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Home My WebLink AboutORD-2012-022 Ordinance approving Budget Amendment #9-B - Purchase of Eno River Parking DeckORD- QOia- OQQ ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: June 5, 2012 Action Agenda Item No. -7 - G SUBJECT: Approval of a Settlement Resolution Authorizing an Exchange of Properties Between Orange County and Eno River Parking Deck, LLC, and Approval of Budget Amendment #9 -13 DEPARTMENT: County Attorney PUBLIC HEARING: (Y /N) No Financial Services ATTACHMENT(S): Attachment 1. Resolution Attachment 2. Budget as Amended Spreadsheet Attachment 3. Year -To -Date Budget Summary INFORMATION CONTACT: John Roberts, 245 -2318 Clarence Grier, 245 -2453 PURPOSE: To approve a resolution regarding settlement with Eno River Parking Deck, LLC, authorizing the purchase and' the exchange of properties pursuant to North Carolina General Statute §160A -271 to purchase the Eno River Parking Deck, and to approve Budget Amendment #9 -B. BACKGROUND: In 2009 Orange County entered into a long term Lease Agreement with Eno River Parking Deck, LLC, ( "Eno River ") to provide parking at Eno River's multi -level parking facility ( "Parking Deck ") for its West Campus Office Building, Library, and Gateway Center. Since 2010 numerous operational issues have arisen pertaining to the Lease Agreement ultimately resulting in a lawsuit between the County and Eno River. During settlement negotiations the parties reached a viable solution to the lawsuit that involves the transfer of ownership of the Parking Deck from Eno River to Orange County. North Carolina General Statute §160A -71 authorizes property exchanges between counties and private entities subject to certain conditions - those being identification of the properties, a statement of the properties' values, and ten days' public notice. The properties to be exchanged are identified and valued as follows: The Parking Deck property (PIN 9874052667) has a stated value of $2,900,000. The County Attorney recommends the Board of Commissioners recognize this stated value for purposes of this negotiated settlement only. The Orange County -owned property located at 112 North Churton Street (PIN 9874066435) has an assessed valuation of $450,000 and the Orange County -owned property located at 118 North Churton Street (PIN 9874065497) has an assessed valuation of $130,000. j`l o�� -ao�2- a2 Resolution 2012 -02T ORANGE COUNTY BOARD OF COMMISSIONERS RESOLUTION AUTHORIZING EXCHANGE OF PROPERTY WHEREAS, Eno River Parking Deck, LLC owns a multi -level parking facility ( "Parking Deck ") (PIN 9874052667) on Nash and Kollock Street, Hillsborough, North Carolina; and WHEREAS, Orange County leases approximately 200 parking spaces ( "Leased Spaces ") in the Parking Deck; and WHEREAS, Orange County and Eno River Parking Deck, LLC (the "Parties ") are currently engaged in litigation regarding the Leased Spaces; and WHEREAS, the Parties have reached a mediated settlement agreement whereby they will exchange certain properties which shall result in a termination of the Lessor Lessee relationship and a dismissal of the litigation; and WHEREAS, the Parking Deck property has a stated value of $2,900,000, recognized as such for purposes of the negotiated settlement only, and the Orange County-owned property located at 112 North Churton Street (PIN 9874066435) has an assessed valuation of $450,000 and the Orange County-owned property located at 118 North Churton Street (PIN 9874065497) has an assessed valuation of $130,000; and WHEREAS, the Parties desire to transfer the Parking Deck property to Orange County and to transfer both of the properties at 112 and 118 North Churton Street plus one million dollars ($1,000,000) to Eno River Parking Deck, LLC; and WHEREAS, North Carolina General Statute § 160A -271 authorizes the County to exchange county-owned property upon authorization by resolution of the Board of County Commissioners of Orange County adopted at a regular meeting after at least ten (10) days' public notice; and WHEREAS, the County has given the required public notice, and the Board has considered the matter at a regular meeting. NOW, THEREFORE, BE IT RESOLVED THAT: 1. The Exchange of properties described above is authorized. 2. The appropriate county officials are directed to execute the instruments necessary to carry out the exchange. This the 5`h day of June 2012. Bernadette Pelissier, Chair Orange County Board of Commissioners Attest: Clerk to the Board Commissioners Attachment 1. Orange County Proposed 2011-12 Budget Amendment The 2011-92 Orange County Budget Ordinance is amended as follows: Note: reFlects encumbrance carry forwards as authorized by the annual budget ordinance #1 To appropriate $1,000,000 of Original Budget Encumbrance gudget as Amended Budget as Amended General Fund Budget as Amended Carry Forwards through BOA#9 balance to through BOA#9-B purchase the Eno River Parking Deck General Fund Revenue Property Taxes $ 133,471,175 $ - $ 133,471,175 $ 133,471,175 $ - $ 133,471,175 Sales Taxes $ 15,283,790 $ - $ 15,283,790 $ 15,283,790 $ - $ 15,283,790 License and Permits $ 313,000 $ - $ 313,000 $ 313,000 $ - $ 313,000 Intergovernmental $ 15,989,453 $ - $ 15,989,453 $ 19,861,428 $ - $ 19,861,428 Charges for Service $ 9,517,472 $ - $ 9,517,472 $ 9,585,272 $ - $ 9,585,272 Investment Earnings $ 140,000 $ - $ 140,000 $ 140,000 $ - Miscellaneous $ 1,266,298 $ - $ 1,266,298 $ 1,339,132 $ $ 140,000 Transfers from Other Funds $ 1,064,917 $ _ - ' $ 1,339,132 $ 1,064,917 $ 1,064,917 a $ 1,064,917 Fund Balance $ 1,131,417 $ 806,519 $ 1,937,936 $ 2,313,292 $ 1,000,000 $ 3,313,292 Total General Fund Revenues $ 178,177,522 $ 806,519 $ 178,984,041 $ 183,372,006 $ 1,000,000 $ 184,372,006 Expenditures Governing&Management $ 14,072,861 $ 214,022 $ 14,286,883 $ 14,216,837 $ - General Services $ 17,543,235 $ 136,794 $ 17,680,029 $ 77,688,569 $ _ $ '�4,216,837 ommunity nvironment 5,801, 41 76,05 5,8 7,997 5, 30, 57 _ $ 17,688,569 5,930,057 � Human Services $ 32,525,916 $ 123,048 $ 32,648,964 $ 35,230,202 $ - $ 35,230,202 Public Safety $ 19,697,379 $ 239,947 $ 19,937,326 $ 20,155,932 - Culture&Recreation $ 2,219,103 $ 16,652 $ _ $ 20,155,932 � $ 2,235,755 $ 2,267,158 $ $ 2,267,158 Education $ 82,122,585 $ - $ 82,122,585 $ 87,459,389 $ $ 81,459,389 � Transfers Out $ 4,194,502 $ - $ 4,194,502 $ 6,423,862 $ 1,000,000 $ 7,423,862 �-- Tota/General Fun Appropriation $ 178,177,522 $ 806,519 $ 178,984,041 $ 183,372,006 $ 1,000,000 $ 184,372,006 � $ .P t . • Year -To -Date Budget Summary Fiscal Year 2011 -12 General Fund Budget Summary Original General Fund Budget $178,177,522 Additional Revenue Received Through Budget Amendment #9 (May 15, 2012 Grant Funds $167,244 Non Grant Funds $3,845,365 General Fund Fund Balance for 87 Anticipated Appropriations (i.e. Encumbrances ) $806,519 General Fund Fund Balance Appropriated to Cover Unanticipated Expenditures $375,356 General Fund Fund Balance Appropriated to Purchase Eno River Parking Deck $1,000,000 Total Amended General Fund Budget $184,372,006 Dollar Change in 2011 -12 Approved General Fund Budget $6,194,484 % Change in 2011 -12 Approved General Fund Budget 3.48% Authorized Full Time Equivalent Positions Original Approved General Fund Full Time Equivalent Positions 78d75 Original Approved Other Funds Full Time Equivalent Positions 8 Position Reductions during Mid -Year (1 Additional Positions Approved Mid -Year Total Approved Full- Time - Equivalent Positions for Fiscal Year 2011 -12 87 4M,-,k 3 s $10,000 for the County's share of a vehicle replacement as requested by the U.S. Forest Service (BOA #1); $192,243 to cover funding shortfall of Link Center Geothermal HVAC Project (BOA #1 -B); $110,573 in insurance proceeds received in FY 2010- 11 to cover purchase of 3 ambulances (BOA #2 -B); $21,974 for budget carryforwards from FY 10 -11 and $7,334 for Hyconeechee Car per MOU (BOA #6); $23,300 for purchase of a new van for Economic Development (BOA #8); $9,932 to cover remaining cost of two (2) transport vans (BOA #9), Appropriation of Fund Balance of $1,000,000 to purchase the Eno River Parking Deck (BOA #9 -B) loss of Smart Start funds associated with Intensive Home Visiting Grant Program in Health; employee was reassigned to a vacant position within the department in GF (BOA #2)