AG 2012 12 17 - Laserfiche WebLink

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Major initiatives The County passed a ' / 4 cent sales tax referendum on May 17, 2011, which authorized the levy of an additional ' / 4 cent sales tax. This additional ' / 4 cent sales tax, which became effective on October 1, 2011, generated $4,022,348 dollars in revenues in FY 2012 (surpassing the budget by nearly a million dollars.) Collections of this additional ' / 4 cent sales tax will be used to pay debt service on indebtedness issued for schools. On August 31, 2011, the County refinanced all of the eligible 2002 and 2003 Certificates of Participation debt. The savings over the remaining 12 years totals $1,977,275 or 4.94 %. The overall yield is now 2.89 %. The County will experience this savings over the next 12 years at an amount of approximately $81,000 up to $176,000 per year. The Board of Commissioners' initiative to build a sustainable community continues to be their top priority. Efforts to maximize county tax dollars by reducing our energy use, natural resource consumption, and the conservation of valuable agricultural land and environmentally sensitive areas have become the norm instead of the exception. The County's Planning and Zoning Commission, the Food Policy Council, and the Council for a Sustainable Local Economy have worked very hard over the last year to update our land use plans and ordinances; educate our citizens about the nutritional value, availability, and financial benefits of a robust local food economy; and to identify existing and potential barriers to starting or sustaining a business in Cabarrus County. In addition, Economic Development and Improved Community Relationships have been identified as initiatives that are also very important when building a sustainable community. As a result, several projects are underway and should prove very beneficial to the County and its municipalities. The following is a list of a few of these projects: Cabarrus County, Concord and Kannapolis increased funding to the Cabarrus County Economic Development Corporation to enhance our ability to attract, create, and nurture businesses in the county. This additional funding will allow for two new projects to get started: a. The revision of our Small Business and Entrepreneurial Plan This plan will provide much needed assistance and resources to these sectors of our community as they look to create, expand, or relocate in Cabarrus County. b. The creation of Youth Entrepreneurs Academy will provide middle and high school students the opportunity to participate in a "shark tank" like experience. It will give them the tools to think like an entrepreneur and the practical knowledge to bring those ideas together and create small, medium, and large businesses in Cabarrus County. Efforts to improve relationships with our community partners, both public and private, are well underway. a. County and City management teams have met to discuss goals for economic development, land use regulations, sharing and /or consolidation of services, and public information. b. County management has become more involved in the activities of our Economic Development Corporation and the Regional Chamber of Commerce. By doing so, we have created relationships that will allow us to "keep our hands on the pulse" of the business community and hopefully assist them to create and sustain businesses here in Cabarrus County. c. The Board of Commissioners has reached out to our local school systems and the community college to better understand their issues and needs. This has resulted in the creation of a new Basic Law Enforcement and Corrections Training Facility now located within our Sheriff's Administration Building. In addition, the County's Information Technology staff is working very closely with the IT staff of the Cabarrus and Kannapolis City school systems to find efficiencies in services and funding while creating a secure and redundant system that meets the needs of each agency. Attachment number 1 1 -3 Page 259