Agenda - 09-29-1999 - 8o - Laserfiche WebLink

Browse Search

ORANGE COUNTY BOARD OF COMMISSIONERS Action Agenda Item No. 8 - pr ACTION AGENDA ITEM ABSTRACT Meeting Date: September 21, 1999 SUBJECT: NC Industrial Recruitment Competitive Fund Nomination for Barber and Ross DEPARTMENT: Economic Development Commission PUBLIC HEARING: (Y/N) 1Vo ATTACHMENT(S): INFORMATION CONTACT: Guidelines and Application Dianne Reid TELEPHONE NUMBERS: - -ext. 2325 Hillsborough 732-8181 Chapel Hill 968-4501 Durham 688-7331 Mebane 227-2031 PURPOSE: The North Carolina Department of Commerce is nominating Barber and Ross Company for a $50,000 grant from the North Carolina Industrial Recruitment Competitive Fund. The grant will come from the Department of Commerce, will match the County's Utility Fund Extension grant, and will come through Orange County for disbursement. BACKGROUND: At its September 7, 1999 meeting, the Orange County Board of County Commissioners approved a grant of $50,000 from the Utility Extension Fund for Barber & Ross Company to connect the sanitary waste stream from their renovated facility in the Buckhorn Road Economic Development District to the existing sanitary sewer line located on Route 70, Barber & Ross is applying for a matching grant from the Governor's Industrial Recruitment Competitive Fund in the amount of $50,000. This fund is intended to be used in the form of challenge grants to foster public/private partnerships and must be matched by local units of government. The $50,000 jJtility Fund Extension Grant will be used to supply the match for the Industrial Recruitment Competitive Fund application. In accordance with the guidelines for application for an Industrial Recruitment Grant, the grant will be used for the construction of or improvement to, new or existing publicly owned water, sewer, gas, or electric systems owned and operated by regulated private utility companies. Companies that are awarded funding will receive the funds in four increments as each 25% of the total jobs promised are created. The NC Department of Commerce will issue payments from the fund to the local unit of government, which will then disburse the funds in a timely fashion and in line with the requirements of the Local Government Budget and Fiscal Control Act.