ORD-2024-025-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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that adjustments to the Master Plan resulting from community engagement efforts are necessary as a result of the financial feasibility analysis DFI will complete . The proposed DFI contract is one part of overall efforts to develop the Greene Tract in accordance with community desires , to include affordable housing . Other processes , such as " entitlement" (zoning approval ) by the Town of Chapel Hill will run concurrently with DFI ' s and Thomas & Hutton ' s work . The entitlement process is expected to be in the form of a Development Agreement and is expected to commence in October 2024 . Attachment 3 is a DRAFT timeline of the Master Plan and Entitlement , with the timeline subject to refinements as a variety of activities are underway that could necessitate updates . FINANCIAL IMPACT . Orange County allocated $ 399 , 800 for Greene Tract costs during FY 2023 -24 . The DFI ' s Scope of Services is for $ 132 , 400 , payable over two installments of $ 66 , 200 each , over two fiscal years . This creates a total project cost of $ 532 , 200 . Based on the 2021 Green Tract Interlocal Agreement , the Towns shall reimburse funds to the County based on the adopted cost share agreement of 43 % - Orange County , 43 % - Chapel Hill , and 14 % - Carrboro . Per the approved cost-share agreement for Greene Tract expenses , the resulting total financial impact to Orange County will be $ 56 , 932 funded by County Capital Reserves after it is reimbursed for costs by the municipal partners . Budget Amendment # 1 -A increases the General Fund authorization by $ 132 , 400 and County Capital Reserve by $ 567932 . DFI is also compensated by the chosen developer(s ) who will be required to pay DFI a Development Services Fee of 1 % of the total project costs . No local government contribution to the Development Services Fee will be necessary . ALIGNMENT WITH STRATEGIC PLAN : This item supports : • GOAL # 3 . HOUSING FOR ALL OBJECTIVE #4 . Prioritize and select County- owned land and /or facilities as part of an overall plan of facilities to create crisis , bridge , low barrier , affordable , and permanent housing . RECOMMENDATION ( S ) : The Manager recommends the Board : 1 . Approve and authorize the County Manager to execute and sign the contract after approval of content and form by the County Attorney ; 2 . Authorize the expenditure of up to $ 132 , 400 for professional services to provide Pre . Development Services for the Greene Tract Master Plan ; and 3 . Approve Budget Amendment # 1 -A .