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W 19 <br /> TOWN OF CARRBORO•NC <br /> FACING RACE,EMBRACING EQUITY <br /> development approval from the Town of Chapel Hill will get underway shortly. A Development <br /> Agreement will be utilized for zoning approval and annexation of the property in the Chapel Hill <br /> town limits will occur. The Development Finance Initiative (DFI) at the UNC School of <br /> Government in September 2024. DFI will conduct several iterations of the financial feasibility <br /> analysis, at varying levels of affordability, so that informed decisions can be made by the <br /> property owners (the three local governments)regarding the viability of implementing the master <br /> plan and developing the Greene Tract. The design team who prepared the Master Plan will assist <br /> in this process and the expectation is that DFI will also eventually market the project to private <br /> sector developers (both non-profit and for-profit)who would construct the Master Plan. <br /> Additional mitigation of any burdens, inequities, and unintended consequences will be identified <br /> and implemented as has been done with zoning changes Chapel Hill and Carrboro completed to <br /> implement the goals of the Mapping Our Community's Future community planning, this master <br /> planning for the Greene tract by using the tools of One Orange <br /> (https:Hcarrboro.legistar.com/LegislationDetail.aspx?ID=5398852&GUID=D3093EFE-6567- <br /> 4F6F-BAD1-55CBAECF126B&Options=&Search=)and focusing on protecting the character of <br /> the existing lower-density areas in the Rogers Road community while allowing for new homes <br /> and related uses. <br />