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decreasing the taxes in phases. This caused a tremendous tax increase for people in the County. She hopes the County will hold the Chapel Hill/Carrboro school system harmless for this. She said the other reason for the inequity is that the Chapel Hill/Carrboro school system is growing three times as fast as the Orange County school system. The Board agreed to adopt a formula to determine the amount of school funding. This will be discussed again. 4. Proposed Corbin Downs Development Craig Benedict gave a summary of this project. The applicant has decreased the amount of residential units from the original plan from over 1,200 to about 750 including 180 single family, 460 apartments, and 90 townhouses. He said the school impact had decreased to a large degree because apartments do not generate as many students as townhouses. He summarized the agenda for the meeting on September 8t". He said the big issue with the staff is traffic. The whole town of Hillsborough will be impacted by the increased traffic. The projected taxable value of this project is 243 million dollars. He needs to take a look at the additional staff hours necessary to service a project of this size from a building standpoint. He listed some of the impacts that a development this size would have on the immediate area. Geoffrey Gledhill pointed out that at least half of the commercial area would be built in the last three years of the project. The phasing is very important. Commissioner Jacobs asked if there were height limitations on the project, and could it be built up instead of out. Craig Benedict said there are tradeoffs for preserving open space by allowing vertical buildup, but space must be allowed for parking. Commissioner Halkiotis thinks the Board should bring up the list of services the County provides to the Town of Hillsborough at the meeting on September Stn Commissioner Brown asked if Hillsborough would annex this property, and Craig Benedict said yes. Commissioner Jacobs feels the Board needs to go into this meeting taking a position that this is a positive step that they are sitting down with Hillsborough and discussing this in advance of annexation. He thinks the Board should get these issues out on the table. Hopefully, Hillsborough will be willing to meet with the Board again after the issues are identified. ADJOURNMENT With no further items for Board consideration, Chair Gordon adjourned the meeting. The next regular meeting is scheduled for September 7, 1999 at 7:30 p.m. in the F. Gordon Battle Courtroom in the new County courthouse in Hillsborough, North Carolina. Alice M. Gordon, Chair Beverly A. Blythe, Clerk