Item:
Title
Public Hearing to Consider an Economic Development Agreement with Welcome Venture Park, LLC (20 min)
Body
Date of BOCC Meeting: March 23, 2026
Request for Board Action:
Agenda Text
The Board is requested to hold a public hearing to consider a potential Economic Development Agreement (“Agreement”) with Welcome Venture Park, LLC (“Company”). The Agreement, to be negotiated and executed by the County Manager, would include: (a) a payment from the County to the Company of $1,000,000 following satisfactory completion of sewer utility infrastructure necessary to enhance the business prospects of the County; (b) a real estate option provided by the Company to the County permitting acquisition of 1420 Old Oxford Road [7.81 acres; REID of 177731; “Parcel”] for $1,000,000 following a six-month due diligence period, after which the County could ultimately decline to purchase for any reason or no reason at all; and (c) a community benefits package including Company commitments to internships and workforce development programming. Additional information can be found in the attachment to this agenda item.
The Company is developing Welcome Venture Park, a 157-acre industrial/business park (“Site”) in North Durham along Hamlin Road, approximately between Old Oxford Road and Industrial Drive. Construction is ongoing and occurring in three phases, and upon completion, it is estimated that the Site will collectively produce approximately $270M+ in new taxable value and support 300+ new jobs. Both Phase 1 and Phase 2 have adequate utility capacity. However, Phase 3 does not have adequate sewer capacity, as the City’s Lutravil Pump Station, located approximately 0.75 miles north of the Site, cannot accommodate additional development. Improvements to this pump station, to be undertaken by the Company, will permit additional growth within the Site itself as well as within the larger basin. Additional reserve capacity could also be used for more sewer intensive projects at the Site, such as significant jobs and investment projects referred to Durham County by the Economic Development Partnership of North Carolina (EDPNC). The total cost of the necessary sewer upgrades is approximately $2,700,000. The County is being asked to contribute $1,000,000 towards the project, which only would be paid upon satisfactory completion of the sewer upgrades. The Company states that all permits and approvals are in hand and the improvements can begin as soon as possible.
The County’s willingness to consider financial support for sewer upgrades is linked to the fact the Company also owns the undeveloped Parcel adjacent to the future Durham-Roxboro Rail Trail. The Durham-to-Roxboro Rail Trail Plan, approved by the Board of Commissioners in 2025, determined that this general location was ideal for a future trailhead. Preliminarily, the Parcel could potentially include parking, restrooms, open space, and/or related trail programming. To that end, as a component of this deal, the Company is providing the County with a six-month option to purchase the property for a sales price of $1,000,000. The market value of the fee simple interest in the property (as of June 2025) was assessed by Analytical Consultants to be $1,090,000. The Parcel is otherwise not-for-sale and was intended to be used for industrial storage and future development by the Company. The County could ultimately either acquire the property at the end of this six-month period or decline to for any reason or no reason at all. The most important issue to be studied and resolved during the due diligence period is environmental testing. Currently, the Site, as well as the Parcel, are considered brownfields by the North Carolina Department of Environmental Quality (“NCDEQ”). However, limited testing has been done on the Parcel itself and its suitability for parkland is unknown. If this item is approved by the Board, the Company, County, and NCDEQ will proceed with testing and other environmental due diligence for the site. If the testing determines that the Parcel is suitable and safe to be used as a trailhead or similar public use, then the County, Company, and NCDEQ would need to amend the approved brownfield agreement prior to closing.
This public hearing has been advertised as required by law. Staff recommends approval.
Alignment with Strategic Plan: This item aligns with Strategic Plan Goal: Regional Leadership 1b.
Resource Persons: Matthew Filter, Economic Development Manager; Andrew Miracle, Economic Development Director; Ellen Beckmann, Transportation Director; Maurice Jones, Deputy County Manager External Affairs
County Manager’s Recommendation: The Board is requested to hold a public hearing to consider an Economic Development Agreement with Welcome Venture Park, LLC and to authorize the County Manager to negotiate and execute an Economic Development Agreement with Welcome Venture Park, LLC.