Land in Granville County is controlled by way of a private developer—Millridge Companies. The Hub has executed a set of equity participation agreements and installment purchases to control most of the Warren County site. A letter of intent to take control of most of the Vance County site has been transmitted and arrangements should be completed shortly. In Franklin County the initial Hub site was abandoned due to it being economically unfeasible. Currently the Hub and Franklin County is negotiating for a separate parcel in Franklin County which will become the new Hub site.
An Administrative Agreement has been negotiated between the Hub and the Kerr-Tar Regional C.O.G. to provide administrative and facilitative staffing services for the KTREDC.
KTREDC has successfully completed its first year of operation under the Interlocal Agreement and begun the second year with a full year of planned budget, and administrative and site development activities.
KTREDC solicited Request for Qualifications (RFQ) statements from several companies to engage a company to assist in coordination of a Master Land Use Plan for the KTREDC. O’Brien Atkins was selected to coordinate the process.
KTREDC received the final Cluster Study Report from the Carolina Center for Competitive Economies at UNC. That material is being used to target and attract business to the Hub for the Master Planning Process.
General Assembly Appropriation
An appropriation was received from the N.C. General Assembly and has been designated to be used for land acquisition and infrastructure. KTREDC continues its efforts to secure grants and appropriations from State and Federal governments.
Private-Sector Fund Raising
Catalyst Resources has been engaged to assess the feasibility of conducting the KTREDC in a private sector fund-raising effort.
Partners with RTRP
KTREDC has become an institutional partner in the RTRP and meets regularly with other Triangle area Institutional Partners.
Status of 501-c-3
KTREDC is in the process of securing its designation as a 501-C-3 non-profit entity and has responded to request from IRS to complete this process.
As control of the Hub sites is quickly being obtained, the Marketing Committee of KTREDC is embarking on an intensive marketing campaign.