1-23-2020 Joint Meeting Between the Board of Commissioners, SAGA Executive Committee, Sanford City Council, and Broadway Town Commissioners 1-23-20

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a safe environment for the flying public to maintain, enhance, and protect public investment made in the airport and to take advantage of opportunities for growth and support of economic development in the region. Today's investment at the airport is in excess of$35 million. 50 people work at the airport on a daily basis. Upgrades include a rebuild of the runway in 2013, 30 new t hangers in 2017, taxi expansion from 35-50 feet, and a new terminal building with a 14,500 square foot facility. The airport has been working on an airport master plan to target future growth needs. Michael Smith, CEO of the Sanford Area Growth Alliance provided an update regarding SAGA's activities. Over the last five years SAGA has spent time building the organization, private capital, putting a great team in place, establishing policies and reestablishing the connectivity with Raleigh and the Economic Development Partnership of NC and the NC Department of Commerce. Marketing efforts include ads and publications on WRAL.com and through DCI along with a Triangle Business Journal insert. Public-private partnerships such as that which occurred with the shell building project and within Central Carolina Enterprise Park have been a huge success. The success of economic development projects is dependent on incentives and if a location and state are not competitive with incentives, we would not be able to attract the jobs we have. The number one story of 2019 in the Sanford Herald was the story of the "2019 Economic Development Boom Strikes Lee County." Convergent Nonprofit Solutions conducted a study to help determine where SAGA needs to be. Meg Moss is doing a great job with the Chamber of Commerce and fostering entrepreneurship in downtown Sanford. Mr. Smith also explained that incentives are performance based thus a company has to make a certain investment whether it be in building, upfitting a building, or machinery and equipment and create jobs at a certain wage level and pay at least 50%of employee health benefits to qualify. Mayor Donald Andrews from the Town of Broadway stated the town is searching for a new manager. He also mentioned there were 20 new jobs coming to Broadway in addition to increased residential growth. Mayor Chet Mann from the City of Sanford stated that Sanford experienced one of its best years in history in 2019. There was a huge change in tax base expansion. He stated that there were four primary goals with the "Open for Business Agenda" which includes working to creating a destination Sanford, continuing to support SAGA to create jobs, continuing quality of life initiatives, and continuing to work on things that create community pride. DFI, the Development and Finance Institute, performed a study that determined over 50% of the area in East Sanford is distressed. The neighborhood population is growing at least three times the rate of anywhere else in Sanford. The fastest growing population is families with young kids and people over the age of 55. Nearly one of four households is severely cost burdened especially with extremely low income renters. The key issue is under supply of housing. There is more than five times the demand than there is supply. To work on rehabilitating the area the City is planning to work with the County to collaborate and invest in creating valuable space in Temple Park. The hope is that the opportunity zone will attract development and 2