AG 2007 08 20 - Laserfiche WebLink

Home Browse Search

than the rate, time frame or schedule set forth below in subparagraph A, the total number of Which may be accumulated (i. e., the total number of apartment buildings available for occupancy in a subsequent year or years shall include those for a priox•; year or years, but shall not exceed the cumulative total for the year/years identified). The Developer, on behalf of itself and its successors and assigns, also agrees that the maximum number of apartment units within each apartment building shall be 30. A, Calendar Year 2008: 9 apartment buildings; Calendar Year 2009: 9 apartment buildings ( or a total of 13 apartment buildings) Calendar Year 2010; 7 apartment buildings ( or a total of 20 apartment buildings). Notwithstanding anything contained herein to the contrary, the Developer may construct apartment buildings within the Project at a slower pace than the schedule set out above, and the Developer is not obligated to construct any of the apartment buildings planned for the Project. 1.2 Legal Description of Property. The map des crlption of the land covered by the Pnoj ect is attached hereto as Exhibit A and incorporated into this Consent Agreement by this reference (the "Property"). No property may 6e added to the map 'description for purposes of this Consent Agreement, except 6y written amendment'. 1.3 Approved Use and Density. This Consent Agreement shall recognize, with respect to the Project, the total maximum number of multi-family residential units, which is 532, consisting of an overall maximum tlensity of 19.78 units for the Props rt y.. No single family units are approved for this Project. 1.9 Configuration of Development [Intentionally Deleted by the Parties] 1.5 Specific Cohdi tions. The approval and development of this Project is subject to the following conditions as agreed upon by the Developer and County: A) The payment of $1,331 per multi-family apartment unit to the County, to advance school adequacy (the "Adequate Facilities Fee" The total maximum payment for all apartment units in the Project (in the event that all of the planned apartment units are actually constructed) shall be $708,092.00 (the "Total Project AFF"). H) The Total Project AFF is to be paid as provided herein. Immediately priorto the issuance of a certificate of occupancy for any apartment building constructed within the Project, the Developer, or any successor in interest, shall pay to the County an amount equal to the product of the number of Apartment units located in the relevant apartment building and the $1,331 per apartment unit Adequate Facilities Fee. For example, if an apartment building contains 30 apartment units, then the aggregate fee payable to the County for; that apartment building shall be $39,930. 2. Summary of Cabarrua County Determinations Relating to the Project. The Board of Commissioners of Cabarrus County, actl ng in its legislative capacity, has made the following determinations with respect to the Project, including all findings of fact and law as are necessary to make each of the following determipati ons: 2,1 County Dete~~minati ons Rel atinc to the Project. 2,1,1 Permit Approvals. The Project has received an approval recommendation, with the conditions staff recommended, on the site plan by action of the City of Kannapolis Pl ahni ng and Zoning Board taken on April 23rd, 2007. 2.2 Recognized Ri ghts In Adequate Facilities Fee. 2.2.1 Recognized nights. The Adequate Facilities Fee assessed against the Project shall be do the amount specified in Section 1.SA hereof, and the Developer and it s'~. success ors and assigns, shall have the right to develop and construct the Pro~ect in accordance with the uses and density described in Section 1.3 hereof. V' f