid our economy, were determined to be critical assets that should finally <br /> receive capital support and help make them become more productive drivers for the County's <br /> long-range economic vitality. A focus to finally emphasize those economic development <br /> districts and commercial transition nodes, which are all located along the rural interstate <br /> highways,became a main envisioned use of Article 46 funding to be allocated for the County's <br /> economic development program. <br /> As a result, Board of Commissioner leadership, supported by the strong endorsement of public <br /> and public agencies, the two Chambers of Commerce, and our locally elected officials, proposed <br /> to enact a supplemental "1/4 cent retail sales tax" in early 2011. Following a year-long public <br /> information campaign on the merits of the proposed '/4 cent sales tax and its' uses, Article 46 was <br /> successfully passed by Orange County voters in a November 2011 referendum. The Orange <br /> County's Board of Commissioners then adopted a Resolution in December 2011 to outline the <br /> purpose of the new"Article 46" funds. This new revenue stream was determined to equally fund <br /> both education and economic development, and, for an initial 10-year test period. The core uses <br /> of Article 46 as proposed to voters in 2011, today generally follow the same key programs that <br /> were adopted in the Resolution by Board of County Commissioners 7 years ago. <br /> The County received the initial Article 46 funds from the N. C. Department of Revenue <br /> beginning in the spring of 2012. Since that first year, annual revenues (estimated at a total of <br /> $2.5 million in 2011) are split 50150 between Education(for Orange County Schools & Chapel <br /> Hill/Carrboro City Schools) & for the County's Economic Development program, with each <br /> group receiving approx. $1.25 million for that year. By 2018, the County's total Article 46 <br />
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