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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: December 13, 2016 <br /> Action Agenda <br /> Item No. 6-j <br /> SUBJECT: Southern Branch Library — Letter of Intent (LOI) to Authorize Negotiating a <br /> Development Agreement Regarding the 203 S. Greensboro Street Site <br /> DEPARTMENT: County Manager's Office <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 1) Site Illustrative Bonnie B. Hammersley, 919-245-2306 <br /> 2) Draft Letter of Intent John Roberts, 919-245-2318 <br /> 3) Carrboro Timeline <br /> 4) Carrboro Agenda Abstract <br /> PURPOSE: To approve a non-binding Letter of Intent ("LOI") between Orange County and the <br /> Town of Carrboro to authorize the County Manager and Town Manager to begin negotiating a <br /> development agreement for a Southern Branch Library on Carrboro's 203 S. Greensboro site. <br /> BACKGROUND: In early 2016 the governing Boards for Orange County and Carrboro <br /> respectively authorized the County Manager and the Carrboro Town Manager to begin <br /> discussions regarding the Town-owned 203 S. Greensboro parcel as a site for the stand-alone <br /> Southern Branch Library and associated parking (note Attachment 1, "Site Illustrative"). <br /> Discussions of other potential uses that could benefit Carrboro are also underway. Town <br /> regulations allow for a multi-story structure on the property with an estimated maximum capacity <br /> of 50-60,000 square feet of development space on 2-5 levels. <br /> Since reporting last in the early spring, Carrboro has been working with consultants to study <br /> existing and projected parking conditions and demands as well as its own space needs to inform <br /> future decisions, including those related to the potential development of the 203 S. Greensboro <br /> property. These studies are ongoing, but have been completed to a point to where the <br /> Managers can begin negotiating an Agreement that would govern a development partnership for <br /> this site. <br /> Attachment 2, "Letter of Intent ("LOI"), serves as the non-binding framework for this discussion <br /> and is being presented simultaneously this evening to the Board or Orange County <br /> Commissioners and the Carrboro Aldermen. The purpose of this LOI is to authorize the Town <br /> and County Manager to negotiate a development agreement. <br /> Carrboro's timeline associated with this project is depicted in Attachment 3. Orange County has <br /> appropriated project funds for a stand-alone library with associated parking within its FY2016- <br /> 2021 Capital Investment Plan. Attachment 4 reflects the Carrboro Agenda Abstract that is being <br /> presented and discussed by the Carrboro Board of Aldermen. <br />