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October 15, 2007 (Regular Meeting) Page 581
<br />for all 312 multi-family units prior to the issuance of any building permit
<br />in 2008 and 2009) and the following build-out schedule: for calendar years
<br />2008 and 2009, no more than 312 multi-family apartment unit building permits
<br />will be issued each year. Finally, she stated the availability of Brian
<br />Natwick, representative of Crescent Resources, LLC to respond to questions
<br />from the Board.
<br />Commissioner Mynatt MOVED to approve the Consent Agreement between
<br />Cabarrus County and Crescent Resources, LLC, for the Crescent Circle at
<br />Concord Mills Multi-Family Apartment Project, including payment of $1331.00
<br />per multi-family apartment unit to advance school adequacy due prior to the
<br />issuance of any building permits and the following build-out schedule of no
<br />more than 312 multi-family apartment unit building permits issued in 2008 and
<br />no more than 312 multi-family apartment unit building permits issued in 2009.
<br />Further, she MOVED to authorize the County Manager to execute the Agreement
<br />on behalf of Cabarrus County.
<br />There was a brief discussion on school capacity percentages.
<br />Commissioner White seconded the motion.
<br />Brian Natwick, with Crescent Resources, LLC, responded to questions
<br />from the Board and commented on apartment vacancy rates and market
<br />conditions. Mr. Watts also responded to questions on the number of students
<br />generated by this project.
<br />After further discussion, the MOTION carried with Chairman Carruth,
<br />Vice Chairman Juba, and Commissioners Mynatt and White voting for and
<br />Commissioner Privette voting against.
<br />(G-12) Consent Agreement - Rustic Canyon (Phase 2) 3ubdivieion
<br />Kassie Watts, Planner, reported the Rustic Canyon (Phase 2) subdivision
<br />project, developed by Shea Homes, LLC, was approved by the Cabarrus County
<br />Planning and Zoning Board on June 21, 2007 and consists of 238 single-family
<br />lots on +/-159.19 acres located on Zion Church Rd. The Consent Agreement
<br />includes the payment of $9,034.00 per lot (due at final platting) and the
<br />following proposed build-out schedule: no more than 50 lots to be platted
<br />in 2009, no more than 50 lots to be platted in 2010, no more than 50 lots to
<br />be platted in 2011 and no more than 68 lots to be platted in 2012. Finally,
<br />Ms. Watts stated the availability of Michael Shea of Shea Homes, LLC to
<br />respond to questions.
<br />Vice Chairman Juba MOVED to approve the Consent Agreement between
<br />Cabarrus County and Shea Homes, LLC, for the Rustic Canyon Phase 2
<br />Subdivision, including payment of $9,039.00 per lot due at final platting to
<br />advance school adequacy and the following build-out schedule of no more than
<br />50 lots to be platted in 2009, no more than 50 lots to be platted in 2010, no
<br />more than 50 lots to be platted in 2011 and no more than 86 lots to be
<br />platted in 2012. By the same vote, the Board also authorized the County
<br />Manager to execute the agreement on behalf of Cabarrus County.
<br />Commissioner White seconded the motion.
<br />Commissioner Privette expressed opposition to the approval of the
<br />Consent Agreement due to school capacity.
<br />The MOTION carried with Chairman Carruth, Vice Chairman Juba and
<br />Commissioners Mynatt .and White voting for and Commissioner Privette voting
<br />against.
<br />Grant for Overhead Door Company of
<br />Ryan McDaniels, with the Cabarrus Economic Development Corporation
<br />(EDC), reported the Overhead Door Company of Charlotte is considering
<br />relocating to Cabarrus County and constructing a 50,000 square foot facility
<br />in Harrisburg with an expected value of $4,350,000.00 ($2,850,000.00 - real
<br />estate; $1,500,000.00 - equipment). He also reported the company plans to
<br />hire approximately 120 full-time and 100 part-time employees and reviewed the
<br />following grant analysis:
<br /> Year 1 Year 2 Year 3 Year 9
<br />Total Assessed Value $9,350,000.00 $9,350,000.00 $9,350,000,00 $9,350,000.00
<br />County Taxes at .63 $27,905.00 $27,905.00 $27,905.00 $27,905.00
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