HomeMy WebLinkAbout2012-384 Economic Dev - Town of Chapel Hill interlocal agreement to support business incubator STATE OF NORTH CAROLINA
INTERLOCAL AGREEMENT
COUNTY OF ORANGE
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This INTERLOCAL AGREEMENT("Agreement")is hereby made and entered into this the day
of 'L. ,2012,by and between ORANGE COUNTY,hereinafter referred to as("County"), and the TOWN
OF CHAPEL HILL, hereinafter referred to as ("Town") pursuant to N.C. Gen. Statute 160A460 et seq.,
160A-17.1 and other applicable laws.
WITNESSETH:
WHEREAS, County and Town desire to enter into a partnership whereby local startup businesses have more
opportunities to remain in Orange County and Chapel Hill.
NOW, THEREFORE, in consideration of the mutual covenants, promises and agreements contained herein,
the parties hereto agree as follows:
1. County Grant. County shall grant to the Town $140,000. This grant shall be payable quarterly in
installments of ten thousand dollars ($10,000). Town acknowledges and agrees the full amount, which
shall not exceed $140,000, shall be expended by Town for the sole purpose of establishing a small
business incubator/joint working space at 321 West Rosemary Street, Suite 110, Chapel Hill, North
Carolina (the "Small Business Incubator"). County and Town agree this grant is the full extent of the
County's contribution. Town shall be responsible for conducting any statutorily required public hearing
prior to the expenditure of any grant funds.
2. Town Obligation. Town shall be responsible for payment of the rental obligation of the Small Business
Incubator property using the County grant, together with Town resources, in order to maintain the
property's availability for lease and sublease as a Small Business Incubator.
3. Term. The term of this Agreement shall commence the year and day first above recorded and shall
continue for a period of forty-two(42)months.
4. Reporting. Town shall on or before July 1 annually during the term of this Agreement provide a report to
the Orange County Manager detailing the expenditure of the grant funds described in Section 1 above.
Upon request by County,Town shall provide County with any audit or underlying documents necessary to
verify the contents of the annual report. In the event such report or documents are not provided County
may suspend grant installments until such time as the report or documents are provided.
5. Force Majeure/Emergency Non-Appropriation. In the event Town or County should be delayed in, or
prevented from,performing or carrying out any of the agreements, covenants, or obligations made by, and
imposed upon, said Party by this Agreement, by reason of or through any cause reasonably beyond its
control and not attributable to its neglect, including but not limited to condemnation, order of any court
granted in any bona fide adverse legal proceeding or action, explosion, fire or other act of God or public
enemies, and/or emergency non-appropriation, then,in each such case or cases, the affected Party shall be
relieved of performance under this Agreement.
6. Termination. The County and Town may terminate this Agreement upon mutual written agreement
approved by the County's and Town's managers. Either County or Town may terminate this Agreement
upon a material breach by the other. Material breach includes but is not limited to the failure by Town to
expend grant funds as required by this Agreement. Effective the date of termination any termination of
this Agreement relieves County of any further responsibilities or obligations established by this
Agreement.
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IN WITNESS WHEREOF,the parties have caused this Interlocal Agreement to be executed as of the day and
year first above recorded.
FOR 0 GE CO F CHAPEL
By: By:
Frank 3C11fton Ro Stanci
Orange County ager Cha Manager
This instrument has been pre-audited in the manner required by the Local Government Budget and Fiscal
Control Act.
Orange County Di-rector of Financial
and Administrative Services
This instrument hn been pre-audited in the manner required by the Local Government Budget and Fiscal
Control A
C1 tzs
Town f Chapel IAI—I Finance-6ir—ector
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