AGENDA #4a

 

MEMORANDUM

 

TO:                  Mayor and Town Council

 

FROM:            W. Calvin Horton, Town Manager

 

SUBJECT:       Setting Public Forum Date for Market Demand Study, Development of Parking Lots 2 and 5

 

DATE:             March 1, 2004

 

 

The attached resolution would set a public forum for Monday, March 22, 2004, on a draft Market Demand Study commissioned by the Council as part of its consideration of the future development of Parking Lots 2 and 5 in downtown Chapel Hill.  Parking Lot 2 is located at the corner of Rosemary and Columbia Streets, and Parking Lot 5 is bounded by West Franklin, Church, and West Rosemary Streets.

 

BACKGROUND

 

On October 27, 2003, the Town Council authorized the Manager to contract with Stainback Public/Private Real Estate LLC of Malvern, Pennsylvania, to provide economic development consultant services for the development of Parking Lots 2 and 5. At that time, the Council budgeted $120,000 for this work, including $35,000 for a Market Demand Study to be conducted by Economics Research Associates (ERA) as a subcontractor of Stainback Public/Private Real Estate.  On November 27, 2003, the Council authorized an additional $20,000 to include evaluating the market demand for arts and entertainment and conducting an assessment of the downtown overall.

 

The results of the market analysis are intended to assist the Council in determining whether market conditions warrant proceeding with the next step in the process: development of master concept plans for the two sites.

 

DISCUSSION

 

The Council Committee on Lots 2 and 5 is meeting tonight at 5:30 p.m. prior to the Council meeting, with an agenda that includes review of a draft of the Market Demand Study.  Tonight, the Council Committee intends to report to the Council on whether it considers the draft report to be ready for scheduling a Public Forum.

 

The schedule authorized by the Council calls for a Public Forum to obtain citizen input prior to the Council Committee making a final recommendation to the Town Council on the Market Demand Study.

                       

We have prepared a resolution that would schedule a public forum at a date determined by the Council, if the Council wishes to conduct such a forum.  We suggest the Council hold the forum on Monday, March 22, 2004.

 

RECOMMENDATION

 

Should the Council desire, we recommend the Council adopt the attached resolution setting a public forum for Monday, March 22, 2004, to hear citizen comments on the Market Demand Study.

 

 

 

A RESOLUTION SETTING A PUBLIC FORUM ON MARKET DEMAND STUDY FOR THE DEVELOPMENT OF PARKING LOTS 2 AND 5 (2004-03-01/R-2)

 

WHEREAS,  the Comprehensive Plan and Downtown Small Area Plan identify Town Parking Lots 2 and 5 as key redevelopment sites; and

 

WHEREAS, the Town Council has established principles and priorities for development of Town Parking Lots 2 and 5; and

 

WHEREAS, the Council on October 27, 2003 authorized a contract with Stainback Public/Private Real Estate to provide economic development consulting services, the first phase of which is to conduct a Market Demand Study;

 

NOW, THEREFORE, BE IT RESOLVED by the Council of the Town of Chapel Hill that the Council sets a Public Forum date to consider a draft Market Demand Study on Monday, March 22, 2004, at 7 p.m. in the Council Chamber, Town Hall, 306 North Columbia Street.

 

This the 1^st day of March, 2004.