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Resolution Supporting Orange County Contract for Financial Feasibility Services by the Development Finance Initiative (DFI) for the Greene Tract
PURPOSE: The purpose of this agenda item is to request that the Town Council consider adopting a resolution of support for Orange County proceeding with financial feasibility services related to the development of the Greene Tract Master Plan.
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Department
DEPARTMENT: Planning
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Contact
CONTACT INFORMATION: Trish McGuire, Planning Director, pmcguire@carrboronc.gov, 919-918-7327; Marty Roupe, Development Review Administrator, mroupe@carrboronc.gov, 919-918-7333; Duncan Dodson, Planner, ddodson@carrboronc.gov, 919-918-7340
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Council Direction
COUNCIL DIRECTION:
___ Race/Equity ____ Climate __ Comprehensive Plan __X__Other
Council Direction Statement
The Town’s commitment to working with our local government partners to support the Rogers Road community achieve community interests for the Greene Tract is extensive and longstanding. Information related to the Greene Tract, in particular and the current jointly adopted resolution for its future use may be found at Greene Tract | Orange County, NC (orangecountync.gov) <https://www.orangecountync.gov/3070/Greene-Tract>.
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Information
INFORMATION:
In late 2023, Orange County contracted with Gensler to provide community engagement services for a Greene Tract Master Plan. In early 2024, the County contracted with Thomas & Hutton to provide design services for a Greene Tract Master Plan. These contracts were entered into with the support of the joint property owners, the Towns of Chapel Hill and Carrboro, which have paid 43% and 14%, respectively, of the contract costs. The two consultant teams and staffs of the three local governments have been working together with the community throughout 2024 to create a Master Plan for development of the Greene Tract.
With a community-supported Master Plan near completion, the need to conduct a financial feasibility analysis of the Master Plan was identified. To this end, Orange County, with the support of the Towns of Chapel Hill and Carrboro, seeks to enter into a contract with the Development Finance Initiative (DFI) at the UNC School of Government.
DFI will conduct several iterations of the financial feasibility analysis, at varying levels of affordability, so that informed decisions can be made by the property owners (the three local governments) regarding development of the property. The contract with Thomas & Hutton will also be amended and extended to provide any necessary modifications to the Master Plan that result from the financial feasibility analysis. DFI will also eventually market the project to private sector developers (both non-profit and for-profit) who would construct the Master Plan.
Updated information from Gensler, Thomas and Hutton, and DFI will be provided in October, and a separate agenda item designated funds for this work will be scheduled for Town Council action.
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Fiscal and Staff Impact
FISCAL IMPACT: Carrboro’s share of the costs of market feasibility analysis will be $18,536 payable in equal installments over two years (an annual amount of $9,268). The contract amendment for Thomas & Hutton to support DFI’s work on an as needed basis is for up to $8,540 (14% share of $61,000). Funds for this work have not been designated in the FY25 Annual Budget.
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Recommendation
RECOMMENDATION: A resolution expressing Town support for Orange County proceeding with the contract for the Financial Feasibility services is provided for the Council’s adoption (Attachment A).