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2 <br /> that adjustments to the Master Plan resulting from community engagement efforts are necessary <br /> as a result of the financial feasibility analysis DFI will complete. <br /> The proposed DFI contract is one part of overall efforts to develop the Greene Tract in accordance <br /> with community desires, to include affordable housing. Other processes, such as "entitlement" <br /> (zoning approval) by the Town of Chapel Hill will run concurrently with DFI's and Thomas & <br /> Hutton's work. The entitlement process is expected to be in the form of a Development Agreement <br /> and is expected to commence in October 2024. Attachment 3 is a DRAFT timeline of the Master <br /> Plan and Entitlement, with the timeline subject to refinements as a variety of activities are <br /> underway that could necessitate updates. <br /> FINANCIAL IMPACT: Orange County allocated $399,800 for Greene Tract costs during FY <br /> 2023-24. The DFI's Scope of Services is for$132,400, payable over two installments of$66,200 <br /> each, over two fiscal years. This creates a total project cost of$532,200. <br /> Based on the 2021 Green Tract Interlocal Agreement, the Towns shall reimburse funds to the <br /> County based on the adopted cost share agreement of 43% - Orange County, 43% - Chapel Hill, <br /> and 14% - Carrboro. Per the approved cost-share agreement for Greene Tract expenses, the <br /> resulting total financial impact to Orange County will be $56,932 funded by County Capital <br /> Reserves after it is reimbursed for costs by the municipal partners. <br /> Budget Amendment #1-A increases the General Fund authorization by $132,400 and County <br /> Capital Reserve by $56,932. <br /> DFI is also compensated by the chosen developer(s) who will be required to pay DFI a <br /> Development Services Fee of 1% of the total project costs. No local government contribution to <br /> the Development Services Fee will be necessary. <br /> ALIGNMENT WITH STRATEGIC PLAN: This item supports: <br /> • GOAL # 3. HOUSING FOR ALL <br /> OBJECTIVE #4. Prioritize and select County-owned land and/or facilities as part of an <br /> overall plan of facilities to create crisis, bridge, low barrier, affordable, and permanent <br /> housing. <br /> RECOMMENDATION(S): The Manager recommends the Board: <br /> 1. Approve and authorize the County Manager to execute and sign the contract after <br /> approval of content and form by the County Attorney; <br /> 2. Authorize the expenditure of up to $132,400 for professional services to provide Pre- <br /> Development Services for the Greene Tract Master Plan; and <br /> 3. Approve Budget Amendment #1-A. <br />