The forum, scheduled for 7 p.m. at the Chapel Hill Town Hall, is co-sponsored by the Orange-Chatham Group of the Sierra Club and UNC's Student Environmental Action Coalition.
The panelists for the forum include Greg Gangi, director of education for the Sierra Club.
Although Town Council members do not have an official role in the forum, Gangi said they are invited to attend.
He also encouraged residents to come out and voice any concerns or questions they might have.
"We're going to have to lobby the council to do something about (this issue)," Gangi said.
SEAC member and forum coordinator Nicholas Grueff said special emphasis will be placed on the idea of turning parking lot No. 5 -- which is located on West Franklin Street near Michael Jordan's 23 -- into a courtyard featuring a town plaza.
The forum also will address the financial ramifications such a project might have for the town.
Finding a new use for the lot is part of the town's Downtown Small Area Plan, which was adopted in March 2000 to encourage residential and office development downtown.
Grueff said SEAC hopes to encourage business growth through its plan for a town plaza by including cafes and other local small businesses in the proposal.