Orange County NC Website
Browse       Search
ORD- QOia- OQQ <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: June 5, 2012 <br />Action Agenda <br />Item No. -7 - G <br />SUBJECT: Approval of a Settlement Resolution Authorizing an Exchange of Properties <br />Between Orange County and Eno River Parking Deck, LLC, and Approval of <br />Budget Amendment #9 -13 <br />DEPARTMENT: County Attorney PUBLIC HEARING: (Y /N) No <br />Financial Services <br />ATTACHMENT(S): <br />Attachment 1. Resolution <br />Attachment 2. Budget as Amended <br />Spreadsheet <br />Attachment 3. Year -To -Date Budget <br />Summary <br />INFORMATION CONTACT: <br />John Roberts, 245 -2318 <br />Clarence Grier, 245 -2453 <br />PURPOSE: To approve a resolution regarding settlement with Eno River Parking Deck, LLC, <br />authorizing the purchase and' the exchange of properties pursuant to North Carolina General <br />Statute §160A -271 to purchase the Eno River Parking Deck, and to approve Budget <br />Amendment #9 -B. <br />BACKGROUND: In 2009 Orange County entered into a long term Lease Agreement with Eno <br />River Parking Deck, LLC, ( "Eno River ") to provide parking at Eno River's multi -level parking <br />facility ( "Parking Deck ") for its West Campus Office Building, Library, and Gateway Center. <br />Since 2010 numerous operational issues have arisen pertaining to the Lease Agreement <br />ultimately resulting in a lawsuit between the County and Eno River. During settlement <br />negotiations the parties reached a viable solution to the lawsuit that involves the transfer of <br />ownership of the Parking Deck from Eno River to Orange County. North Carolina General <br />Statute §160A -71 authorizes property exchanges between counties and private entities subject <br />to certain conditions - those being identification of the properties, a statement of the properties' <br />values, and ten days' public notice. The properties to be exchanged are identified and valued <br />as follows: <br />The Parking Deck property (PIN 9874052667) has a stated value of $2,900,000. The County <br />Attorney recommends the Board of Commissioners recognize this stated value for purposes of <br />this negotiated settlement only. The Orange County -owned property located at 112 North <br />Churton Street (PIN 9874066435) has an assessed valuation of $450,000 and the Orange <br />County -owned property located at 118 North Churton Street (PIN 9874065497) has an <br />assessed valuation of $130,000. <br />