Minutes 10-17-2017 - Laserfiche WebLink

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13 c. Orange County Southern Branch Library Development Agreement The Board received an update regarding the Draft Development Agreement with the Town of Carrboro with regard to the potential development of the Orange County Southern Branch Library; and will consider authorizing the Manager to execute the Development Agreement upon final review of the County Attorney. Bonnie Hammersley said there was concern about the parking, and she was able to get onsite parking into the agreement. She said the parking deck may be offsite, but there will be onsite parking at the library site. She said the Town of Carrboro understood this and was supportive, and the location of the parking deck has yet to be determined. She said this will be discussed further at the joint meeting with the BOCC next week. Jeff Thompson, Asset Management Services Director, reviewed the following information: BACKGROUND: On December 20, 2016, the Board of Orange County Commissioners ("BOCC") and the Carrboro Board of Aldermen ("BOA") approved a non-binding Letter of Intent that authorized the County and Town Managers to negotiate a Development Agreement with regard to the Orange County Southern Branch Library located on the Carrboro owned parcel at 203 South Greensboro Street. Through the spring and summer months, the County and Town Managers and staffs negotiated the attached draft Agreement (Attachment 1 — "Draft Development Agreement"). Jeff Thompson reviewed some of the key points of the agreement below: Development Agreement Highlights 1. The Town and County Managers and staff have crafted and reviewed the draft Development Agreement language attached. Key negotiated points are as follows: i. Section III.K— Operating Subsidy. The Managers have a tentative agreement for Carrboro to install a $70,000 fiber-optic internet and networked communications infrastructure set as well as the ongoing support for this service in lieu of its cash and in- kind subsidy to the Cybrary. This service is part of a larger infrastructure investment sponsored by UNC. Should UNC terminate the service, replacement service terms will be negotiated between the County and Town at that time. Carrboro will be responsible for providing service within this negotiated framework. ii. Section IV—Allocation of Project Costs (Land, Site, Off-Site, Vertical Building, and Vertical Parking Structure). The Managers and staff have discussed the Elements of Value schedule (Exhibit C to the Development Agreement) to identify these cost sharing elements as either: 1) wholly owned by each Party (ex: interior space upfit); 2) equally shared; or 3) proportionally shared. These cost allocations are to be finalized by the County and Town no later than 45 calendar days after schematic design drawings are approved by both Boards. The Managers tentatively agree as follows: 1. Land costs: Owned by Carrboro, no contribution required by the County; 2. Design and permitting costs: Equally shared; 3. Parking Structure: shared proportionally based upon adequate parking needs as derived and designed during the design phase of the project. The Managers also agree that the overall parking design, space assignment, and management plan is to