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AG 2011 05 16
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AG 2011 05 16
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Last modified
6/13/2011 8:47:54 PM
Creation date
11/27/2017 11:15:18 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
5/16/2011
Board
Board of Commissioners
Meeting Type
Regular
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Project Phases <br />Phase 1: Pre - Design Phase <br />• Asbestos and Hazardous material inspection <br />• Structural Integrity review <br />• Phase I and II Environmental impact study. (If necessary) <br />• Campus grounds maintenance (i.e. shrubbery, lawn care, trash pickup) <br />After these critical examinations are completed the engineering team can provide <br />recommendations to the university on those items that must be dealt with immediately prior to redesign <br />or construction on the site. Special attention will be provided to the Building A (Two- History Building), <br />as this will be the first building to renovated. <br />Phase 2: North Carolina Historic Preservation/National Register of Historic Sites <br />Staff would review the necessary requirements in conjunction with local and state authorities to <br />determine the eligibility of historical site designation. If the site is found to be of historical value as <br />determined by the appropriate governing bodies then the university would begin the process for <br />recognition; and seek the corresponding tax credits associate with historic renovation projects. <br />Phase 3: Finance and Development <br />After taking ownership of the property the university would launch a ten year five million dollar <br />campaign to provide dollars towards the renovation and construction of the campus. The university has <br />already secured private equity and commercial real estate financing counsel to facilitate this private <br />investment. <br />The university will additional seek capital loans and or partnerships or assigns, to provide the <br />necessary capital to begin site development. <br />Additionally, the university is partnering with other nonprofit organizations to make <br />applications to family foundations and corporations in support of this project. A few examples of <br />entities the university would submit application to are as follows: <br />Z. Smith Reynolds Foundation <br />Kate B. Reynolds Foundation <br />Cannon Foundation <br />Duke Endowment <br />Butroghs Wellcome Fund <br />W.K. Kellog Foundation <br />Attachment number 6 <br />E -1 Page 58 <br />
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