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10 <br /> As a result, Board of Commissioner leadership, supported by the strong <br /> endorsement of public and public agencies, the two Chambers of Commerce, and <br /> our locally elected officials, proposed to enact a supplemental "'/4 cent retail sales <br /> tax" in early 2011. Following a year-long public information campaign on the merits <br /> of the proposed 1/4 cent sales tax and its' uses, Article 46 was successfully passed by <br /> Orange County voters in a November 2011 referendum. The Orange County's <br /> 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 <br /> equally fund both education and economic development, and, for an initial 10-year <br /> test period. The core uses of Article 46 as proposed to voters in 2011, today <br /> generally follow the same key programs that were adopted in the Resolution by <br /> Board of County Commissioners 7 years ago. <br /> The County received the initial Article 46 funds from the N. C. Department of <br /> Revenue beginning in the spring of 2012. Since that first year, annual revenues <br /> (estimated at a total of $2.5 million in 2011) are split 50/50 between Education (for <br /> Orange County Schools & Chapel Hill/Carrboro City Schools) & for the County's <br /> Economic Development program, with each group receiving approx. $1.25 million for <br /> that year. By 2018, the County's total Article 46 revenues are higher and projected <br /> to be approximately $3.6 million total for the new fiscal year, due to the County's <br /> steady 5% - 7% annual growth rate from our local economy's rising retail sales <br /> collections. <br /> Within the Economic Development portion of Article 46 funds ($1,825,976.00 <br /> estimated for the FY 2018-2019 budget), approximately 50% - 60% of annual <br /> proceeds have historically funded long-term debt obligations for the cost to install <br /> water & sewer lines in the County's various Economic Development districts. To <br /> date, two major utility projects to install needed infrastructure in the Efland, Buckhorn <br /> Road & Mebane areas have been completed. The County's successful recruitment <br /> of the Morinaga factory was made possible by the completion of this initial utility <br /> work. Current business prospect activity is now expanding and seriously focusing on <br /> new sites that have more recently gained utility line infrastructure. <br /> Of the remaining 50% of the County's Economic Development annual Article 46 <br /> funds, a variety of successful programs have since been created and are underway <br /> to support the growth, expansion & retention of existing small businesses, promote <br /> new business recruitment, entrepreneurial incubator support, and local agriculture & <br /> food processing. These programs, to include the award winning LAUNCH incubator, <br /> the County's small business loan and grant programs, the renowned agriculture/food <br /> processing grant program, and related collaborative business networking events held <br /> with the Towns, directly benefit the local economies of Carrboro, Hillsborough & <br /> Chapel Hill by supporting their many small businesses. <br /> Special events & new programs that further enhance the County's & Towns' <br /> economy and livability are also funded by the remaining half of Article 46 funds <br /> dedicated to Economic Development, to include the annual Orange County <br /> Agriculture Summit, the new LocalFest event, a reintroduction of the annual Orange <br /> County Economic Summit, and, innovative support for the "Orange Connect" <br /> scholarship program for Orange County's students attending the Hillsborough <br /> campus of Durham Technical Community College. <br />