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9 <br />Opportunities <br />Chapel Hill has a finite number of development and infill opportunities. <br />Fortunately its attractiveness and development pressure should make <br />it possible to maximize these sites. To create value the Town should <br />shift its investment from the lower performing property types to higher <br />performing ones. This could be of the type of 140 W. Franklin, or low - <br />rise, high density projects in the core and along commercial corridors. <br />New construction on the parking lots and empty spaces between <br />downtown buildings, replacement of some non- historic structures, and <br />additional floors to current buildings will increase their tax yield. For <br />the few sites available for large scale redevelopment, such as shopping <br />centers, the town should ensure that the resulting use is worth the <br />limited supply of space. In other words, Chapel Hill should expect <br />new development to produce taxes as efficiently as its most efficient <br />development currently does. <br />The towns within Orange County are doing exceptionally well. And each <br />community has their moments of productivity that should be replicated. <br />The concentration of revenue productivity in the town center can afford <br />Ora nge County (Chapel Hill) Property Tax Rev enue Profile: 2413 Tax Yield per Acre <br />$416.667 -__... .. ..._._.. __ . ..__...._._. <br />$333.333 <br />$250.000 <br />U-) r <br />18 N <br />M O <br />8166.867 <br />CV <br />T T <br />s <br />O <br />O 0 <br />to O <br />C, <br />__ <br />O ti N ^ � CM7 CV tCM7 <br />In Cq I- N V' W C O O_ <br />as 4->6'z> � <br />$0 MMMCMERM <br />C <br />LL 4 R Y C tl lam' N L pp °: m i�d1 <br />t!J in 11�m ? CL S d N i 3 a, E V '2 T <br />M Cr o U 0 8 < U o o w o <br />co <br />A /�j <br />. Ac.Itl:r:ial ■ Cor rents! ■ YrM Jm `L p) r'f Urban S� <br />0 k. 1HrtxraiKCT . AA-MW <br />