ORD-2012-025 Ordinance Amending the Chapel Hill Joint Planning Transition Area Zoning Atlas

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l - s- /.2-) C.) 11c Section 4. The Clerk to the Board of Commissioners is hereby authorized and directed to mail or deliver a certified copy of this Resolution to the Board of Trustees of Triangle Transit within three days after passage hereof. Section 5. This Resolution shall take effect upon its passage. VOTE: Ayes, 5; Nays, 2 (Commissioner McKee and Commissioner Yuhasz) C. Approval of a Settlement Resolution Authorizing an Exchange of Properties Between Orange County and Eno River Parking Deck. LLC, and Approval of Budget Amendment#9-B The Board considered approving a resolution regarding settlement with Eno River Parking Deck, LLC, authorizing the purchase for$1,000,000 and the exchange of properties valued at$580,000 pursuant to North Carolina General Statute 160A-271 to purchase the Eno River Parking Deck, and approving Budget Amendment#9-B and authorizing the Chair to sign. John Roberts said that Orange County has been involved in a tenant/lease agreement for several years and this has caused many issues. He said that these issues led to litigation between owners of the deck and Orange County. Out of that mediation, a potential settlement was reached, which would be that Orange County would purchase the Eno River Parking Deck for the price of$1 million cash, plus the two buildings at 112 and 118 North Churton Street, which have a combined assessed value of$508,000. The parking deck has a replacement value of$2.9 million. If the County Commissioners will approve that property exchange, the case gets settled and Orange County would own the Eno River Parking Deck. Regarding the lease, the County leased this for 40 years initially and there are 37 years remaining. It leased 200 spaces at$1 a space plus half of the maintenance costs. Initially, Orange County contributed $2.3 million to the construction of the deck, which was approximately a $5.2 million construction cost in an overall project which involved the Library, the office building, and Gateway Center. The County pays $200 a year, plus $25,000 in maintenance costs. Regarding the sculpture, John Roberts' recommendation is to remove the sculpture because it is old cast iron and he has evidence that children have been playing on it. If it is left there, then the County would need some kind of liability insurance. John Roberts made reference to Financial Impact and said that the additional costs are actually$20-25,000 for closing costs and inspections. ORANGE COUNTY BOARD OF COMMISSIONERS RESOLUTION AUTHORIZING EXCHANGE OF PROPERTY WHEREAS, Eno River Parking Deck, LLC owns a multi-level parking facility ("Parking Deck") (PIN 9874052667) on Nash and Kollock Street, Hillsborough, North Carolina; and WHEREAS, Orange County leases approximately 200 parking spaces ("Leased Spaces") in the Parking Deck; and WHEREAS, Orange County and Eno River Parking Deck, LLC (the "Parties") are currently engaged in litigation regarding the Leased Spaces; and