Agenda - 12-13-2016 - 6-j - Southern Branch Library – Letter of Intent (LOI) to Authorize Negotiating a Development Agreement Regarding the 203 S. Greensboro Street Site

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Attachment 4 6 TITLE: Approval of Letter of Intent with Orange County Regarding Southern Branch Library PURPOSE: The purpose of this item is to provide the Board of Aldermen with an opportunity to approve a non-binding letter of intent that formally communicates both party's interests in working cooperatively to explore development options on the Town's 203 S. Greensboro property for possible uses including the Southern Branch Library. DEPARTMENT: Planning and Manager's Office CONTACT INFORMATION: Trish McGuire, pmcguire @townofcarrboro.org, 919-918- 7327; David Andrews, dandrews @townofcarrboro.org, 919-918-7308 INFORMATION: Following the Board's consideration of the project status on April 5th (see https://carrboro.legistar.com/LegislationDetail.aspx?ID=2680872&GUID=E4231122-B65E- 4246-A863-C582CEE6F2A4&Options=IDITextl&Search=library and Attachment A, meeting minutes), staff has continued to work on the related projects—Parking Study/Plan, Space Needs Analysis— and has been in communication with Orange County staff on this effort. A letter of intent regarding the Town's intention and interest in preparing a development agreement for the project has been prepared for the Board's consideration(Attachment B). An updated timeline for the project, noting some more detail on the review, approval, and construction processes is provided(Attachment C). A possible ribbon cutting in early 2019 is projected. The Board of County Commissioners will be considering the draft letter and updated timeline during their meeting this same Tuesday evening, with the expectation that work on a development agreement between the Town and County will begin in earnest in January 2017. FISCAL & STAFF IMPACT: Administrative costs (legal and staff) are anticipated; neither of which are estimated to be extraordinary. RECOMMENDATION: It is recommended that the Board of Aldermen accept the agenda materials and consider approving the letter of intent.