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Memorandum <br />April 12, 2001 <br />Page -2- <br /> <br />donation to be a contribution to facility adequacy and water and sewer <br />improvements. While the Planning Staff feels Mr. Humphrey was made aware of <br />this fee, there is no record in any correspondence or report indicating that he <br />was apprised of it. <br /> <br />The final issue to consider is that Fletcher Hartsell has indicated that the Water <br />and Sewer Authority expects to transfer only $80,000 of the $130,000 deposit to <br />Cabarrus County, which reflects their initial estimate of cost for the 13 acre <br />parcel. <br /> <br />I would suggest the following actions to be approved by the'~:abarrus CoUnty <br />Board of Commissioners and the Water and Sewer Authority Board to resolve <br />these issues: <br /> <br />1. Randy Humphrey, Ific,, complete the transfer of the 23 acre parcel to <br /> Cabarrus COunty. <br /> <br />The Water and Sewer Authority of Cabarrus County transfers the <br />escrow amount of $129,859 to Cabarrus County in exchange for the <br />transfer of 13 acres to WSACC. <br /> <br />Cabarrus County releases Randy Humphrey, ]:nc., from his obligated <br />payment of $35,500 due to Cabarrus County and pays the State of <br />North Carolina $35,500 for the State share of the connection fee. <br /> <br />Cabarrus County retains $80,000 of the escrow amount (the expected <br />cost of the 13 acres for WSACC) plus an amount equal to half of the <br />connection fee paid to State ($17,750), Based on this the County will <br />retain $97,750 of the escrow amount. <br /> <br />5. Cabarrus County returns the remainder of the escrow amount to <br /> WSACC. The amount returned would therefore be $32,109. <br /> <br />This proposal would need to be approved by both Boards' to be in effect. If <br />there are any questions concerning this, please do not hesitate to call me at <br />(704) 920-2145. <br /> <br /> <br />