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1 <br /> ORD-2024-025 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: September 5, 2024 <br /> Action Agenda <br /> Item No. 6-a <br /> SUBJECT: Professional Services Contract with Development Finance Initiative (UNC School <br /> of Government) for Pre-Development Services for the Greene Tract and Approval <br /> of Budget Amendment #1-A <br /> DEPARTMENT: Planning and Inspections <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 1. DFI Scope of Services Perdita Holtz, Deputy Director, 919- <br /> 2. Letters of Support from the Towns of Chapel 245-2578 <br /> Hill and Carrboro Cy Stober, Director, 919-245-2592 <br /> 3. Greene Tract Master Plan and Entitlement <br /> Timeline <br /> 4. Year-to-Date Budget Summary <br /> PURPOSE: To authorize the County Manager to sign a contract on behalf of Orange County to <br /> procure a professional services contract with the Development Finance Initiative (DFI) for pre- <br /> development services for the Greene Tract and to approve Budget Amendment #1-A to provide <br /> for the total cost of the project. <br /> BACKGROUND: With the anticipated conclusion in late September/October of the current <br /> community engagement and Master Plan efforts on the jointly-owned Greene Tract, the three <br /> local government owners/partners (Orange County and the Towns of Chapel Hill and Carrboro) <br /> are looking ahead to the next necessary phase of realizing development of the Greene Tract. An <br /> in-depth financial feasibility analysis of the Master Plan is necessary, including an analysis of <br /> providing housing at various levels of affordability and public investment support. Additionally, a <br /> development partner(s) must be identified and selected. <br /> Staffs have identified the DFI program at the UNC School of Government as uniquely suited to <br /> perform the necessary analyses and project marketing to private sector developers (both non- <br /> profit and for-profit) who would construct the Master Plan. DFI partners with communities "to <br /> attract private investment for transformative projects by providing specialized finance and real <br /> estate development expertise." The Scope of Services for the proposed contract is included in <br /> Attachment 1. Letters of Support from the Towns of Chapel Hill and Carrboro are included in <br /> Attachment 2. <br /> Many of the tasks in the Scope of Services are expected to be completed in a 12-18 month <br /> timeframe. However, the contract with DFI will be for 10 years, until December 1, 2035, as DFI <br /> will be a partner in soliciting private sector developers to bring the Master Plan to on-the-ground <br /> fruition, which may occur in phases. <br /> In a separate agenda item on this September 5, 2024 Business meeting agenda, the existing <br /> contract for Master Plan services with Thomas & Hutton is proposed to be extended in the event <br />