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25 <br />4 H.11 <br />developable acres adjacent to rail within XX miles of the interstate, queries would be run to find <br />the best parcels available. Once the data is assembled running queries can be run quickly. <br />BUDGET $15,000 to $25,000 <br />Study Recommendations <br />Consider advantages of developing "Ready to Go" product. Could form a public - private <br />partnership. <br />❑ Shovel /Pad Ready Sites <br />❑ SpecBuildings <br />Approximately 60 -70% of inquiries come in for Shovel / Pad Ready Sites and /or Existing <br />Buildings. Shovel ready and speculative building has some risk based on the financial <br />investment needed to develop sites; however, it is best way to reduce development timelines <br />and has proven to be a successful model in other locations throughout the state. <br />BUDGET: $50 to $100 per SF for Spec Buildings (including site work) <br />$50,000 to $100,000 per acre for Shovel /Pad Ready Sites <br />Study Recommendations <br />Consider gaining "control" of properties (i.e. option agreements) with high development <br />potential. These sites would be identified with the GIS Site Selection Study. <br />Approximately 60 -70% of inquiries come in for Shovel / Pad Ready Sites and /or Existing <br />Buildings. Shovel ready and speculative building has some risk based on the financial <br />investment needed to develop sites; however, it is best way to reduce development timelines <br />and has proven to be a successful model in other locations throughout the state. <br />BUDGET: $100 to $200 per acre for options <br />Study Recommendations <br />Reinitiate Discussions & explore developing a research park with UNC Chapel <br />Hill and taking advantage of the research and entrepreneurial culture of the Research Triangle <br />Park (RTP). <br />Developing a relationship with UNC and developing a common goal to create a research park <br />could be an easy step to help the County and University attract talent and industry to the region <br />similar to other Universities throughout the Country. <br />BUDGET: Staff Time <br />Comparable University Parks- graph <br />Other Considerations <br />❑ Re- evaluate and potentially reallocate funds for existing water and sewer projects that appear <br />to have minimal ROI. <br />❑ Evaluate and enhance the express "review process to make sure it is consttent with "fast - <br />track" permitting in the site selection market. <br />❑ Pursue grant opportunities for top sites (this will most likely require property cbntrol'). <br />❑ Gold Leaf <br />❑ Duke Energy Site Readiness Program <br />❑ Evaluate underdeveloped interchanges in the county (Exit 263 & 266 in particular). <br />Recommendation Per Area <br />Buckhorn EDD <br />❑ Work with Flea Market property owner on land price vs comps <br />❑ Complete due diligence items for available properties <br />❑ Work with the City of Mebane to increase water and sewer availability <br />Hillsborough EDD <br />