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June 18, 2007 (Regular Meeting) Page 478 more than 16 lots platted in 2007. She further moved to authorize the County Manager to execute the consent agreement on behalf of Cabarrus County. Commissioner White seconded the MOTION. Commissioner Privette commented on the lack of adequate school capacity for this project. The MOTION carried with Chairman Carruth, Vice Chairman Juba and Commissioner White voting for and Commissioner Privette voting against. (G-9) Consent Agreement - The Mille at Rocky River , Kassie G. Watts, Planner, presented the following information related to the Consent Agreement for The Mills at Rocky River subdivision project developed by Crosswinds at Rocky River, LLC c/o Grace Development Corporation, LLC: the project is a 1,200 unit subdivision off of Rocky River Road in the City of Concord; the Concord Planning and Zoning Board approved the subdivision on December 15, 2005; the subdivision was revised on October 17, 2006; the project consists of 830 single family residential units and 370 multi-family units on +532 acres; and that Bob Turner, Attorney and Kevin Cobb with Grace Development, are in attendance. In addition, she reported on working with the developer on a potential school site and appraisal. She said the proposed Agreement reflects two possible scenarios for land prices for the school site and that some of the information is outstanding. She further reported Grace Development has several final plats that are ready for recordation and that the developer is asking to enter into a standard consent agreement for 61 lots'and to not include the school site at this time. She said County staff and the Developer are in the process of obtaining a mutually agreed upon appraiser to provide a fair market value for the proposed school site, which may take an additional 60 days. Jonathan Marshall, Commerce Director, stated the issue with the appraisal is finding a mutually agreed upon independent appraiser. He reported a Bank appraisal was completed, but the Bank appraiser was not chosen by-the Developer. He stated the County would want to review the appraiser's credentials and have our own staff review the appraisal to make ' sure the firm could perform the work. He stated the goal is to agree on a value for the property that will go as a credit towards Grace Development's voluntary mitigation payments. Based on the number of lots and amount of the voluntary mitigations payments, he said the total liability for these lots will exceed the value of the land. If the Board chooses to go forward with a consent agreement for 61 lots, he said a hybrid agreement would still need to be drawn up. Chairman Carruthreviewed several actions the Board could take. Commissioner White made a MOTION to table the Consent agreement for The Mills at Rocky River until an appraiser can be selected and the entire project can be completed at one time. Vice Chairman Juba seconded the motion. Bob Turner, Attorney for the Developer, reported Grace Development has contracts with homebuilders and cannot deliver the lots until the maps are recorded. He asked to have a consent agreement for 61 lots and to come back with an agreement for the school site. Ms. Watts responded to questions from the Board about the build-out schedule. She reported a new build-out schedule of 61 lots in 2007 would be included in the consent agreement. There was discussion between the Board and Kevin Cobb, representative of Grace Developmen': Corporation, concerning a number of contracts that are due to close on the lots in the next couple of weeks. It was noted that the ' plats have been approved by the City of Concord. Mr. Cobb asked the Board to please consider approving the consent agreement for 61 lots only. Ms. Watts suggested the Board enter into a standard consent agreement for the 61 lots and enter into a second consent agreement for the remainder of the project when the appraisal comes back. Commissioner White expressed his concern that if the entire consent agreement was not tabled, the project could drag on for months. There was further discussion on whether the County would accept the appraisal done by thebank as opposed to getting another appraiser, setting a