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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: March 7, 2023 <br /> Action Agenda <br /> Item No. 8-j <br /> SUBJECT: Two Proposed Contract Amendments to the Existing Three-Year Interlocal <br /> Agreement between Orange County and the Town of Chapel Hill Joint Funding <br /> for the "LAUNCH, Inc." Small Business Incubator <br /> DEPARTMENT: Economic Development <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 1) October 21, 2021 Signed Orange Steve Brantley, Director, Economic <br /> County and Chapel Hill LAUNCH, Development, (919) 245-2326 <br /> Inc. Interlocal Agreement <br /> 2) Proposed Contract Amendment <br /> PURPOSE: To approve two proposed contract amendments to the current three-year Interlocal <br /> Agreement between Orange County and the Town of Chapel Hill that financially supports the <br /> LAUNCH, Inc. entrepreneurial small business incubator. The amendments are based on 1) <br /> LAUNCH, Inc. having physically moved from 306 West Franklin Street, Chapel Hill to 136 East <br /> Rosemary/137 East Franklin Street, Chapel Hill; and 2) LAUNCH, Inc. now using the County's <br /> funds to support operating expenses as opposed to lease payments. <br /> BACKGROUND: The award-winning LAUNCH innovation center, previously located at 306 West <br /> Franklin Street in Chapel Hill, has been promoting the growth of small businesses in Orange <br /> County since its creation in 2012. The County's cost to participate in the 50/50 co-funding <br /> Agreement with the Town of Chapel Hill is paid directly from Orange County's Article 46 sales tax <br /> funds that support core economic development initiatives. LAUNCH also receives financial and <br /> mentoring support from the University of North Carolina. <br /> The attached Interlocal Agreement between the Town and County represents the current three- <br /> year Agreement, approved by the Orange County Board of Commissioners on October 19, 2021, <br /> and expiring on December 31, 2024, continuing the joint economic development sponsorship that <br /> has been shared equally between Orange County and the Town of Chapel Hill since 2012. <br /> Orange County's current $18,375 quarterly financial commitment (or $73,500 annually) under the <br /> three-year Interlocal Agreement has been paid from the County's Article 46 economic <br /> development category specifically designated to nurture entrepreneurial development. This <br /> expenditure has been included in the County Manager's budget as one of the existing economic <br /> development initiatives funded from Article 46. The Town of Chapel Hill contributes the same <br /> level of funding as the County, with UNC Chapel Hill also providing significant financial support. <br />