Title
University City Regional Library Relocation
Action
ACTION:
(A) Receive as information an update on the relocation for the University City Regional Library; and
(B) Approve FY2023 Authorization Library Facilities University City Regional Library Capital Project Ordinance in the amount of $39,600,000; and
(C) Authorize the County Manager to execute an agreement with the Public Library of Charlotte and Mecklenburg County outlining the purpose and distribution of the capital funds up to the amount of $39,600,000
Staff Contact: Mark Hahn, Director of Asset and Facility Management Department
Presentation: Yes
BACKGROUND/JUSTIFICATION:
(A) The University City Regional Library is currently located at 301 East W.T. Harris Boulevard on property owned by Atrium Health. The property is under a lease which expires on December 31, 2024. Atrium will not be renewing the lease, so the Charlotte Mecklenburg Library has a critical need to relocate this facility. To pursue another location, the Charlotte Mecklenburg Library has used a statutorily defined project delivery method called a Public-Private Partnership (G.S. 143-128.1C) or P3. Under this method local government entities are authorized to partner with a private developer for the design, construction, and financing of a capital project. The developer was selected through a publicly advertised Request for Qualifications (RFQ) process. At its May 18, 2021 meeting, the Board received a presentation outlining the process. At this meeting the Board will receive an update on the key terms of the Development Agreement between the Library and the Developer, EBA Dynamic Real Estate, LLC, a Delaware Limited Liability Company. Key business terms include:
• Location: Waters Edge Village Drive, Charlotte, NC
• Total Building Square Footage: +/- 35,000 square feet
• Parcel size: 0.9006 acres
• Purchase Price: $36,500,000
• Library shall pay its pro rata share of common area operating expenses for the...
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