Agenda 10-19-2021; 8-f - Renewal of the Expiring Three-Year Interlocal Agreement between Orange County and Chapel Hill to Continue the Joint Funding for the “LAUNCH, Inc.” Small Business Incubator

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4 FINANCIAL IMPACT: The proposed new Interlocal Agreement requires Orange County to contribute $18,375 per quarter (or $73,500 annually) for up to three (3) years, or a total of up to $220,500 over the full 3 years. County funding is provided exclusively by Article 46's annual retail sales tax collections that support a variety of economic development activities to include the LAUNCH small business incubator. The annual payment amount proposed in the new Interlocal Agreement is already included in the County's fiscal year 2021-2022 budget to mirror the current Interlocal Agreement's identical annual contribution ($18,375 per quarter, or a total of$73,500 per year) under the existing Interlocal Agreement that expires on December 31, 2021. Therefore, there is no new budget impact. SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goal is applicable to this item: • GOAL: ENSURE ECONOMIC SELF-SUFFICIENCY The creation and preservation of infrastructure, policies, programs and funding necessary for residents to provide shelter, food, clothing and medical care for themselves and their dependents. ENVIRONMENTAL IMPACT: There is no Orange County Environmental Responsibility Goal impact associated with the proposed renewal of the LAUNCH incubator and new interlocal agreement. RECOMMENDATION(S): The Manager recommends that the Board: 1) Continue the County's contractual relationship with the Town of Chapel Hill by approving the new Interlocal Agreement renewing the County's joint funding arrangement of the "LAUNCH, Inc." small business incubator for an additional three (3) years at the same annual financial commitment level that has been in effect for the past three (3) years, and 2) Authorize the Manager to sign the Agreement.