Land Acquisition & Control
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.
Administrative Agreement
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.
Interlocal Agreement
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.
Master Planning
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.
Cluster Study
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.
Marketing Committee
As control of the Hub sites is quickly being obtained, the Marketing Committee
of KTREDC is embarking on an intensive marketing campaign.
