Orange County NC Website
RES -2023 - 056 0 00 C � Ja3 Attachment 1 <br /> RESOLUTION <br /> ORANGE COUNTY BOARD OF COMMISSIONERS <br /> ORANGE COUNTY, NORTH CAROLINA <br /> WHEREAS , the Chapel Hill- Carrboro City Schools Board of Education wishes to enter into <br /> with Kerala Capital Partners , LLC for approximately 25 , 532 square feet of a lease for real property w <br /> office space located at 521 South Greensboro Street, Carrboro , North Carolina pursuant to N . C . Gen . <br /> Stat . § 115C - 530 ; and <br /> WHEREAS , the lease will require the Board of Education to pay Kerala Capital Partners , <br /> LLC in approximate installments of $ 531 , 823 . 20 in the 2023 -24 fiscal year, $ 542 , 459 . 66 in the 2024 - <br /> 25 fiscal year, $ 553 , 308 . 86 in the 2025 -26 fiscal year, $ 564 , 375 . 03 in the 2026 -27 fiscal year, and <br /> $ 575 , 662 . 54 in the 2027 -28 fiscal year ; and <br /> WHEREAS , the lease is subject to the provisions of N . C . Gen. Stat . § § 115 C - 441 (c 1 ) and <br /> 115C - 530 , including the approval of the Orange County Board of Commissioners ; <br /> NOW, THEREFORE , BE IT HEREBY RESOLVED , that the Orange County Board of <br /> Commissioners approves the lease of real property between Chapel Hill- Carrboro City Schools and <br /> Kerala Capital Partners , LLC , and understands that the Chapel Hill- Carrboro City Schools District <br /> will use available funds from the School District ' s capital budget to meet the Kerala Capital Partners , <br /> LLC lease obligations , so long as the amount the Board of Education shall be obligated to pay under <br /> that lease shall be generally equal to the amounts noted above . Said funds obligated by this lease for <br /> fiscal years 2023 -24 , 2024 -25 , 2025 -26 , 2026 -27 , and 2027 -28 shall be budgeted by the Board of <br /> Education for this purpose, and the Orange County Board of Commissioners shall not be obligated to <br /> increase its annual appropriation to the Orange County Board of Education by the amount due under <br /> the contract . <br /> Adopted and resolved, this the �� day of September 2023 by the Orange County Board of <br /> Commissioners . <br /> JamQkiia RVdford ., Chair to <br /> Or ge County Board of Commissioners <br /> 17 �i •• <br /> Laura Jensen _ <br /> *CIla Clerk to the Board 1 ` <br />