Marcia Parrott, director of the Development Finance Initiative (DFI) at the UNC School of Government, told the Durham Public Schools Board of Education that DFI would perform a phase-1 feasibility study of the former Lowes Grove School and surrounding parcels, combining community engagement, site and parcel analysis, market research and financial modeling to test redevelopment options.

"We act much like a private developer would when we're evaluating the development feasibility of the site," Parrott said, describing DFI's public-interest approach to ensure projects align with community goals as well as market realities. She said the work typically includes tailored stakeholder outreach (one-on-one and small-group conversations), test-fit design work and financial scenarios and that the team will update the board partway through the process and again with final recommendations.

DFI's proposal lists a core fee for the phase-1 scope of $72,400 and estimates the work would take five to six months. Board members asked whether the district would share costs or potentially generate revenue from a future public-private partnership; Parrott said the county is covering the cost for this phase and the team will present a menu of scenarios that emphasize either revenue or public-interest outcomes. "What's the most profitable might not align well with your public interest," she said.

Board counsel advised the board that no formal vote or contract signature was required this evening. Attorney Balon said the presentation was informational and the board could express support without taking formal action.

What happens next: the board asked staff to confirm whether additional district properties should be included in DFI's scope. If the district moves forward, DFI will coordinate with district and county counsel, perform stakeholder outreach, and return interim and final reports to help the district decide whether to pursue preservation, redevelopment, a competitive solicitation for a developer, or demolition.

Provenance: Topic introduced when administration announced the DFI engagement and DFI presented scope and fee (presentation begins SEG 502 and DFI presentation details run through SEG 762).