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MEMORANDUM To: Cabarrus County Boazd of Commissioners From: Kassie Goodson Watts/Planner Subject: Consent Agreement and School Capacity Information for The Mills at Rocky River Subdivision Date: 9/30/2007 The Mills at Rocky River subdivision was approved by the Concord Planning and Zoning Board on December 15, 2005. The subdivision was then revised on October 17°i, 2006. The project consists on 830 single family lots and 370 multi-family units on +532 acres located on Rocky River Road. The developer has previously received approval of a Consent Agreement for 61 single family lots by the Cabarrus County Board of Commissioners on June 18, 2007. The specifics of the approved agreement were as follows: 1. The developer and the County would agree upon an appraiser fox the proposed school site by July 1, 2007. 2. The Consent Agreement would be limited to no more than 61 lots platted in calendar year 2007. 3. The adequacy contribution of $4,034.00 per single family lot is payable at final platting. The developer and the County agreed upon an appraisal by Integra Realty Resources. Based on the appraisal completed by Integra, in addition to two appraisals completed by Wachovia Bank, the developer has submitted the following appraisal value of $94,000 per acre for the proposed school site to be credited towards their APFO requirements. The specifics of the agreement axe as follows: • Developer -Crosswinds At Rocky River, LLC c/o Grace Development Corporation, LLC 7714 Matthews-Mint Hill Road, Charlotte, NC 28227. • Payment of $4034 per single-family lot and payment of $1331 per multi-family units will be due at Final Platting. • A $2,083,040.00 credit for the proposed school site donation will be applied towards the APFO requirements of $3,348,220.00. • Build out schedule would be no more than 163 dwelling units platted in 2007, no more than 200 dwelling units platted in 2008, no more than 150 dwelling units platted in 2009, no more than 150 dwelling units platted in 2010, no more than 200 dwelling units platted in 2011, no more than 100 dwelling units platted in 2012, and no more than 176 dwelling units platted in 2013. (Note: Building permits issued will not exceed the approved number of dwelling units approved to be platted each calendar year and vice versa. Single family lots and multi-family units axe considered cumulative each year.) The APFO worksheet filled out by Mr. Robert Kluttz with Cabarrus County Schools indicates that schools impacted by The Mills at Rocky River Subdivision are currently functioning at the following capacities: Note: These percentages axe based on the 10~h day enrollment figures for September 10, 2007. Rocky River Elementary School - 109.60% C.C. Griffm Middle School - 123.95% Central Cabarrus High School - 64.34% G-q