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42 <br /> Slide #7 <br /> Proposed DFI Contract (cont.) <br /> • Contract cost to property owners (Orange County and Towns <br /> of Carrboro and Chapel Hill): $132,400 over 2 fiscal years <br /> — 43% Orange County/43% Chapel Hill/ 14% Carrboro <br /> • County's share is$56,932 <br /> — Letters of Support from the Towns are in Attachment 2. <br /> • DFI is also compensated by the eventual developer(s)who <br /> pay 1%of the project costs directly to DFI as a Development <br /> Services Fee. <br /> — There are clauses in this contract that address the <br /> property owners'obligation to include this payment in <br /> future contracts with developer(s). <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Slide #8 <br /> Pre-Development Feasibility & <br /> Developer Identification Services <br /> _FV"qqWPr qq-qq" <br /> FV_ Site Public <br /> Analysis Interests <br /> .- sible <br /> .. <br /> Plan <br /> Market Financial <br /> Analysis Feasibility <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Marcia Perritt with Development Finance Initiative said that they are a program within the <br /> UNC School of Government. She said they have worked with over 250 communities in NC on real <br /> estate projects, including pre-development feasibility studies. <br /> Commissioner Hamilton asked to hear about a project that did not go forward and the <br /> circumstances surrounding that decision. <br /> Marcia Perritt said she can and that they still see that as a success because the goal is to <br /> provide objective, neutral information that helps the decision makers decide. She said that certain <br /> things are outside of their control such as political will, the scale of public engagement, or the <br /> planned density not as palatable to the community, to name a few. She said that they worked with <br /> Town of Davidson in 2016. She said they were contemplating redoing their town hall into denser <br /> mixed-use development that would extend their downtown corridor. She said that once the <br /> community saw the level of density needed to minimize the amount of public investment, the <br />