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<br />August 21, 2006 (Regular Meeting)
<br />
<br />Page 44
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<br />platted in 2008; 100 lots platted in 2009; 100 lots platted in 2010; 100 lots
<br />platted in 2011; and 100 lots platted in 2012.
<br />
<br />Ms. Watts responded to questions on the capacity at the W.R. Odell
<br />Elementary School.
<br />
<br />UPON MOTION of Commissioner Freeman, seconded by Vice Chairman Juba and
<br />unanimously carried, the Board approved the Consent Agreement between
<br />Cabarrus County and Danny G. Bost, LLC, for the Quail Haven Subdivision,
<br />including the payment of $4,034.00 per lot to advance school adequacy and a
<br />build out schedule of 51 lots platted in 2007; 100 lots platted in 2008; 100
<br />lots platted in 2009; 100 lots platted in 2010; 100 lots platted in 2011; and
<br />100 lots platted in 2012. Further, the Board authorized th,e County Manager
<br />to execute the agreement on behalf of Cabarrus County.
<br />
<br />(E-6) Consent Agreement - Roberta Meadows Subdivision
<br />
<br />Kassie G. Watts, Planner, presented a Consent Agreement for the Roberta
<br />Meadows Subdivision. She reported the subdivision, developed by Pitts
<br />School, LLC, was approved by the Concord Planning and Zoning Board on June
<br />20, 2006, and consists of 33 single family residential homes on approximately
<br />13.70 acres located on Roberta Road. She said the Consent Agreement provides
<br />for the advancement of adequacy at $4,034.00 per lot that will be due at
<br />final platting.
<br />
<br />At its July 10 meeting, the Board
<br />developer on an alternate phasing schedule.
<br />the following revised build out schedule:
<br />platted in 2007; and 9 lots platted in 2008.
<br />
<br />asked staff to work with the
<br />As a result, Ms. Watts presented
<br />4 lots platted in 2006; 20 lots'
<br />
<br />Chairman Carruth reported Hickory Ridge High School, projected to open
<br />in August 2007, will provide relief for the Jay M. Robinson High School.
<br />
<br />UPON MOTION of Commissioner Carpenter, seconded by Commissioner Freeman
<br />and unanimously carried, the Board approved the Consent Agreement between
<br />Cabarrus County and Pitts School, LLC, for the Roberta Meadows Subdivision"
<br />including the payment of $4,034.00 per lot to advance school adequacy and a
<br />build out schedule of 4 lots platted in 2006; 20 lots platted in 2007; and 9
<br />lots platted in 2008. Further, the Board authorized the County Manager to
<br />execute the agreement on behalf of Cabarrus County.
<br />
<br />(E-7) Jail Annex Financing
<br />
<br />Pam Dubois, Deputy County Manager, reported proposals were solicited
<br />from local banks for the financing of the Jail Annex and site development for
<br />the Sheriff's Office and Detention Center. Of the seven bids received, she
<br />said First Charter offered the best interest rate at 4.31 percent for one
<br />year and 4.44 percent for 14 years. She also reported the County has the
<br />abili ty to roll this loan into the COPS financing, but will mostly likely
<br />keep this loan because of the excellent interest rates. On a separate note,
<br />she reported the County is scheduled to appear before the Local Government
<br />Commission on September 5, 2006. The bid tabulation is as follows:
<br />
<br /> Bid Tabulation for 15 Million Law Enforcement Annex and Site Development
<br /> August 8, 2006, 11 a.m.
<br /> Fifteen Year Term
<br />Financing 15 Year Interest Expense Prepayment
<br />Institute Fixed Variable Fees Over Life of Loan Penalty
<br /> No, repayment
<br />BB & T 4.68% N/A $5,700.00 5,151,900.02 in Whole
<br />Bank Of
<br />America 4.5305 N/A $6,500.00 5,473,602.09 No, anytime
<br /> Yes, subject
<br /> to yield maint
<br />RBC 4.56 N/A $6,500.00 5,221,200.00 fee
<br />First 4.31(1)/
<br />Charter 4.44(14) N/A $6,000.00 4,867,549.63 No, anytime
<br />Wachovia No Bid
<br />First
<br />Citizens No Bid
<br />Cabarrus
<br />Bank & No Bid
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