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qj Es <br /> ORANGE COUNTY BOARD OF COMMISSIONERS <br /> A Resolution Regarding Uses of Potential Revenues <br /> from a One-Quarter Cent (1/4¢) County Sales and Use Tax <br /> WHEREAS, there are significant pressing infrastructure, economic development, school, and <br /> other County capital needs that are precipitated by growth pressures and the new economic <br /> reality facing Orange County; and <br /> WHEREAS, it is important to provide Orange County taxpayers with alternatives to the <br /> pressure to raise property taxes to address these and other County needs; and <br /> WHEREAS, the levy of a Article 46 one-quarter cent (1/4¢) County sales and use tax would <br /> provide a new County revenue source and would generate approximately $2,500,000 <br /> annually for the County; and <br /> WHEREAS, it is important for Orange County to plan for future economic development that <br /> will enable the County to recruit, retain, grow, and generate businesses and jobs that are <br /> desirable; and <br /> WHEREAS, it is important that Orange County expand collaboration and cooperation of <br /> economic development efforts and decisions between Orange County and the towns of <br /> Chapel Hill, Carrboro and Hillsborough and the cities of Mebane and Durham; and <br /> WHEREAS, it is important for Orange County to meet public school needs; and <br /> WHEREAS, the Board of Commissioners establishes a ten-year commitment to allocate <br /> Article 46 one-quarter cent (1/4¢) County sales and use tax proceeds as follows: <br /> a. 50% of the funding will be allocated in an equitable manner between the County's two <br /> school systems, based on the Average Daily Membership of each school system, for <br /> the dedicated purpose of funding capital projects, including but not limited to facility <br /> improvements at `older' schools and the procurement of technology. The Board <br /> requests that each school system furnish the Board of Commissioners with a detailed <br /> list of prioritized projects that could be completed with anticipated funding over the <br /> next ten years. The Board will evaluate the projects and approve a ten-year plan <br /> which will be incorporated into the County's Capital Investment Plan. As part of the <br /> Capital Investment Plan annual review, progress will be evaluated annually and <br /> adjustments made according to needs agreed upon by the School Boards and Board <br /> of County Commissioners; <br /> b. 50% of the funding will be allocated to Economic Development initiatives <br /> generally as shown on the attached chart and the Board of Commissioners will <br /> approve a ten-year Economic Development Plan as part of the County's Capital <br /> Investment Plan; and <br />