Town of Chapel Hill North Carolina Executive Summary
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NORTH CAROLINA


EXECUTIVE SUMMARY

Meeting Date: 5/30/2012
AGENDA #2


Title of Agenda Item: Public Hearing: Economic Development Initiative.  (R-1)

Council Goal: Focus on Economic Development, Land Use, and Transportation for a Balanced and Sustainable Future

Background: Former Economic Development Officer Dwight Bassett and I constantly sought ways to implement the goals of the Town's Economic Development Strategy. We were also aware of the emerging themes of Chapel Hill 2020. An opportunity to address the interests expressed in both the Strategy and the 2020 Plan arose when 3 Birds Marketing, a local marketing firm, outgrew its current space on Rosemary Street and needed new space to accommodate their future growth.

The attached memorandum identifies the concepts of economic development in the Strategy and in the 2020 Plan that guided our thinking. It also includes background information on 3 Birds Marketing and how a partnership with the organization could potentially address the Town's economic development interests.

Fiscal Note: Authorizing the Town Manager and Town Attorney to develop and execute documents to formalize the parking support, sublease and working agreements with other parties to implement this economic development initiative would have a fiscal impact on the Town. The extent of this impact depends on the outcome of negotiations with involved stakeholders.

Recommendations: That the Council authorize the Town Manager and Town Attorney to develop and execute documents to formalize the parking support, sublease and working agreements with other parties to implement this economic development initiative.


ATTACHMENTS:
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Staff Memorandum
Resolution