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6 <br /> Slide #2 <br /> Purpose <br /> • Hold a public hearing on a proposed performance agreement between Orange County and <br /> Terra Equity,LLC{developer of the Research Triangle Logistics Park}to install public utilities <br /> into the Hillsborough Economic Development District(EDD) <br /> Consider approval of the performance agreement <br /> Con sider approval of a budget amendment to repurpose existing budgeted funds to provide <br /> the funding required by the performance agreement <br /> ORANGE COUNTY <br /> NORYI I CAROL]NA <br /> Slide #3 <br /> Background <br /> • Started as County Water and Sewer Rrokect in 2015 <br /> scope was to extend putIic water and sewer 8oMee under Interstate 40 to the boundary of the HIftborough <br /> EDD intended to-spur ecorromlc development activlly <br /> — Goumy would have served as the project owner and manager <br /> — TotE1 approved budget of$2,590.000 <br /> Feasibility and design work commenced <br /> County received sealed bids in 2019 <br /> — The lowed bld for the prolecl was$4.527,9 83 <br /> — Approximately $i_9mlllion over the budgmad amotont <br /> — Staff berm Io evaluale alternatives to dec reaee the constrmlion east <br /> No development aotivllyto thm polrrt <br /> ORANGE COUNTY <br /> 1 NQRYI I CAP-01-INA <br />