Commissioners direct county manager to study options for creating a funded Economic Development Commission
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Summary
After receiving options for restructuring economic development functions and discussing retirement-system membership, funding models and required surety, commissioners asked the county manager to assemble a detailed packet and timeline for potential transition to a funded Economic Development Commission; motion passed 4–1.
The county manager presented research on options to update Person County's economic development organizational structure, including the possibility of funding the Economic Development Commission (EDC) as a public authority that could hire staff and carry out development functions.
Manager said there are multiple models used in North Carolina: a county department, a funded public authority, a nonprofit partner, or hybrid models. She flagged key constraints and steps if the county moves to an EDC funded as a public authority, including the need to consult the Local Governmental Employees' Retirement System, the requirement to set aside a surety equivalent to approximately one to two years of salaries to cover potential unfunded liabilities, and additional administrative costs (auditing, finance officer, etc.).
Commissioners discussed funding models (including a dedicated funding source similar to the TDA), the feasibility of providing initial operational funding in the coming budget cycle, and possible timelines tied to the retirement-system application (an April 30 submission could align with a July 1 effective date). The board directed the county manager to request the recommended packet and timeline and return with more specifics; that motion carried 4–1.
No structural change was approved on Jan. 5; the direction was to prepare information for future consideration and possible budget planning.