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Agenda - 09-05-2024; 6-a - Professional Services Contract with Development Finance Initiative (UNC School of Government) for Pre-Development Services for the Greene Tract and Approval of Budget Amendment #1-A
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Agenda - 09-05-2024; 6-a - Professional Services Contract with Development Finance Initiative (UNC School of Government) for Pre-Development Services for the Greene Tract and Approval of Budget Amendment #1-A
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8/29/2024 11:38:08 AM
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BOCC
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9/5/2024
Meeting Type
Business
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Agenda
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6-a
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7 <br /> This arrangement benefits the Client in several ways. It aligns DFI's interests with the Client in <br /> terms of finding developer(s) for the Project and attracting private investment. It also ensures <br /> the Project itself pays for a significant share of the Client's costs associated with the pre- <br /> development work. And it gives the Client ongoing support from DFI throughout negotiations <br /> with the developer(s) and during the full life span of development in the Project (i.e. DFI has <br /> "skin in the game"). There is no guarantee that a developer will be identified, so the <br /> consequences for DFI are clear—DFI will get the bulk of its fee only if there are developer(s) for <br /> the Project who successfully execute agreement(s) with the Client. <br /> DFI Project Team <br /> Our project team will be led by Associate Director Sarah Odio as the project lead, with support <br /> from Assistant Director Frank Muraca, Senior Project Manager Sonyia Turner, Associate <br /> Director Eric Thomas, and Director Marcia Perritt. In addition to more than a decade of <br /> experience with advising public and charitable institutions on public-private partnerships for <br /> development, DFI also has access to the resources of the entire School of Government faculty <br /> with expertise ranging from public finance to property tax to environmental finance. <br /> SARAH ODIO, ASSOCIATE DIRECTOR FOR HOUSING & REVITALIZATION <br /> As Associate Director for the School of Government's Development Finance <br /> Initiative, Sarah Odio specializes in affordable housing, and has helped urban <br /> and rural communities across NC understand their housing needs and attract <br /> private investment to mixed-use and mixed-income developments. She also <br /> oversees projects that range from commercial adaptive reuse to neighborhood <br /> revitalization, and has advised communities on post-disaster downtown <br /> recovery. Sarah joined the School of Government in 2016 as a graduate fellow <br /> while pursuing a master's degree in city and regional planning at UNC-Chapel <br /> Hill. Previously, she focused on community and economic development policy as an aide for a <br /> Miami-Dade County commissioner. Sarah earned a bachelor's degree from Vassar College. <br /> Select Relevant Experience: <br /> Buncombe County Ferry Road Mixed-Income Residential Community <br /> Durham County 300 & 500 E Main Mixed-Income Downtown Projects <br /> Salisbury, NC Kesler Mill Affordable Housing Project <br /> • West Southern Pines, NC Neighborhood Revitalization Strategy <br /> Apex, NC Affordable Housing Opportunity Site Identification <br /> FRANK MURACA, ASSISTANT DIRECTOR FOR DATA & <br /> ANALYTICS <br /> Frank Muraca joined the Development Finance Initiative as a graduate fellow <br /> in 2019 before becoming a full-time team member in 2020 as a Real Estate <br /> Development Analyst. He became the Assistant Director for Data & Analytics <br /> 5 <br />
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