COG Comprehensive Annual Financial Report

space and pedestrian walkways connecting residence halls and the Kaplan Center for Wellness. At Guilford Technical Community College (GTCC), $34 million in renovations for the new Center for Advanced Manufacturing are coming to completion in the fall of 2018. The school’s transportation and welding programs will be located in the 250,000 square-foot building and will include a flex lab for use by companies for employee training. Overall, the Piedmont Triad region received $355 million in funding from the $2 billion state bond package, approved in March 2016. In 2017, the Construction Professionals Network of North Carolina announced Union Square Campus as the winner of the annual Star Award, given for an outstanding construction project between $10 million and $25 million. Phase I of the downtown university campus project was completed in August, 2016 with the opening of an 85,000 square foot building to house the Bachelor and Doctor of Nursing programs and a simulated surgical lab. The $37 million healthcare-related project was jointly planned by NC A&T State University, University of North Carolina - Greensboro, Guilford Technical Community College and Cone Health. A 7.5 acre site was selected in Greensboro’s South Elm Redevelopment area, of which 2 acres was donated by the City for this first phase of the project. City leaders also authorized funding up to $500,000 in other infrastructure improvements as well as building parking spaces associated with the building. Phase II of the project currently has no timetable but is to be funded by companies that will collaborate in its development and will focus on cybersecurity and product design, with a focus on corporate interest and job creation. As envisioned, the fully developed project would involve seven educational institutions in Greensboro and would be funded with public, private and state and federal grant contributions. The estimated long-term economic impact of this project is more than $500 million, according to a recent economic analysis study. Across from Union Square Campus, developers announced plans to build more than 90 apartments, town homes, and row houses in the South Elm Street development district. The proposed $27 million project will be instrumental in helping to revitalize the neighborhood which has been a major focus for City planners for over a decade. The City of Greensboro has required the developer to offer 51 percent of its units as affordable housing for people who earn up to 80 percent of the area’s median income. Other town homes and condominiums are expected to sell for between $150 thousand and $250 thousand, providing an opportunity for more people to own real estate in downtown Greensboro. The majority of construction should be completed by 2020. Since September 2014, NC A&T has ranked number one as the largest historically black college and university in the country. Fall 2018 enrollment numbers place NC A&T at 12,142 students, an increase of 1,600 students in the past five years. Much of the increase in enrollment numbers can be attributed to the institution’s newly revised strategic plan, A&T Preeminence: Taking the Momentum to 2023. The plan sets an enrollment goal of 14,000 students by its conclusion. In keeping with Council’s strategic focus on spurring economic improvement, the City solicited proposals to develop strategies for economic development in Greensboro that will result in new jobs, investment and business opportunities. This challenge is part of the $1 million grant received by the City from the U.S. Department of Commerce and Economic Development Administration’s Strong Cities, Strong Communities (SC2) program . Greensboro was one of three cities nationwide to receive the grant. The transformative economic development plans for Greensboro were received and checks awarded to six recipients in September 2015. The first place award of $500,000 was presented to a local team of educators and business professionals for proposing the Global Opportunities Center in Greensboro that would connect and educate students and businesses in innovative ways to create global business and career opportunities. With the support of SC2 grant funds, the Global Opportunities Center opened its office in Downtown Greensboro in 2016. Greensboro and North Carolina in general are transforming from the traditional manufacturing base noted in the late 80’s and early 90’s to a strong service sector and high-tech presence with significant business diversification in recent years. The Greensboro-High Point metropolitan area ranked in the top ten once again in 2017 for regions of its size by Site Selection magazine for metro areas enriched by facility project investment from corporations. The ranking is based on the number of projects with capital investments of at least $1 million, related floor-space X