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October 15, 2007 (Regular Meeting) Page 579 Transportation and Highway Safety for the abandonment of roads from the System. NOW THEREFORE, BE IT RESOLVED BY THE Board of County Commissioners of the County of Cabarrus that the Division of Highways is hereby requested to review the above described road and to cease maintenance of same road if it meets established standards and criteria. Adopted this the 15th day of October, 2007. /s/ Robert W. Carruth Robert W. Carruth, Chairman Cabarrus County Board of Commissioners Attest: /s/ Lori Hinson Lori Hinson, Deputy Clerk to the Board iat of Brokers to O1 G.S. 159-31 requires the approval of all banks/brokers with which the County places investments. A request is being made to add Duncan-Williams, Inc./Investment Bankers and Multi-Bank Securities, Inc. to the broker list. These brokers have requested to be added to the bid list and meet the investment policy criteria. Staff will be available at the Board of Commissioners meeting should questions arise. The banks/brokers must follow G.S. 159-30, Investment of Idle Funds as Dictated by the Local Government Budget and Fiscal Control Act. UPON MOTION of Commissioner Privette, seconded by Commissioner White and unanimously carried, the Board approved the addition of Duncan-Williams, Inc./Investment Bankers and Multi-Bank Securities, Inc. to the list of bank/brokers for County investment purposes. (G) NEW BU$INE$$ Chairman Carruth moved the following Business: Item G-9 (Consent Agreement Subdivision), Item G-10 (Consent Agreement - 11 (Consent Agreement - Crescent Circle Apartment Project) and G-12 (Consent Agree Subdivision). items to the beginning of New - The Mills at Rocky River Pendleton Subdivision), Item G- at Concord Mills Multi-Family ~ment - Rustic Canyon (Phase 2) (G-9) Consent Agreement - The Mille at Rocky River $ubdivieion Kassie Watts, Planner, presented a Consent Agreement for The Mills at Rocky River subdivision project that was approved by the Concord Planning and Zoning Board on December 15, 2005 and revised on October 17, 2006. She reported the subdivision project consists of 630 single-family residential units, 370 multi-family units on approximately 532 acres and is located on Rocky River Road. She further reported the developer, Crosswinds at Rocky River, LLC, c/o Grace Development Corporation, LLC, previously entered into a consent agreement for 61 of these single-family lots in June of 2007 provided county staff worked with the developer to select an appraiser for the proposed school site. She said the Consent Agreement includes the payment of $9,039.00/$1,331.00 per lot/unit (due at final platting) to advance school adequacy. She reported staff worked with the developer and selected Intregra Realty Resources as the appraiser. Based on the appraisal from Intregra alohg with two other appraisals completed by Wachovia Bank for Grace Development, she said the developer has submitted a value of $94,000.00 per acre ($2,083,040.00) for the proposed school site to be credited toward their adequate public facilities requirements of $3,398,220.00. The Consent Agreement also includes the following build-out schedule: no more than 163 dwelling units platted in 2007, no more than 200 dwelling units platted in 2008, no more than 150 dwelling units platted in 2009, no more than 150 dwelling units platted in 2010, no more than 200 dwelling units platted in 2011, no more than 100 dwelling units platted in 2012, and no more than 176 dwelling units platted in 2013. She noted the 61 lots approved in June of 2007 are not included in the 163 units for 2007. Finally, she stated the availability of Kevin-Cobb with Grace Development to respond to questions. At the request of the County Manager, Jonathan Marshall, Commerce Director, responded to several questions from the Board on negotiating the price to $80, 000.00 per acre and location of the proposed school site. He