Minutes - 20080603 - Laserfiche WebLink

Browse Search

Metadata

Thumbnails

Annotations

• Public services (safety and infrastructure) limited as Mebane will annex within one year of construction initiation or at Certificate of Occupancy • Wages unlikely to encourage people employed at the development to relocate, limiting impact on schools • New 200 multi-family units will have some impact on schools • No environmental permits, other than standard construction permits, are required Additional Benefits • Infrastructure extensions will open an economic development zone for future growth • Spin-off development for small businesses offering services to Buckhorn Village Sustainability • Retail leakage indicates residents are driving to neighboring retail markets — creating shopping and entertainment centers locally encourages people to remain in county • Anchors spur small business development • Creating local jobs will combat out-commuting (population growth almost double labor force growth) • Residential development is subsidized by industrial and commercial development @ $4.21 to $0.76 • Retail, food service jobs important to an economy • Infrastructure extensions will not open residential areas Summary • Consistent with land use plan • Opens an economic development zone for future employment centers • Will provide significant new tax revenues • Minimal, short-term cost to public services until annexation • Keeps more citizens working and shopping locally Commissioner Gordon made reference to the analysis of sales tax revenue and asked how this number was determined. Crystal Morphis said that in North Carolina retail sales tax is shared within the County and the municipalities on a per capita population basis or an ad valorem tax base. In Orange County, it is population base. She said that she gathered from staff, that in general, about half of the property tax that comes to the County is shared with the municipalities based on that per capita population base formula. Commissioner Gordon asked about the confidence of the estimates of the sales tax. Crystal Morphis said that she is very confident of the property tax and the retail sales tax, but all of the calculations are based on assumptions and until a store is open, an exact number cannot be pinpointed. Commissioner Gordon pointed out that people from this immediate area could come and shop, but people from farther out might not come as gas prices rise. She asked how this would affect the analysis. Crystal Morphis said that she thinks rising gas prices would be of benefit to this project because the people that are leaving the community now to go to other counties and shop would be coming here because it would be closer. Commissioner Nelson made reference to retail leakage and said that the population center is Chapel Hill and Carrboro and people in that area would not drive 30 miles round trip to shop here versus 15 miles to shop at Southpoint.