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25 <br /> • FY2019-24 Capital Investment Plan <br /> o Authorized Southern Branch Library Construction Budget <br /> Professional Fees $1,172,500 <br /> Construction Cost $5,625,000 <br /> Total $6,797,500 <br /> o Carrboro Partnership and Development Agreement <br /> ■ Formalized 203 South Greensboro Street Site <br /> ■ Colocation of Library Space with Town Offices <br /> ■ Project Commencement Delayed due to Town Decisions on Parking <br /> Recent Board Action -June 2020 <br /> • Future Location of the Skills Development Center <br /> o Lease Approved on January 21 to Relocate Skills Development Center to Europa <br /> Center, Suite 101 <br /> o Three (3) Year Term with Option to Extend to Five (5) Years <br /> o Rent Increases by 3% Each Year <br /> Scope Decision for County Space at 203 South Greensboro Street <br /> Option #1 <br /> Add 12,600 Square Feet for <br /> Skills Development Center <br /> ➢ Budget Adjustments in the FY2020-25 Capital Investment Plan to Add Space and <br /> Include All Project Elements <br /> ➢ Approve First Amendment to the Development Agreement with Town of Carrboro <br /> (Attachment#3) <br /> Changes in Space Allocation - table <br /> Changes to Budget Estimates- table <br /> Budget Differences from Current Adopted Budget <br /> • Total Space Allocation Increases from 40.5% to 56% <br /> o Increases County Costs for Any Expenses Split Proportionally <br /> • Professional Fees <br /> o Redesign due to ArtsCenter Withdrawing from the Project <br /> o Increase in County Space Allocation <br /> o Design Fees for the Skills Development Center - $100,000 <br /> • Skills Development Construction <br /> o Add 12,600 square feet @ $315/square foot = $3,969,000 <br /> o Add 33 Parking Spaces @ $25,000 per space = $825,000 <br /> o Rent from 501/503 South Franklin Street to Cover$3.75 Million in Debt Service <br /> • Shared Space and Furniture, Fixtures, and Equipment <br /> o Common Area Addition - $1,008,000 <br /> o Furniture, Fixtures, and Equipment for Library ($750,000) and Skills <br /> Development ($500,000) <br /> • Owner's Contingency <br /> o Project Delivery Method Chosen - Construction Manager at Risk <br /> o Contingency @ 5% of Construction Costs - $588,850 <br />