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CABARRUS COUNTY <br />BOARD OF • • <br />* REGULAR MEETING <br />1 <br />`�iri�JJ1 /J� <br />6: 30 P .M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Planning & Development - Reservation of Capacity for Afton Ridge <br />Apartments <br />BRIEF SUMMARY: <br />The applicant is CK Lakepointe Corporate Center, LLC, 301 S. College <br />St., Suite 2800, Charlotte, NC 28202. The project consists of 414 multi- <br />family residential apartment units on +/- 20 acres located off Kannapolis <br />Parkway on Glen Afton Boulevard in the City of Kannapolis, North <br />Carolina. <br />REQUESTED ACTION: <br />Motion to approve the the Reservation of Capacity with the phasing <br />schedule and mitigation payment timing proposed by the applicant: in <br />calendar year 2012, no more than 216 multi - family apartment unit permits <br />issued; in calendar year 2013, no more than 198 multi - family apartment <br />unit permits issued; mitigation of the pro -rata share of the cost of the <br />planned capacity, which equals $3,678.00 per multi - family residential <br />apartment unit, payable prior to building permitting. Further, authorize <br />the Planning & Development Director to execute the Certificate on behalf <br />of Cabarrus County. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Kassie G. Watts, Senior Planner <br />Susie A. Morris, Planning Manager <br />F -5 Page 162 <br />