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2 <br /> On June 21, 2011 the Board of Commissioners approved an updated Resolution regarding uses <br /> of potential revenues from a One-Quarter Cent (1/4¢) County Sales and Use Tax (Attachment 2). <br /> Below are the initial categories identified for the 50% Economic Development portion of the <br /> funding. <br /> Focus Area Percentage of Funds Estimated Annual <br /> Expenditures <br /> Debt Service on 60% $750,000 <br /> Infrastructure <br /> • Installation of backbone water and sewer infrastructure in Economic <br /> Development Districts <br /> • Fiber optic availability for non-residential development as appropriate <br /> • Approximately 60% of allocated funds will be used for debt service annually for <br /> the next 10 years <br /> Collaborative Outreach 1.5% $15,000 - $20,000 <br /> • Marketing and prospect recruitment, including trade shows targeted to specific <br /> business clusters <br /> • Collaborative development projects with municipal partners <br /> • Industry Appreciation events allowing Orange County industries the opportunity <br /> to network with other businesses and local and state officials <br /> • Development of a Local "Economic Health" Summit, providing a regular update <br /> of the County's Economic Development programs and provide an assessment <br /> of the County's economic health <br /> collateral Materials 1.5% $20,000 <br /> • Creation of materials inventory to support marketing efforts, both in <br /> cooperation with our municipal partners and stand-alone materials <br /> • Update Orange County Economic Development's online presence <br /> Innovation Space 5-10% $75,000 - $125,000 <br /> • Foster the local growth of university-affiliated entrepreneurs <br /> • Support transition from university to private sector, such as providing lease <br /> subsidies <br /> • Work with municipal and/or university partners to identify specific areas of <br /> targeted assistance <br /> Agriculture Economic 2-20% $25,000 - $250,000 <br /> Development <br /> • Provide limited capital support to PFAP for processing equipment that can add <br /> value to Orange County farm products <br /> • Provide support to local farmers to strengthen their product marketing and <br /> promotion <br /> • Continue to develop support network for new farmers <br /> • Provide assistance for food entrepreneurs that have graduated from PFAP <br /> Business Investment 8% $100,000 <br /> Grant <br /> • Facilitate marketing Orange County to prospective businesses <br /> • Client support for site preparation, relocation assistance, or site investigations <br /> • Competitive pursuit of tar eted projects <br /> Small Business Loan T0-16% Up to $200,000 for the first <br /> Program few years <br /> • Start-up capital and expansion funds for Orange County small businesses <br />