Orange County NC Website
Browse       Search
<br /> <br /> <br /> <br />MEMORANDUM OF UNDERSTANDING <br />BETWEEN <br />ORANGE COUNTY AND THE TOWN OF CHAPEL HILL <br /> <br /> <br />Funding for Joint CoStar Realty Information, Inc. Subscription <br /> <br />WHEREAS, North Carolina law authorizes counties to enter into agreements with third parties to <br />provide services under mutually agreed upon terms and conditions; and <br /> <br />WHEREAS, Orange County (“County”) and the Town of Chapel Hill (“Town”) wishes to provide <br />services or engage in joint economic development activities as designated herein, and its residents <br />and businesses would benefit from those services or activities. <br /> <br />NOW THEREFORE, the County and Town agree, through this Memorandum of Understanding <br />(“MOU”), to the following terms and conditions: <br /> <br />1. The County will pay the Town Seven Thousand Five Hundred and Eight Dollars ($7,508) <br />for each fiscal year 2024-2025 and 2025-2026 up to and not to exceed the total amount for both <br />fiscal years of Fifteen Thousand and Sixteen Dollars ($15,016). The funding will cover the <br />cost for Orange County to have one license (seat) through June 30, 2026 to CoStar Realty <br />Information, Inc. an online Real Estate Platform. CoStar Realty Information, Inc. provides <br />commercial real estate data and analytics, trends and future lookout for market, submarket, or <br />a custom set of commercial properties-with key performance indicators-based market research. <br /> <br />2. The Town shall invoice the County, in writing, each fiscal year. The County will then provide <br />to the Town annual funding to cover to cost of the County’s one license. <br /> <br /> <br />3. The County shall not be obligated to provide work, supplies, staffing, or other items or things <br />to the Town for the performance of its services or activities, unless otherwise outlined in the <br />request as referenced under point 2. No partnership, joint venture, or other relationship is <br />formed by entry into this MOU. <br /> <br />4. This MOU shall be effective from July 1, 2024 through and including June 30, 2026. <br /> <br />Wherefore the Parties hereto have set their hands and seals this 24 day of June, 2024. <br /> <br /> <br />_____________________ _____________________ <br />Orange County Manager Town of Chapel Hill <br /> <br /> <br /> <br /> <br />- 1 - <br />Docusign Envelope ID: B293E388-72D5-42D8-BEF9-8F99E5A8C9A4 <br />7/15/20247/23/2024