1-6-22 Interlocal Committee Meeting

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City's estimated share of the cost in the expansion is $55 million. The City has been approved for a $20 million loan from the State Revolving Loan Fund, which would be financed at an interest rate of .13% with potential forgiveness opportunities available. Water rates may need to be increased to help pay for the immediate expansion, but the hope is over time that these rates may be lowered based on the additional revenue generated. II. Colon Road Update The available economic development property in the area is currently limited, which will impact the potential for future industrial growth. Public Works Director Victor Czar said the City has approval from the NC Department of Environmental Quality to spread the dirt pile located on the County's property in the Colon Road area and stockpile the dirt in the beneficial fill area. Goldenleaf has some available funding opportunities to grade sites and while the project at the Colon Road site was not recently funded, the City hopes to submit the site for consideration for the grant funds in the spring. The grant is up to a million dollars and would ideally be used to grade the site to pad ready condition. There are other properties of interest in the Colon Road area that could be considered for future industrial growth. Available product will be a topic of discussion at the All Boards meeting hosted by the Sanford Area Growth Alliance on January 20th at the Civic Center. Ill. Joint Operations at the Buggy Factory Progressive is interested in selling the Buggy Factory building currently leased by the City of Sanford, Lee County and the Sanford Area Growth Alliance to provide one stop shop convenience for development projects. Having the consolidated service availability has been a driver for considering the purchase of the building by the County. Before 2015, people had to go to four different locations around town to get the necessary approvals for projects. To have economic development, planning and environmental health all in one location has been convenient for the public and developers. City Manager Hal Hegwer said the City is running out of room for employees at City Hall and is exploring the idea of constructing an annex on site. There is about three years left on the current lease with Progressive. County Manager John Crumpton said if the plan is to secure the building, the hope would be to secure a deal as soon as possible. The County would need to get an appraisal on the building and secure lease commitments from the City of Sanford and the Sanford Area Growth Alliance before considering the purchase. IV. American Rescue Plan County staff has met with staff from the City of Sanford to work on ideas for allocation of American Rescue Plan grant funds and potential partner projects. The County has hired Fiscal Recovery Manager Jen Waterhouse to help manage the funds. Jen has put together an analysis of various projects that have been submitted. The County is also working on a survey, which will include five questions and demographic information. The link will be published on the website, social media, and the survey will also be available in the Health Department, Social Services, and the Library. The County will also be reaching out to some non-profits to get input on where they see the impact from COVID on low to moderate income communities. A version of the survey will be available at the All Boards meeting on January 20th for participants to take and will be reviewed during the meeting. After the All Boards meeting there will be a report of the results from the survey. The funds must be encumbered by December 2024 and spent by December 2026. One of the issues for some of the projects was being able