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Meeting Date 6/15/04 <br /> <br /> CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Agenda Item # <br /> <br />SUBJECT: <br /> <br />Chdstenbury Parkway Funding <br /> <br />BRIEF SUMMARY: <br /> <br />The cost of the Chdstenbury Parkway project has been re-estimated due to the delay in <br />plan approval and additional requirements that NCDOT has placed on the project. The <br />current funding committed to the project is $700,000 and the estimated cost is $820,000. <br />Chdstenbury Farms has agreed to provide the remaining funding as long as they have an <br />agreement with the Board of Commissioners that any amount of funds provided shall be <br />credited as a contribution to address school adequacy when the property is developed. A <br />letter from Chdstenbury Farms is attached. <br /> <br />REQUESTED ACTION: (Suggested motion ff the Board approves the agenda item as presented) <br />That the Board of Commissioners accept the offer for funding from Chdstenbury Farms <br />including its being credited to any liability for school adequacy once the property is <br />developed. <br /> <br />Attachments [] Yes [] No Expected Length of Presentation 5 Mins. <br /> <br />Submitted By: Jonathan B. Marshall/Commerce Director Date: 6/4/04 <br /> <br />Budget Amendment Required: [] Yes [] No <br /> <br />Budget Amendment Attached and Reviewed by Budget Officer: <br /> <br />[] Yes [] No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />I recommend approval if the additional funds needed for construction cannot be secured <br />from any other source. In the meantime, staff will continue to seek other funding sources. <br /> <br />Manager's Signature <br /> <br />Action Taken: <br />Approved [] Deferred [] <br />Denied [] Other [] <br /> <br /> <br />