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MEMORANDUM <br />To: Cabarrus County Board of Commissioners <br />From: Kassie Goodson Watts/Senior Planner <br />Subject: Consent Agree lent and School Capacity Information for the Waterford on the Rocky <br />River Subdivision <br />Date: 10/19/2009 <br />`The Waterfowl on the Rocky River subdivision project was approved by the Cabams County Board of <br />Commissioners on September 29, 2005. This subdivision project is approved for 266 single family homes <br />on + /-162.50 acres and is located betmneen Jim Johnson Road and Shiloh Churrh Road <br />The original Consent Agreei7ment for the Waterford on the Rocky River subdivision project was approved <br />on September 29, 2005 betHeen Martingale Holdirm~ II and the Cabamns County Board of <br />Commissioners. The terms of this a~rent were assigned and asstured by Niblock Development <br />Corporation on June 22, 2006. The specifics of the agreerrmalt are as follows: <br />^ Developer -Niblock Development Corporation, 300 McGill Avenue NW, Concord, NC 28027. <br />^ Payment of $4,034 per single family lot will be due and payable upon Final Plattirr~ <br />^ Proposed build out schedule is Calendar year 2006, no more than 40 homes available for <br />occupancy, Calendar year 2007, no more than 85 homes available for occupancy, Calendar year <br />2008, no rrore than 85 homes available for occupancy, and Calendar year 2009, no more than 56 <br />homes available for occupanxy. <br />^ No Certificate of Occupancy will be issued for lots within this subdivision prior to January ln, <br />2007. <br />The developer is requesting the following modification of the timing of the payment. <br />^ Payment of $4,034 per single family lot to be made at Building Pemuttin~ <br />The request to revise the APF payment timing has been outlined in the attached letter from Niblock <br />Development Corporation <br /> <br />G-5 <br />Attachment number 1 <br />Page 265 <br />