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May 17, 2004 Page 471 Section 14. Reappraisal Years-Panels. In any reappraisal year, the Chairman of the Board of Equalization and Review shall have the authority to divide the board into two or more separate panels with a minimum of three board members or alternate for each panel. The board members for the panels may be interchanged during the year. In the event the chairman exercises the right to divide the board into panels, a majority of the members of a particular panel shall constitute a quorum, and decision by the panel will constitute a decision of the board. Section 15. There shall be no appeal from the Special Board of Equalization and Review under this act except to the North Carolina Property Tax Commission as it is provided by law. Section 16. The provisions of this act shall apply only to Cabarrus County, and it is the intent to amend G.S. 105-322 only with respect to Cabarrus County. Section 17. Ail laws and clauses of law in conflict with this act are hereby repealed, including Chapter 916 of the 1961 Session Laws, Chapter 281, Session Laws of 1963, and Chapter 412, Session Laws of 1971. Section 18. This act is effective upon ratification. (G-11) Memorandum of Understandin~ for the NC 73 Transportation/Land Use Corridor Plan Jonathan Marshall, Commerce Director, distributed a copy of the Memorandum of Understanding concerning the NC 73 Transportation/Land Use Corridor Plan and introduced the presenter, Denis Rash, UNC-Charlotte Urban Institute. He said Mr. Rash would review this document with the Board and a final draft would be forthcoming. Dennis Rash, UNC-Charlotte Urban Institute, discussed the historical background of the NC 73 Transportation/Land Use Corridor Plan and reviewed the following Memorandum of Understanding: For Adoption Presentations MEMORANDUM OF UNDERSTANDING CONCERNING THE NC 73 TRANSPORTATION/LAND USE CORRIDOR PLAN Background In February 2003, the North Carolina Department of Transportation ("NC DOT") engaged the Centralina Council of Governments ("COG") to administer a grant to study the NC 73 Corridor from Interstate Highway 85 in Cabarrus County to US Highway 321 in Lincoln County. Funds for this Corridor Study came from NC DOT, as well as from the counties, municipalities and private sector sources along the Corridor. [The term "Corridor" in the Memorandum means area lying roughly within one-half (1/2) mile of the centerline of the NC 73 right of way between the highway's intersections with Interstate 85 in Cabarrus County, and with US 321 in Lincoln County.] The impetus for the NC 73 Transportation/Land Use Corridor Plan (the "Plan") was the recognition that increased development pressures along the Corridor, and the resulting vehicular burdens, have stressed the roadway's capacity to serve as a reliable transportation facility for its many users. Moreover, all of the concerned parties recognized two key factors: 1) considerable physical improvement will be required to address the corridor issues; and 2) the current foreseeable land uses along the Corridor should be evaluated before undertaking any capital investment in improving the roadway itself. Beginning with this broad consensus, COG and NC DOT selected a team of planners to undertake the details of this study. The contract for these planning services was executed in April 2003, and the planning team's analysis began shortly thereafter. Public meetings were held in Cabarrus, Lincoln and Mecklenburg Counties during November 2003 and March 2004. The planning team's work has been guided by a steering committee comprised of COG and representatives of all municipalities or counties having land use planning jurisdiction over property along the Corridor; representatives of economic development or planning organizations affected by the NC 73's capacity; North Carolina DOT; and the three transportation planning organizations with jurisdiction in the area. The planning team hosted a series of land use planning charettes with the local planning staffs for each of the municipalities and counties having