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Agenda - 04-29-2004-1
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Agenda - 04-29-2004-1
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9/2/2008 12:32:52 AM
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4/29/2004
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Agenda
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Minutes - 20040429
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3 <br />planned $7.7 billion (predominantly federal and state funded) investment in improvements aver <br />the next 25 years, local and regional agencies will need to raise an additional $10 billion ($680- <br />million per year) for unfunded improvements identified in regional plans. The objective of the <br />study was to develop a regional long-term transportation strategy including cost estimates and <br />funding options. The Regional Transportation Strategy team supports local transportation <br />revenue legislation that would include both a sales tax on motor fuel and an increase in vehicle <br />registration fees, two of the many regional funding options identified in the study. Other local <br />revenue options identified in the study included rental car tax, property tax, occupancy tax, real <br />estate transfer tax, impact fees and unobligated bonds. <br />A strategy for funding transportation projects is a regional priority to ensure continued federal <br />transportation funding and a high quality of life far the area. The Environmental Protection <br />Agency has designated eight counties, including Orange County, in the Chapel Hill-Durham- <br />Raleigh area, as non-attainment areas far the new 8-hour ozone standard. Transportation <br />plans for those areas must demonstrate conformity with air quality requirements, and must <br />include reasonable revenue sources for implementing the plans. <br />The Durham-Chapel Hill-Carrboro Metropolitan Planning Organization 2025 Long Range <br />Transportation Plan (LRTP), approved for air quality conformity (under the "old" standard) by <br />the DCHC Transportation Advisory Committee in June 2003, includes a 5% motor fuel tax and a <br />$20.00 increase in vehicle registration fees as new revenue sources to make up the shortfall <br />between projected traditional revenue sources and revenue needed for plan projects. <br />Funding for transportation projects is a problem in other areas of the state and North Carolina <br />has established a Blue Ribbon Commission to study the unique mobility needs of urban areas <br />in North Carolina including innovative financing approaches to mitigate urban congestion and <br />local revenue options. <br />Attachment 5a - 04/15/04 "News and Observer" Transit Funding Article <br />Attachment 5b - 04/f 9/04 `News and Observer" Transportation Funding Editorial <br />6. Update on Work Resulting from Economic Development Summit <br />At its planning retreat for FY2003, the Orange County Economic Development Commission <br />(EDC) committed to prepare a strategic plan to guide EDC work aver the next five years (the <br />previous plan was completed in 1996). To begin the process, the EDC held an economic <br />summit on .January 7, 2004 attended by over 120 citizens, business professionals, elected <br />officials and entrepreneurs. Building on visions previously articulated by town and county <br />entities, as well as an on-line survey conducted by the EDC, summit participants examined <br />criteria and specific strategies for economic development. A summary of the Summit <br />proceedings is shown in Attachment 6a. <br />Based on small group work, participants identified four key themes, with work groups farmed <br />around each to develop strategies, action steps, and implementation plans by July 1, 2004. <br />The elements included in the scope of the four work groups are as follows: <br />Strateoies to Create a More Friendly Business Climate - Criteria for a desirable business in <br />Orange County; regulatory issues; outreach to and support for existing businesses; actions <br />needed to improve the local business climate for farmers; packaging positive economic, social <br />
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