TITLE: Title
Discussion on use of town owned property located 110 East Main Street - condo located above ACME Restaurant
PURPOSE: The purpose of this item is for the Board to discuss next steps for town owned property located at 110 East Main Street - condo located over ACME Restaurant.
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DEPARTMENT: Economic and Community Development
CONTACT INFORMATION: Annette D. Stone, AICP Economic and Community Development Director 919 918 7319
INFORMATION: The Town acquired the second floor condo located 110 East Main Street in July of 2013 as part of an economic development agreement with Fleet Feet Inc. The Town then leased the property back to Fleet Feet at a rate of $17 per square foot, TICAM not included. Fleet Feet vacated the property in November 2014. The Board has an opportunity to decide what to do with the property next. Options include, but are not limited to, developing it for co-working space, offering it for lease on the open market, selling the property or assessing it for future Town needs.
In December 2014, the Board of Aldermen discussed a proposal from the owner of Perch Studios, Betsey Elobgen, to utilize the condo for expansion of Perch Studios, a coworking space in Carrboro. Since that time, Ms. Elobgen has withdrawn her proposal; however, the Town has been approached by other coworking operators with interest in the space. And further, the Economic Sustainability Commission voted to recommend the Board of Aldermen consider putting the condo out for RFP seeking a coworking operator to occupy the space.
According to Forbes.com freelancers make up and estimated 34% of the total workforce in this country and that number is expected to increase to 50% by 20201 . The advantage to freelancing is the freedom to live wherever you choose. Carrboro offers an attractive quality of life and so is a perfect environment for freelancers. This has fueled a need for affordable working space where small start-ups, entrepreneurs ...
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