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Nov- 14-96 11 :01A Coleman Gledhill Hargrave 919 732 7997 6 <br /> MCCOLMICK&HINSON,P.A. <br /> A77049 va^T uw <br /> TMCOMINTO"MMMM <br /> 976 AJFJW ROAD,!um ISO <br /> C ummLt,Moms m um 27614 <br /> I"G. WASphoft (919)42f7171 <br /> E#X W.MrAWN fitsimdle (919)92967219 <br /> KAPAWw a.OL&M c-MU ftfino@awA,ma <br /> MEMORANDUM <br /> TO: The Chapel Hill-Canto"City Board of Education <br /> and Dr.Neil G.Pedenea,Snperlateademt <br /> FROM: John G. McCorafch,School Board Attorney <br /> RE: RewhMen requesting Ck*W Comely,NC to acquire tide to new Eementary <br /> school site(Southern Village Elementary School) <br /> DATE: November 1,19% <br /> In Apeil of 19%, Southern ViUase Limited Puoaership executed a deed donating <br /> approximately 6.195 acm of laud in the Southern Village arm Chapel Hill,Osage County,NC <br /> to the Board of Education. This land is to be ft core site for the coatsamion of a thew <br /> elenaerxy school,(herein referred to as"Southern Village Elelonanta y) In order to finance the <br /> construction of Southern Village Flemnealary and od w site is, (range County and <br /> the Hound of Education will utilize tlsss special legislation which was posed is 1993 and known <br /> as Senate Bill 1679,now codified as N.C. Gees. Stet. 1153A-158.1. G.S. 1153A-158.1 allows <br /> [range County and the Board of Education to enter into an Intergovernmental AWmemt to <br /> obtain private finawmg using the land,school building and other site itnptovemcuts as collateeral <br /> for the private financing Joni. Under the Ia----- - tan-- Agrccment,the Board of Education <br /> will grant title to the property to Orange County and Otaatge County will grant the Bnard of <br /> FAucative a long term lease for use of the property. At the end of the term of the private <br /> Snatncing loan, which coincides with the tarn of the long term lease. Orarsge County will deed <br /> the property back to the Hoard of Fducation. This finaming method was utilized for the <br /> construction of McDwSk Elementary School and the use of bkDavoe Elementary School by <br /> the Board of Educaion is controlled by an Intn veanwcatal Agreement which is similar to the <br /> aS reemeat cootianpla sed in this case. <br /> Aga*the 6.195 an tract is to be the con site of Sou*=Village Menrentary. Under <br /> plums dvvelope d by llakan Corley Rodfoot Zack,Inc.,(architects for the project),it is saticipated <br /> that otter lands will need to be acquired. Current plans call for d se acquisitions to be obtained <br /> at least partially through a land-swap between the Board of Bducuion and the Town of rhatiel <br /> Hill,which owns adjoining land. <br /> 7A 19MA rOGNIN g >01Wd0MW 6T.'.l6Z66T6 61:81 9661/ZT/TT <br />