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February 21, 2005 (Regular Meeting) Page 94 STATE OF NORTH CAROLINA COUNTY OF CABARRUS MEMORANDUM OF UNDERSTANDING THIS MEMORANDUM of Understanding is entered into as of the latter adoption shown at the conclusion of this document -by, and between County, a body politic and corporate of the State of North (llCounty") and the Town of Mt. Pleasant, a North Carolina corporation (IITownll). date of Cabarrus Carolina municipal WHEREAS, the County and the Town are experiencing explosive residential growth; and WHEREAS, it is in the long-term interests of all the citizens of the County and the Town to have a synchronized, progressive, cooperative and comprehensive approach to land use and growth management. THEREFORE, both the Town Council and the County Board of Commissioners agree to the following: 1) The Town and County shall initiate a review and update, if necessary, of the Eastern Area Plan, which includes both land use and growth management components. The planning will begin immediately and is to be completed and implemented, including adoption of any necessary ordinances, within six months. 2) The Town acknowledges that the County has recently initiated a moratorium on the consideration of residential subdivision applications in the unincorporated areas of the County for a period of six (6) months, concluding approximately June 30, 2005. During the moratorium period, the County anticipates preparation and adoption of new development and zoning ordinances substantially similar to'those in use in Mt. Pleasant, Harrisburg, Concord and Kannapolis. These new ordinances shall be adopted at or before the end of the moratorium. 3) All developments submitting preliminary applications to the Town or preliminary subdivision plats to the County prior to the enactment of the moratorium shall be permitted to proceed through the development review process under the ordinances and regulations in effect at the date of execution of this Memorandum. SCDS, Inc., pin#'s 5579-'35-6630 & 5791-17-3304 shall also be permitted to proceed through the development review process due to the significant monetary investment already made. 4) The Town shall endorse the County's effort to revise its development ordinances and will take all steps necessary for the implementation thereof and agrees that with regard to any annexation ordinances that the Town adopts during the moratorium, the effective date will not be sooner than the date on which the moratorium ends. 5) The Town and County do hereby direct their managers, attorneys, planners and other professional staff members to prepare such studies and documents necessary to effect the provisions of this Memorandum and to present them to their respective boards as soon as possible for consideration and adoption. 6) The adoption of this Memorandum by the County is expressly conditioned upon the adoption by the Town, and the adoption of this Memorandum by the Town is expressly conditioned upon the adoption hereof by the County. All covenants and agreements set forth herein are and shall be mutually dependent and a condition to each agreement and covenant herein shall be the complete fulfillment of all other agreements and covenants herein by the other party. No provision is severable. Adopted the 21't day of February, 2005 by the Board of Commissioners of the County of Cabarrus, and on the 7th day of February, 2005, by the Town of Mt. Pleasant. THE COUNTY OF CABARRUS /s/ Carolyn B. Carpenter Carolyn Carpenter, Chairman Board of Commissioners THE TOWN OF MT. PLEASANT /s/ Troy Barnhardt Troy Barnhardt, Mayor ATTEST: /s/ Frankie F. Bonds Frankie F. Bonds, Clerk to the Board of Commissioners ATTEST: /s/ Diane Parker, Asst. Town Clerk Cathy Whittington, Town Clerk