BC 2007 10 01 Work Session - Laserfiche WebLink

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October 1, 2007 (Work Session) Page 567 Kassie G. Watts, Planner, presented a Consent Agreement for the Pendleton Subdivision project. She reported the project was approved by the Concord Planning and Zoning Board on May 15, 2007; is being developed by Pendleton/Concord Partner, LLC; consists of 88 single family homes and 90 multi-family townhome units on approximately 80.3 acres; and is located on Crestmont Drive. She further reported the Consent Agreement includes the payment of $9,039.00 per single family lot (due at final platting) and $1,331.00 for multi-family townhome units (due prior to building permitting) to advance school adequacy. The Agreement also includes the following proposed build-out schedule: calendar year 2008, no more than 29 multi- family townhome unit building permits will be issued and no more than 20 single family lots will be platted; calendar year 2009, no more than 24 multi-family townhome unit building permits will be issued and no more than 20 single family lots will be platted; calendar year 2010, no more than 24 multi-family townhome unit building permits will be issued and no more than 20 single family lots will be platted; calendar year 2011, no more than 18 multi-family townhome unit building permits will be issued and no more than 20 single family lots will be platted; and calendar year 2012, no more than 8 single family lots will be platted. She also responded to several questions from the Board. UPON MOTION of Commissioner White, seconded by Vice Chairman Juba and unanimously carried, the Board voted to place the Consent Agreement for Pendleton Subdivision on the October 15, 2007 Agenda as a New Business item. Consent Agreement - Crescent Circle at Concord Mills Multi-Family Apartment Project Kassie G. Watts, Planner, presented a Consent Agreement for the Crescent Circle at Concord Mills, a multi-family apartment project developed by Crescent Resources, LLC. She reported the project was approved by the Concord Planning and Zoning Board on January 16, 2007 and consists of 629 multi-family apartment units on +/-108.0693 acres located on Thunder Road. She further reported the Consent Agreement includes the payment of $1331.00 per multi-family apartment unit to advance school adequacy that will be paid in full for all 312 multi-family units prior to the issuance of any building permit in 2006; and the payment of $1331.00 per multi-family apartment unit to advance school adequacy that will be paid in full forall 312 multi-family units prior to the issuance of any building permit in 2009. The Agreement also includes the following proposed build-out schedule: calendar years 2008 and 2009, no more than 312 multi-family apartment unit building permits will be issued. She also responded to several questions from the Board. UPON MOTION of Vice Chairman Juba, seconded by Commissioner White and unanimously carried, the Board voted to place the Consent Agreement for Crescent Circle at Concord Mills on the October 15, 2007 Agenda as a New Business item. Consent Agreement - The Mills at Rocky River Subdivision Kassie G. Watts, Planner, reported The Mills at Rocky River subdivision project, developed by Crosswinds at Rocky River, LLC c/o Grace Development Corporation, LLC, was approved by the Concord Planning and Zoning Board on December 15, 2005 and revised on October 17, 2006. She said the project consists of 830 single family lots and 370 multi-family units on approximately 532 acres located on Rocky River Road. She further reported the Cabarrus County Board of Commissioners approved a Consent Agreement for 61 single family lots by on June 18, 2007 with the stipulation that an independent appraiser be selected to appraise a potential school site. She. said Integra Realty Resources was mutually selected. Based on the appraisal completed by Integra, in addition to two appraisals completed by Wachovia Bank, she reported the developer submitted an appraised value of $94,000.00 per acre or $2,083,040.00 for the proposed school site for credit towards the advancement of school adequacy requirement of $3,398,220.00. Jonathan Marshall, Commerce Director, stated the availability of Kevin Cobb with Grace Development Corp., LLC to respond to questions related to a proposed valuation and analysis of the 22.163 acre elementary school site. He commented on the property being undervalued, the discounted price of $99,000.00 per acre and other work that can be completed by the developer for the school system at less cost. He further reported the analysis and proposal has been submitted to staff at Cabarrus County~Schools for comment and that any comments received will be forwarded to the Board. Ms. Watts and Mr. Marshall responded to questions from the Board.