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ORD -2024 - 025 ! � I5 <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 /> item on this September 5 , 2024 Business meeting agenda , the existing <br /> In a separate agenda <br /> contract for Master Plan services with Thomas & Hutton is proposed to be extended in the event <br />