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October 20, 2008 (Regular Meeting) Page 1020 • Developer - Weddington Road Properties, LLC, P.O. Box 1229, Wilmington, NC 28901 • Payment of $1,331 per unit will be paid in full for 336 multi- family residential apartment units prior to the issuance of a building permit. Should the developer choose to construct all 912 units, payment of $1,331 for the remaining 76 multi-family residential units will be paid in full prior to the issuance any building permits for those 76 units. • Build out schedule would be no more than 252 multi-family residential apartment unit building permits issued in calendar year 2009, no more than 84 multi-family residential apartment unit building permits issued in calendar year 2010, and no more than 76 multi-family residential apartment unit building permits issued in calendar year 2011. • The developer has agreed to notify the Cabarrus County Commerce Department if the 76 multi-family units are not constructed in order for staff to adjust the Subdivision Lot Inventory accordingly. The APFO worksheet filled out by Mr. Robert Kluttz with Cabarrus County Schools indicates that schools impacted by the Preston Ridge apartment project are currently functioning at the following capacities: Carl A. Furr Elementary School - 98.26$ Harris Road Middle School - 114.90 Jay M. Robinson Hiqh School - 99.818 Including previously approved subdivisions, these schools will be functioning at the following capacity upon completion of the Preston Ridge apartment project: Carl A. Furr Elementary School - 111.56% Harris Road Middle School - 173.48 Jay M. Robinson High School - 110.980 The Capital Improvement Plan includes the Cox Mill High School, projected to open in 2009 and will provide relief to Jay M. Robinson and Northwest Cabarrus High Schools. An addition at Carl A. Furr Elementary School in 2010 will add 200 seats. The CIP also includes a new middle school in 2010 in the south central part of the county that will provide relief to Harris Road Middle School. All improvements listed above are to be funded in the 2009 fiscal year. Cabarrus County Schools operating at 110 capacity are considered to be operating at the maximum capacity. The Subdivision Lot Inventory has been updated through September 2008. Ms. Morris reported Brian Kaiser of Biltmark Corporation and Lance Chernow of Davis Development are available to answer questions. Jonathan Marshall, Commerce Director, Ms. Morris, Mr. Kaiser and Mr. Chernow responded to a variety of questions from the Board. The following issues were addressed: the development will pay the Adequate Public Facilities Ordinance (APFO) fees for the first 336 units built; if the development chooses to develop the final 76 units, the APFO fees will be paid prior to the issuance of building permits; school capacity at schools near the project and the need for a reliever school; the financial feasibility of phasing construction; etc. Vice Chairman Juba MOVED to approve the Consent Agreement between Cabarrus County and Weddington Road Properties, LLC for the Preston Ridge Apartments and authorize the County Manager to execute the Agreement on behalf of Cabarrus County, subject to review or revisions by the County Attorney. Commissioner Carruth seconded the motion. Commissioner Privette voiced his intent to vote against the motion, noting school overcrowding. The MOTION carried, with Chairman White, Vice Chairman Juba and Commissioners Carruth and Mynatt voting for and Commissioner Privette voting against.