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2 <br /> response to the Board of Aldermen's interest in expanding opportunities for flex/light <br /> manufacturing commercial space, staff have begun studying the property for this <br /> alternative use. <br /> Preliminary study reveals a building program of approximately 90,000 square feet of <br /> warehouse/flex commercial space is possible (See Attachment 1 a-1). The attached <br /> site plan illustrates four (4) 20,000 square feet buildings and the possibility of two or <br /> more, smaller 5,000 to 10,000 sq. ft. building footprints. The improvements would <br /> be taxable assets with an estimated tax value of $9,000,000 which would result in <br /> approximately $79,020 in annual County property tax revenues, $18,756 for the <br /> Chapel Hill/Carrboro City School district and $53,046 in town revenues upon <br /> annexation into the Town limits. <br /> The Town is seeking input from the BOCC on development parameters that can be <br /> included in a Request for Proposals (RFP). This input will be included in the <br /> development of site design criteria and building design elements, required square <br /> footage, ownership and leasing terms, including rent controls and other provisions. <br /> A process for gathering input from neighboring property owners is in preparation. <br /> The 22 acre parcel is currently zoned RR, Rural Residential, and would need to be <br /> rezoned for low impact commercial uses that generate little or no customer trips. <br /> The concept is for the town to retain ownership and lease the land to a developer <br /> who would construct the project and lease the buildings for a defined period (e.g. 2 <br /> to 30 years). The primary goal is to keep the project affordable and therefore <br /> capable of attracting and retaining local manufacturers, service providers, <br /> craftspeople and artisans. <br /> Other elements to be included in an RFP would focus on preserving the feel and <br /> character of the property with careful thought be given to the aesthetic and the rural <br /> nature of the area. Buildings should have a rural character as illustrated in <br /> Attachment 1a-2. The existing house on the front of the property could be <br /> preserved and used as a small retail location, to provide employees and local <br /> residents with basic staple groceries and some prepared food. <br /> As envisioned, the project would require public water and sewer which are available <br /> south of this property near Lake Hogan Farms, and a turning lane to accommodate <br /> turning traffic which should include employees, services vehicles, and delivery <br /> trucks only. The preliminary estimated cost of these improvements is $1,000,000. <br /> This cost may be an opportunity for an Orange County — Town of Carrboro <br /> collaboration on an economic development initiative. <br /> Orange County's role in this proposal would be related to the Joint Planning Area <br /> Agreement which includes a review and approval mechanism for a change in <br /> zoning. In addition, the Northern Transition Advisory Board would review the <br /> proposal. The County would also be responsible for considering a request from the <br /> town to partner on utility extensions and infrastructure improvements. <br /> Staff will provide any other information at the meeting, and the governing boards <br /> can discuss issues related to this item as necessary. <br />