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2 <br /> developing Town-owned property located on Old NC 86 as an affordable, light manufacturing <br /> commercial park. <br /> Trish McGuire said the property, located across from the Twin Creeks park property, was <br /> originally purchased by the town in 2001 to be used for a new public works facility. In response <br /> to the Board of Aldermen's interest in expanding opportunities for flex/light manufacturing <br /> commercial space, staff has begun studying the property for this alternative use. Preliminary <br /> study reveals a building program of approximately 90,000 square feet of warehouse/flex <br /> commercial space is possible. The site plan illustrates four (4) 20,000 square feet buildings <br /> and the possibility of two or more, smaller 5,000 to 10,000 sq. ft. building footprints. The <br /> improvements would be taxable assets with an estimated tax value of$9,000,000, which would <br /> result in 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 annexation into <br /> the Town limits. <br /> The Town is seeking input from the BOCC on development parameters that can be included in <br /> a Request for Proposals (RFP). This input will be included in the development of site design <br /> criteria and building design elements, required square footage, ownership and leasing terms, <br /> including rent controls and other provisions. <br /> Trish McGuire said the process for gathering input from neighboring property owners is in <br /> preparation. The 22 acre parcel is currently zoned RR, Rural Residential, and would need to <br /> be 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 who would <br /> construct the project and lease the buildings for a defined period (e.g. 2 to 30 years). The <br /> primary goal is to keep the project affordable and therefore capable of attracting and retaining <br /> local manufacturers, service providers, craftspeople and artisans. <br /> She said 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 nature of <br /> the area. Buildings should have a rural character as illustrated in Attachment 1 a-2. The <br /> existing house on the front of the property could be preserved and used as a small retail <br /> location, to provide employees and local residents with basic staple groceries and some <br /> prepared food. <br /> As envisioned, the project would require public water and sewer which are available south of <br /> this property near Lake Hogan Farms, and a turning lane to accommodate turning traffic which <br /> should include employees, services vehicles, and delivery trucks only. The preliminary <br /> estimated cost of these improvements is $1,000,000. This cost may be an opportunity for an <br /> Orange County—Town of Carrboro collaboration on an economic development initiative. <br /> Orange County's role in this proposal would be related to the Joint Planning Area Agreement <br /> which includes a review and approval mechanism for a change in zoning. In addition, the <br /> Northern Transition Advisory Board would review the proposal. The County would also be <br /> responsible for considering a request from the town to partner on utility extensions and <br /> infrastructure improvements. <br /> Mayor Lavelle said this agenda item, and the next, are efforts by the Town to retain <br /> these types of commercial sites outside of the Town limits, as they are priced out of being <br /> within the Town limits. <br />