2015 1st Quarter Report

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Cary Innovation Center The Innovation Center is experiencing a reboot with new energy, passion and a focus on entrepreneurship and innovation. One of the Center's first ventures is the creation of a co- working space in the property that formerly housed Lucky Pie Gallery. This would be a complement to an existing coworking space in Downtown - Gather - two doors from Ashworth's. Downtown Cary Food & Flea This innovating idea was birthed by some Downtown residents and merchants to create an outdoor market experience on the 2nd Sunday of each month. The event takes place in the parking lot of Ashworth Village and is gaining in popularity from both vendor participation and customer attendance. Cofounders Capital The Town entered into a license agreement for the 3rd floor of 122 E. Chatham Street with David Gardner, Alex Osadzinski and Whitney Rowe who will be operating collectively as Cofounders Capital. Cofounders Capital will operate an intense entrepreneurial incubator for predominantly startup companies in the technology/app space. Cofounders Capital will be providing consulting services to the Town in exchange for the use of the space. The Triangle Business Journal, as well as The Cary News, have written several articles about this new venture. 2015 NC Legislative Agenda Council adopted its 2015 Legislative Agenda on January 15 and then presented that agenda to the Cary delegation on January 20. The delegation was receptive to the Town's requests. The following bills have been filed based on those requests: H73 Cary Annexation This would legislatively annex the Holly Brook subdivision as requested by homeowners. This bill has passed the House and awaits action in the Senate. & H337 Town of Cary/ Release Unneeded Easements This would provide authority for Town Council to delegate the release of unneeded easements to the Town Manager, which will increase efficiency by reducing bureaucracy as well as allow the Town to provide more timely assistance to landowners who request release of these easements because they are no longer needed. Both the House and Senate have passed this legislation; however, because they've each passed their own bill with identical provisions, it is necessary for one of the bills to pass on the other side to become law. H333 Town of Cary/Convey Property with Restrictions This would provide authority for the Town to convey property it owns with restrictions when restrictions would be in the public interest. This bill has been introduced, but no action has been taken. Specia ank... the entire delegation for supporting the Town's needs and especially to Representatives Adcock, Dollar, Hall and Reives and Senators Barringer and Stein for sponsoring these bills. Staff will continue to work with the delegation and our legislative consultants with the goal of getting these bills passed by the end of session. S248

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