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October 15, 2007 (Regular Meeting) The MOTION unanimously carried. Page 585 There was further discussion on the actual approval date of the preliminary plat. Jonathan Marshall, Commerce Director, reported that the preliminary plat was approved on March 1, 2005 per a memo from the Town of Locust, which makes the project subject to the County's Adequate Public Facilities Ordinance.(APFO) at the $4,034.00 per lot level. However, Locust is contending the application date for the preliminary plat was June 2003 before the APFO applied to municipalities. Jim Scarborough, Attorney representing the developer(s) of The Villages at Red Bridge, suggested the adequacy contribution be escrowed to allow the developer(s) to pull building permits. Mr. Koch recommended this discussion be continued in Closed Session since litigation has been threatened with regard to the application of the APFO to this project. ix Increment Fir There was a lengthy discussion related to transferring the excess revenues generated by the TIF from Kannapolis to the County in 2019 on a graduated basis (Option No. 1) or on a set percentage (Options 2, 3 and 9) [Options 1 - 9 are hereby incorporated by reference; see Minute Book Attachment No. 30]. Other issues also addressed included the following: the concerns of the Kannapolis City Council and its Manager as identified in an email dated October 15, 2007 [Incorporated by reference; see Minute Book Attachment No. 30]; utilizing part of Kannapolis' excess revenues to pay down the TIF bonds to lower the County's burden; none of the options are plausible to Kannapolis; the need to make a decision quickly and possibly scheduling another meeting with Kannapolis; possibly reviewing the Interlocal Agreement every seven or eight years; the number of jobs to be created by the Research Campus and the corresponding number of students generated; bonds of this nature are usually refinanced after eight to ten years; participating 50/50 with Kannapolis through the entire project; reviewing the Agreement in 8-year increments; etc. Commissioner White MOVED to support the N.C. Research Campus 100 percent and to review the Interlocal Agreement every eight years (2015, 2023 and 2031) for possible re-negotiation. Commissioner Mynatt seconded the motion. There was a brief discussion on the provision of water and sewer for the Fishertown community. Mr. Day expressed concern with the wording of the motion. He suggested the following language be included in the motion as not to negatively impact the sale of bonds: coverage will not be less than one-and-a-half times the debt service coverage amount. Commissioner White amended his MOTION to include the language as set forth above by the County Manager. The MOTION as amended unanimously carried There was a brief discussion on the need to meet with the Kannapolis City Council next Monday night. (G-5) Redesign of Jail Housing Facility by Removing Top Two Floors of the Housing Unit Commissioner Mynatt spoke at length on the jail housing unit issue. She commented on the concept of compromise; she reviewed the concessions made thus far by the County as part of the conditional use permit; she reviewed the gains and losses for the Sheriff, downtown residents and taxpayers if the top two floors of the jail housing unit were removed; she estimated millions of dollars could be- saved (not borrowed) by reducing the height of the housing unit; she suggested the "savings" be used to purchase additional land elsewhere for a satellite jail or be used for school construction; and she also commented on the movement to find alternatives to incarceration. After a brief comment from Commissioner Privette on the size of the Sheriff's Administration Building, Commissioner Mynatt MOVED to remove the top two floors of the housing unit and to go into the redesign process.