NEWS RELEASE

FOR IMMEDIATE RELEASE October 28, 1997

CP&L REQUESTS WITHDRAWAL OF

CARDIFF PARK PROPOSAL

CARY -- Carolina Power & Light has announced that it will no longer pursue development of Cardiff Park apartments in Cary. In a letter to Town officials today, CP&L’s Don Dixon stated "Unfortunately, it is clear that Cardiff Park complex has become a divisive issue, pitting neighbor against neighbor and thereby diluting the effect of our partnership with the Cary community."

Consideration of the affordable housing development has been pulled from the agenda of the Town’s Appearance Commission which meets today at 5:30 p.m.

"We value CP&L’s presence in our community and appreciate the difficult position in which they were placed," said Town Manager Bill Coleman, who emphasized the ongoing need for affordable housing in Cary and the Town’s commitment to proactively addressing housing issues.

Pointing to concerns expressed by Cary residents, its business community, and the Town’s own Growth Management Plan, Coleman said "The people who work in Cary deserve to live in Cary," and added that the Town "will continue to encourage the availability of housing for a wide range of groups, including the disabled, senior citizens, and middle income residents."

If it had received Town approval, Cardiff Park apartments would have been one component of the Weatherstone Planned Unit Development (PUD) which was approved by Cary officials in 1988. CP&L’s current plan called for 100 of 240 units to be reserved for moderate to low-income housing, meaning in this case that a family of four could earn up to 60% of the median income of Wake County, or up to about $31,000, and still qualify for the housing.

"We have long known CP&L to be a quality company and a solid corporate citizen," said Cary Mayor Koka Booth, pointing to the company’s efforts during Hurricane Fran as one example. "Their action today further demonstrates their commitment to listening to the communities they serve." Booth added that the Town looks forward to future partnerships with CP&L which will improve the quality of life for the residents of Cary.

PRIMARY CONTACTS: Bill Coleman, Town Manager, 469-4002

Susan Moran, Public Information Officer, 460-4951

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