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3 <br /> setting up a separate fund from general fund monies to defray the expenses for <br /> the lower income. There was a consensus of the Board to go with the $750 <br /> average fee per residential dwelling unit and create a fund that will be used <br /> to refund agencies and organizations that build low income housing. The County <br /> staff will bring back to the Board the options available for creating this <br /> fund and a recommended amount for the fund. <br /> County Attorney Geoffrey Gledhill noted that the enabling legislation <br /> allows the Board to create a time period from zero to twenty years for <br /> spending the impact fees collected. The Board decided that impact fees must <br /> be spent within ten years following their collection. This will be reflected <br /> in the CIP document. <br /> Commissioner Gordon emphasized that each district must have a plan and <br /> a documented need for the schools within the period that the impact fees will <br /> be expended. If the money is not spent, it will have to be given back year <br /> by year. <br /> ADJOURNMENT <br /> With no further discussion, Chair Carey adjourned the meeting. The next <br /> regular meeting will be held On June 2, 1993 at 7:30 p.m. at Superior <br /> Courtroom in Hillsborough, North Carolina for the purpose of holding a public <br /> hearing on the Manager's recommended 1993-94 budget. <br /> Debra Graham, Acting Clerk Moses Carey, Jr. , Chair <br /> Beverly A. Blythe, Clerk <br />