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<br /> <br />Christenburv Farms~ Tnc. <br />3801 Beard Road Concord,NC. 28027 Phone: 704-547"0063 <br />Fax: 704-503-0296 <br />Email: kencfi@bellsouth.net <br /> <br />May 14,2004 <br /> <br />;'Cabarrus County Board of Commissioners <br />. P,O. Box707 . <br />Concord/North Carolina 28026.0707 <br /> <br />To the Board of Commissioners: <br /> <br />Christenbury Farms, Inc. has been working with Cabarrus County, the NC Department of Transportation <br />and Rhein Interests on the future Christenbury Parkway construction. This participation includes the <br />dedication of all required right-Qf-way to the State so that this vital road may be built. <br /> <br />The. purpose of this letter is to discuss funding for the project and how Christenbury Farms, Inc. may be <br />-y,illingto participate in that funding. The total cost of the road construction, including partial relocation <br />of Cox Mill Road also, is estimllted to be $826,000. The commitments to date from NCDOT ($200,000), <br />Cabarruscounty ($250,000) and Rhein Interests ($250,000) will not cover the complete cost of <br />constr\lqtion. Christenbury Fanris, Inc. is willing to pay the additional construction cost, up to $200,000, <br />under the following conditions: <br /> <br />I. That any amount oflcontribution (up to $200,000) to this project beyond right-of-way <br />donation be fully cr~dited towards school adequacy fees for which Christenbury Farms, Inc. <br />may be liable in the!future; or in the event of sale of any portion of the property <br /> <br />2. That anyamountofcontribution (up to $200,000) to this project beyond right-of-way <br />donation be fully cr~dited towards school adequacy fees for which any purchaser of any <br />portion of Christenbury Farms, Inc. may be liable in the future. In this event, the purchaser <br />shall compensateC~istenbury Farms, Ine.full)' fo.r.that contribution. <br /> <br />We understand that this action will need to be approved by the Board of Commissioners in an open <br />, <br />meeting and request that it be pl,ced on the agenda. In addition, we would like to request that Cabarrus <br />County legal council draw up th~ necessary legal documents should you choose to approve this action. <br /> <br />. Thank you for your consideration. <br /> <br />~~.~~JJ-uJ~ <br /> <br />Kenneth L. Christenbury /" <br />Executive Vice President . . <br /> <br />t;-Lf-- <br />