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A.
COMMENCEMENT
1.
Call to Order (Provided)
2.
Ceremonial Opening (Provided)
3.
Adoption
of agenda (Adopted
agenda as amended: removed agenda item B.2.f., 05-SP-002, TTA Downtown
Cary Station, and scheduled this item for the December 15, 2005 council
meeting; removed agenda item F.4., Amberly development related items,
and scheduled these items for the December 15, 2005 council meeting at
the applicant's request.)
B.
CONSENT AGENDA
1.
Regular Consent Agenda (any
regular consent agenda item pulled for discussion will be discussed at
the beginning of the old/new business portion of the agenda, which is
item H on this agenda)
a.
Consideration of approval of the minutes of the regular town
council meeting held on October 20, 2005
,
the minutes of the Alston regional activity center concept plan work
session held on
October
25, 2005
,
and the minutes of the economic development work session held on
November
1, 2005
.
(Approved)
b.
Consideration
of a request to sell Town property located adjacent to
415 Livingstone Drive
to the adjacent property owners, Bill and
Anita Ketcham, at a cost of $2,370. NOTE:
Council authorized staff to proceed with the upset bid method at the
October
20, 2005
council
meeting. (Approved)
c.
Consideration
of adoption of certificates of sufficiency and resolutions calling for
public hearings to be conducted on the following annexations.
(1)
05-A-32:
The property is located west of and adjacent to
719 Pittard Sears Road
and contains 47.24 acres. There is no associated development plan.
(Public
hearing requested for
December
15, 2005.) (Approved)
(2)
05-A-33: The property is located at the intersection of
West Ferrell Road
and
Lewter Shop Road
and contains 78.23 acres. There is no associated development plan.
(Public
hearing requested for January 12, 2006
.)
(Approved)
(3)
05-A-34: The property is located at the intersection of
Green Level Church Road
and
Green Hope School Road
and contains 1.54 acres. There is no associated development plan.
(Public
hearing requested for
December
15, 2005.) (Approved)
(4)
05-A-35: The property is located at
5859 Tryon Road
and
2918 Jones Franklin Road
and contains 2.22 acres. The annexation is associated with site plan
05-SP-123 for CVS.
(Public
hearing requested for
December
15, 2005.) (Approved)
2.
Land Development Consent Agenda (any
land development consent agenda item pulled for discussion will be
discussed at the beginning of the land development discussion portion of
the agenda, which is item F on this agenda)
a.
Young Property Development-Related Items: Staff
and the Planning and Zoning Board recommend unanimous approval.
(1)
Land Use Plan Amendment 05-LPA-14 (Young Property)
The
current land use plan designation is Commercial; the proposed land use
plan designation is Low Density Residential. (See 05-REZ-24 [below] for
property description.)
(Approved)
(2)
Rezoning Petition 05-REZ-24
This request represents a portion
of the property located at
1344 Old Apex Road
and contains 3.7 acres. The current zoning is
General Commercial Conditional Use; the proposed zoning is
Residential-40, which would return the property to its original
residential zoning.
(Approved)
b.
Rezoning 05-REZ-34 (Twin Lakes Planned Development District
Amendment)
The property is located east of Davis Drive and west of Town Hall Drive
between Morrisville-Carpenter Road and McCrimmon Parkway and contains
300.86 acres. The proposal seeks to amend the conditions of the current
planned development district in order to redistribute the number
of residential units allowed within the
Twin
Lakes
development based upon reconfigurations of the various subdistricts in
the project. Amendments affect the number of units and/or the size of
individual subdistricts, with the density of such subdistricts changing
to reflect the revisions. The overall dwelling unit cap of 1,044 total
units and the overall gross density of 5.0 dwelling units per acre will
remain the same. Staff
and the Planning and Zoning Board recommend unanimous approval.
(Approved)
c.
Laurel Park Planned Development Related Items: Staff
and the Planning and Zoning Board recommend unanimous approval.
(1)
Land Plan Amendment 05-LPA-12
The current land use plan
designation is Office/Industrial; the proposed land use plan designation
is Medium Density Residential. (See 05-REZ-28 [below] for property
description.)
(Pulled
from the consent agenda for discussion; refer to agenda item F.5. for
action.)
(2)
Rezoning 05-REZ-28
The
property is located at
2450 Laura Duncan Road, southeast
of the intersection of
Laura Duncan Road
and
Old Apex Road
.
The current zoning is Office, Research and Development; the proposed
zoning is Planned Development District and will provide for a
residential mixed-use medium density community.
(Pulled
from the consent agenda for discussion; refer to agenda item F.5. for
action.)
d.
Woodland Terrace
Development Related Items: Staff
and the Planning and Zoning Board recommend unanimous approval.
(1)
Land Plan Amendment 05-LPA-15
The
current land use plan designation is Medium Density Residential; the
proposed land use plan designation is High Density Residential. (See
05-REZ-25 [below] for property description.)
(Approved)
(2)
Rezoning 05-REZ-25
The property is located at
400 Kildaire Woods Drive
and contains 21.6 acres. The request is to
amend the conditions of the existing Office and Institutional
Conditional Use Zoning to allow an increase in the residential density,
to direct the placement of buildings, and to modify buffer requirements.
(Approved)
e.
Rezoning 05-REZ-29 (Dilweg
Property)
The
property is located immediately south of the intersection of Davis Drive
and Collins Road and 70 feet east of Davis Drive Elementary/Middle
School and contains 9.6 acres. The current zoning is Office and
Institutional Conditional Use; the proposed zoning is Office, Research
and Development Conditional Use. (NOTE: The Land Plan Amendment,
05-LPA-16, is no longer necessary based on new conditions and has been
withdrawn.) Staff
and the Planning and Zoning Board recommend unanimous approval.
(Pulled
from consent agenda for discussion; refer to agenda item F.6. for action)
f.
Site Plan 05-SP-002
(Triangle Transit Authority Downtown Cary
Station)
The site is located between North Harrison Avenue and North Academy
Street, on the north side of the existing railroad tracks, adjacent to
the Cary Chamber of Commerce Building and contains 3.33 acres. The plan
proposes a train platform along the north side of the existing railroad
tracks. Staff
and the
Town
Center
Advisory
Commission recommend unanimous approval. (Removed
from this agenda and scheduled for the 12/15/2005 council meeting)
3.
Planning and Development Committee, October 20, 2005 (any
committee consent agenda item pulled for discussion will be discussed at
the beginning of the committee discussion portion of the agenda, which
is item G on this agenda)
a.
Consent Agenda
(1)
Tryon Plaza
CVS
– Request waiver of Tryon Road
Widening (EN06-045)
Committee unanimously recommended approval of
a request to waive Tryon Road widening requirements associated with site
development subject to dedication of right of way and providing a 15’
temporary construction easement beyond the proposed right-of-way in case
of future widening by the Town.
(Approved)
b.
For Information Only (no council action required)
(1)
Ivy Creek Townhomes –
Request to Close Access to Cardinal Woods Apartments
(EN06-044)
Committee tabled this item until the
November 17, 2005
Planning and Development Committee meeting.
Staff was directed to meet with the representative of the homeowners
association to see if a compromise solution can be achieved.
(For
information only; no council action required)
(2)
Brandywine
Subdivision – Request Waiver
from providing cul-de-sac at the end of
Deerwood Place
(EN06-046)
Committee tabled this item at the request of
the applicant until the
November 17, 2005
Planning and Development Committee meeting.
(For
information only; no council action required)
4.
Operations Committee, November 2, 2005 (any
committee consent agenda item pulled for discussion will be discussed at
the beginning of the committee discussion portion of the agenda, which
is item G on this agenda)
a.
Consent Agenda
(1)
Bid Award – Train
Platform at
CSX
S-Line Construction Project
(EN06-042)
Committee unanimously recommended:
1) bid award for the construction of the train platform on the
CSX
S‑Line at the Cary Depot to Holmes
Contracting, Inc. for $274,696;
2) execution of a Supplemental Agreement with NCDOT to increase its
participation from $154,800 to $270,000; and
3) an appropriation of $10,843 from Cable TV Franchise Fee to this
project (ST1108) to meet the Town’s ten percent funding obligation.
(Approved)
(2)
Bid Award – Cary/Apex Water Treatment Facility Residuals
Improvements Project (EN06-048)
Committee unanimously recommended bid award for the Cary/Apex Water
Treatment Facility Residuals Improvements Project to State Utility
Contractors for $925,900 and adopting Alternate B of the bid tabulation
and awarding the centrifuge equipment purchase to Westfalia for their
Model CC458 Centrifuge.
(Approved)
(3)
Green Level to
Durham
Road
Right
of Way Closing (EN06-049)
Committee unanimously recommended approval of a resolution approving the
request to NCDOT to close a portion of Green Level to
Durham Road.
(Approved)
(4)
Condemnation Resolutions for White Oak Creek Utility Pipeline and
Greenway Easements (EN06-050)
Committee unanimously recommended approval of
Resolutions Authorizing Condemnation for White Oak Creek Utility
Pipeline and Greenway related to the West Cary Force Main and Pump
Station Project.
(Approved)
(5)
Extension of Bond Orders
(FN06-003)
Committee unanimously recommended setting a
public hearing for
December 15, 2005
on a three-year extension of bond orders
which were approved by voters on
February 2, 1999.
(Approved)
(6)
Discharging Firearms Within Town
Limits (PD06-007)
Committee unanimously recommended approval of
an ordinance amendment relating to discharging firearms inside Town
limits.
(Approved)
(7)
FY 2006 Sidewalk Priority List (PL06-016)
Committee unanimously recommended the following sidewalks be designed
and constructed as part of the FY2006 Sidewalk Project:
Walnut Street from
Ralph Drive
to
Kildaire Farm Road
SW Cary Parkway
from
W. Chatham Street
to Baron’s Glen
Belhaven Road
from
Kingswood Drive
to
Gregory Drive
Ecklin Lane
from
Morrisville Parkway
to
Walcott Way
Queensferry Road
from
Kildaire Farm Road
to
Annandale Drive
Glasgow Road
from
Kildaire Farm Road
to
Annandale Drive
(Approved)
(8)
Loch Highlands Drive Multi-use
Path Request (PL06-017)
Committee unanimously recommended that the Town assume ownership of the
Loch Highlands Drive multi-use path upon receipt of the first payment of
$5,000 and execution of a deed conveying a 10-foot easement along the
existing path with final acceptance occurring when the 3rd
$5,000 payment is made. Committee
also recommended a budget adjustment to create a new capital project of
$15,000 to schedule improvements to the existing path with a
corresponding budgeted reimbursement of $15,000 to be paid in three
$5,000 installments.
(Approved)
(9)
Parks, Recreation and Cultural
Resources Committee Structure Policy (PR06-012)
Committee unanimously recommended adoption of
the Parks, Recreation and Cultural Resources Committee Structure Policy.
(Approved)
(10)
Budget Amendment for the
Cary-Morrisville
Utility Systems Merger
(PWUT06-008)
Committee unanimously recommended that
Council:
1) Amend the FY2006 budget ordinance to appropriate $1,241,574 in
utility operating expenditures;
2) Amend the budget ordinance to reflect an additional $1,361,434 in
retail water and sewer revenues, and a reduction in wholesale revenues
of $271,764;
3) Appropriate $15,475 to fund balance of the utility fund to offset
future merger costs;
4) Appropriate $167,379 from fund balance of the utility fund to cover
Cary’s share of additional operating costs resulting from the merger.
(Approved)
(11)
Amendment to Camp Dresser &
McKee (CDM) Contract and Appropriation of Additional Funding for Project
WT1116 for Utility Merger Services (PWUT06-009)
Committee unanimously recommended approval of an amendment to the
professional services agreement with CDM for additional merger
services needed to study water quality issues
in the integration of Morrisville into the Town of Cary distribution
system and an additional appropriation of $34,200 from the
unrestricted utility capital reserve fund balance to the Utility Merger
Study (Project WT1116) contracted services account.
(Approved)
(12)
Amendments No. 2 and 3 to CH2M Hill’s Agreement For Utility
Merger Services
(PWUT06-010)
Committee unanimously recommended approval of Amendments No. 2 and No. 3
to the professional services agreement with CH2M Hill for
additional work needed to develop a hydraulic
model to examine future water pressure issues associated with the
Morrisville water distribution system and to perform due diligence
assistance in implementing the Cary-Morrisville water and sewer utility
merger and an appropriation of $125,227 from the unrestricted utility
capital reserve fund balance to the Utility Merger Study (WT1116).
(Approved)
(13)
Fees for Communications Equipment on Town Facilities (TS06-001)
Committee unanimously recommended increasing fees for location of
communications equipment on Town owned water tanks and communications
towers. The new fee will be
$2,500 per month for the first five years of an agreement with the rate
being increased for each of the next five years based on the Consumer
Price Index.
(Approved)
(14)
Churchill Estates Reimbursement
Contract and Sewer Options (EN06-051)
Committee unanimously recommended approval of
a request for a reimbursement contract for Churchill Estates
subdivision and directed staff to explore all reasonable options for
locating the sewer line.
(Approved)
(15)
Cary
Morrisville
Utility Systems Merger Agreement (PWUT06-007)
Committee unanimously recommended approval of
the agreement to merge the Morrisville water and sewer utility systems
into the
Cary
water and sewer utility systems.
(Approved)
b.
For Information Only (no council action required)
(1)
Utility Service to
Terrington Subdivision (EN06-052)
Committee tabled this item to the December Operations Committee meeting.
(For
information only; no council action required)
C.
RECOGNITIONS, REPORTS, AND PRESENTATIONS
1.
Recognition
of Red Ribbon Poster Contest winners. (Recognized)
2
Recognition
of the Town of
Cary Water Conservation Team
as the recipient of the 2005
Irrigation Association National Water and Energy Conservation Award. (Recognized)
D.
PUBLIC HEARINGS
1.
Crossroads Regional
Activity
Center
Development-Related Items:
These public hearings
were continued from the
October 20, 2005
council meeting. The council may
forward these items to the
December 19, 2005
Planning and Zoning Board
meeting.
a.
Land Use Plan Amendment 05-LPA-20
The current Land Use Plan
designation is Office and Institutional; the requested Land Use Plan
designation is High Density Residential. (See 05-AC-008 [below] for
property description.)
(Referred to the 12/19/2005 planning & zoning board meeting)
b.
Activity
Center
Concept
Plan 05-AC-008
The property is located within the
Crossroads
Regional
Activity
Center
at
5520 Dillard Drive
and contains 21.02 acres. The request is to allow high density
residential development.
(Referred to the 12/19/2005 planning & zoning board meeting)
2.
Rezoning 05-REZ-35 (Cary
Park Planned Development District Amendment)
The property is located at the intersection of
Cary Glen Boulevard
and
Carpenter Fire Station Road
and consists of 424.26 acres. The request is
to remove the affordable housing policy as a requirement for the
Cary
Park
planned development. Council
may refer this item to the
January
17, 2006
Planning
and Zoning Board meeting. (Referred
to the 1/17/2006 planning & zoning board meeting)
3.
Annexations
Public hearings on the following annexation petitions. Suggested
action is noted with each annexation agenda item.
a.
05-A-19: The property is located 1150 feet northeast of
NE Maynard Road
and
Chapel Hill Road
and contains 6.10 acres. The associated development plan is 05-SB-011
(Duxbury Woods at Braeloch). Council
may take action on this item immediately following the public hearing.
(Approved)
b.
05-A-21: The property is located at
604 Reedy Creek Road
and contains 6.22 acres. The associated development plan is 05-SP-031
(Davidson Point Townhomes). Council
may take action on this item immediately following the public hearing.
(Approved)
c.
05-A-22: The property is located at
2605 through
2629 Iveysprings Court
and
8300 Covington Hill Way
and contains 8.53 acres. It is associated with the Park at
Westlake
development. Council
may take action on this item immediately following the public hearing.
(Approved)
d.
05-A-23: The property is located
at the intersection of O’Kelly Chapel Road (Chatham
County) and
Pittard Sears Road
and contains 39.60 acres. It is associated with rezoning case 05-REZ-26
(Amberly PDD). Council
may defer vote on this annexation to occur with item F.4. on this agenda
(Amberly PDD Amendment).
(Tabled
until the 12/15/2005 council meeting)
e.
05-A-24: The property is located at
E. Ferrell Road; 1285 Ernest Jones Road; 1164 Ferrell Road;
104, 192, 195 Wrong Way; Ferson Road, which is west of the intersection
of Yates Store Road and Green Level Church Road centered on the Wake
County/Chatham County line. The request is comprised of 84.59 acres. It
is associated with rezoning case 05-REZ-27 (Weldon Ridge PDD Amendment).
Council
may defer vote on this annexation to occur with item F.3. on this agenda
(Weldon Ridge PDD Amendment).
(Approved)
f.
05-A-25: The property is located at
3329 NC 55 Highway and
Green Hope School Road, at the intersection of
Green Hope School Road
and NC Highway 55, and contains 7.98 acres. The associated development
plan is 05-SP-093 (Highcroft Commons). Council
may take action on this item immediately following the public hearing.
(Approved)
g.
05-A-26: The property is located on
Mickey Lane, which is
550 feet north of the intersection of
Reedy Creek Road
and
E. Dynasty Drive, and contains 5.07 acres. The associated development
plan is 05-SB-004 (Talton Place Subdivision). Council
may take action on this item immediately following the public hearing.
(Approved)
h.
05-A-27: The property is located on
Carpenter Fire Station Road
and
Mercer Grant Drive, which is at the intersection of
Carpenter Fire Station Road
and
Buxton Grant Drive. The request is comprised of 21.10 acres and is
associated with the Cameron Pond Planned Development. Council
may take action on this item immediately following the public hearing.
(Approved)
i.
05-A-28: The property is located at
Reedy Creek Road
and 500, 501, 502,
503 Melody Lane, which is at the intersection of
N. Harrison Avenue
and
Homestead Drive, and contains 20.89 acres. The associated development
plan is 05-SB-022 (Holloman Tract). Council
may take action on this item immediately following the public hearing.
(Approved)
j.
05-A-29: The property is located at
1522 Fairbanks Road
and contains 6.61 acres. The associated development plan is 05-SB-018
(Gallup Subdivision). Council
may take action on this item immediately following the public hearing.
(Tabled
to 12/15/2005)
k.
05-A-30: The property is located at
1600 Old Maynard Road
and
Koppers Road, which is 570 feet north of the intersection of
Old Maynard Road
and
McCrimmon Parkway. The property consists of 41.95 acres. The associated
rezoning case is 05-REZ-04 (Old Maynard PDD). Council
may take action on this item immediately following the public hearing.
(Approved)
l.
05-A-31: The property is located at
4400 thru 4409 Alden Mist Court, 4905 through 4952 Mashpee
Lane, 5109 through 5172 Dove Forest Lane, 7128 through 7232 Capulin
Crest Drive, 4424 through 4505 Fairview Ridge Lane, and 5800 through
5936 Larboard Drive and contains 60.37 acres. There is no associated
rezoning or development plan. Council
may take action on this item immediately following the public hearing.
(Approved)
E.
PUBLIC SPEAKS OUT (one hour time limit)
See
official minutes
F.
LAND DEVELOPMENT DISCUSSION ITEMS
(any item pulled from the land development consent agenda for discussion
[item B.2. on this agenda] will be discussed during this portion of the
agenda)
1.
Horton Planned Development Related Items: Council
may take action on these items.
a.
Land Plan Amendment 05-LPA-07
The current land use plan
designation is Medium Density Residential to High Density Residential;
the proposed land use plan designation is Low Density Residential. This
request amends the Comprehensive Transportation Plan by deleting a
collector road. (See property descriptions below.)
(Approved)
b.
Rezoning 05-REZ-12 (Amberly
Activity Center Overlay District)
The property is located in the southwest corner of Green Level to
Durham Road and O’Kelly Chapel Road and contains 41.34 acres. This
staff-initiated request is for the approval of an Activity Center
Overlay District (ACOD) designation
for areas mapped for such designation on the Northwest Area Plan.
This overlay lays the groundwork to approve the Activity Center
Concept Plan. The Land
Development Ordinance requires that an ACOD designation be installed
onto a property before an Activity Center Concept Plan may be approved.
(Approved)
c.
Activity Center Concept
Plan 05-AC-002 (Horton Activity Center Concept Plan)
The purpose of this application is to establish an Activity Center
Concept Plan providing areas of commercial and single family
detached residential development on 41.34 acres of land. (See property
location description in item 05-REZ-12 [above].)
(Approved)
d.
Rezoning 05-REZ-11 /
(Horton Planned Development District)
The property is located 370 feet south of the intersection of Green
Level to
Durham Road
and
O’Kelly Chapel Road
and contains 36.02 acres. The proposed
development includes single-family detached residential.
(Approved)
2.
Rezoning 05-REZ-23 (Stalls Medical)
The property is located at 502 and
504 Reedy Creek Road
and contains 2.96 acres. The request is to
amend the conditions of the existing Office, Research and Development
Conditional Use Zoning to allow for vehicle sales and rental as a
permitted use. Council may take
action on this item. (Approved)
3.
Weldon Ridge Planned Development Related Items (formerly known as
Forest
Oaks):
Council
may take action on the association annexation (05-A-24, which is item
D.3.e. on this agenda); next, the council may take action on the land
use plan amendment and the rezoning.
a.
Land Use Plan Amendment 05-LPA-18
Currently
there is no land use plan designation in
Chatham
County
. This amendment will add a Low Density
Residential designation (for SF-7). Properties within
Wake
County
will maintain their current land use plan
designation. (See 05-REZ-27 [below] for property description.)
(Approved)
b.
Rezoning Petition 05-REZ-27
The
property consists of 11 parcels located between 2,000 and 5,000 feet
from the intersection of
Ferrell Road
and
Green Level Church Road
on the north side of
Ferrell Road
and contains 89.46 acres. The current zoning
is Residential 40 (Wake
County) and Residential Agriculture 40
(Chatham
County); the proposed zoning is Planned
Development District Major, which would add land for single-family
development.
(Approved)
4.
Amberly Planned Development Amendment Related Items: Council
may take action on the association annexation (05-A-23, which is item
D.3.d. on this agenda); next, the council may take action on the land
use plan amendment and the rezoning.
a.
Land Plan Amendment 05-LPA-13
The current land use plan
designation is Very Low Density Residential and Low Density
Residential; the proposed land use plan designation is medium density
residential. (See 05-REZ-26 [below] for property description)
(Removed
from this agenda and scheduled for the December 15, 2005 council
meeting)
b.
Rezoning 05-REZ-26
The
property is located southwest of the intersection of
Pittard Sears Road
and
O’Kelly Chapel Road
, approximately 5,400 feet west of the
intersection of
O’Kelly Chapel Road
and Green Level to
Durham Road
. The property contains 38.85 acres. The
current zoning of the property is Chatham County Residential
Agricultural, and the request would expand the medium density age
restricted community associated with the Amberly Planned Development
District.
(Removed
from this agenda and scheduled for the December 15, 2005 council
meeting)
5.
Laurel Park Planned Development Related Items: Staff
and the Planning and Zoning Board recommend unanimous approval.
a.
Land Plan Amendment 05-LPA-12
The
current land use plan designation is Office/Industrial; the proposed
land use plan designation is Medium Density Residential. (See
05-REZ-28 [below] for property description.)
(Approved)
b.
Rezoning 05-REZ-28
The
property is located at
2450 Laura Duncan Road, southeast
of the intersection of
Laura Duncan Road
and
Old Apex Road. The current zoning is
Office, Research and Development; the proposed zoning is Planned
Development District and will provide for a residential mixed-use
medium density community.
(Approved)
6.
Rezoning
05-REZ-29 (Dilweg Property)
The property is located
immediately south of the intersection of Davis Drive and Collins Road
and 70 feet east of Davis Drive Elementary/Middle School and contains
9.6 acres. The current zoning is Office and Institutional Conditional
Use; the proposed zoning is Office, Research and Development
Conditional Use. (NOTE: The Land Plan Amendment, 05-LPA-16, is no
longer necessary based on new conditions and has been withdrawn.) Staff
and the Planning and Zoning Board recommend unanimous approval. (Approved)
G.
COMMITTEE REPORTS (discussion
items)
1.
Planning and Development Committee,
October 20, 2005
(any item pulled from the committee consent
agenda for discussion [agenda item B.3.] will be discussed during this
portion of the agenda)
N/A
2.
Operations Committee,
November 2, 2005
(any item pulled from the committee consent
agenda for discussion [agenda item B.4.] will be discussed during this
portion of the agenda)
a.
Capital Funding
Approach To Delay Debt Issuance
(AD06-002)
Committee recommended by a vote of 2 to 1
(Jack Smith dissenting) that the Town not delay bond sales for one year
by initially paying project costs with cash and reimbursing that cash
when the bonds are later sold. Committee
did request more detailed information on the estimated $931,000 cost of
the one year delay as well as the implications of delaying for six
months rather than one year.
(Delayed to 12/15/2005 meeting; ad-hoc
committee comprised of Mayor McAlister and Council Members Dorrel and
Joyce appointed to meet with staff)
H.
OLD/NEW BUSINESS
(any item pulled from the regular consent agenda for discussion [agenda
item B.1.] will be discussed during this portion of the agenda)
1.
Highland Village
Amendment of Loan Terms (PL06-007a)
Committee unanimously recommended that 1) the
$600,000 loan be forgiven after the affordable housing goals have been
met, 2) an additional grant of $200,000 be made to the project from
General Fund fund balance, 3) the Town endorse this project for HOME
grant funds, and 4) periodic reports be made to the Planning and
Development Committee regarding the status of the project and a report
and accompanying recommendations be made on the legal research to ensure
long-term affordability of the units. [Note:
This item was recommended for the Consent Agenda but has been
moved to Discussion at the request of Mayor McAlister.] This
item was tabled at the September 22 and the
November
10, 2005
council
meetings. Council may take action on this item. (Approved
new staff recommendation: 1.
Restructure
the $600,000 loan.
The Town would extend the
$600,000 loan coming due on
December 31, 2005
until the homeownership phase is
completed and a least 40 units are sold to low income families.
However, if DHIC is successful in securing the SunTrust loan, the
due date of the Town’s loan would exceed the term of the SunTrust loan
by one year. The term of
the SunTrust is proposed to be 24 months with a possible 12-month
extension. The Town will
subordinate its loan to that of SunTrust and agree to release its lien
on a lot by lot basis as each lot is sold with a $0 lien release fee.
2.
DHIC
proposes to repay the Town its $600,000 using deed transfer fees as a
source of repayment.
Under this proposal the Town would receive a fee equal to 1% of
the sales price on all home sales each time the townhome or condominium
is sold over a 30-year period. DHIC
is relieved of repayment of the $600,000 in a lump sum and the
responsibility for repayment of the Town’s investment is transferred
to the homebuyers as originally intended.
The fiscal impact of this proposal is discussed below.
3.
DHIC
will seek to reduce costs while maintaining the level of quality already
set at
Highland
Village.
DHIC will employ cost reduction
strategies including using a condominium ownership model for the
townhome development to eliminate the $147,000 recreation development
fees. Also proposed is the
elimination of the steps connecting the Village Green area to
High House Road
at an estimated cost savings of
$35,000.
4.
Support
an effort by DHIC to secure additional funding through
Wake
County.
In 2004 the Town of
Cary
joined
Wake
County
in a consortium to secure additional funding
under the HOME Investment Partnership Act.
Because of
Cary’s participation in this consortium,
Wake
County
receives approximately $150,000 more in HOME
grant funds. In exchange,
Wake
County
agreed to fund HOME projects within the Town,
as requested by Town staff.
Wake
County
has issued a request for proposals for
projects utilizing HOME funds that is due on
December 16, 2005.
DHIC would submit a request for HOME funding to
Wake
County.
The Town would support DHIC’s request to the County as our top
priority for this year. Depending
upon the amount received from
Wake
County
, the Town would seek to make up any
remaining funding gap through CDBG or from other affordable housing
sources in FY 2007 within reasonable limits.)
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