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homes coming into the Orange County school district, including Corbin Downs. They are feeling extreme pressure to plan for new schools, especially a new middle school. 3. PRESENTATION OF PROPOSED CORBIN DOWNS DEVELOPMENT Boots Elam, land planner for this proposed development, said that he feels the input he has received has made this a better project. He wants to be a good neighbor, not only to Hillsborough, but also to Orange County. The project name was changed from Hillsborough Place to Corbin Downs by request from the Town. This name was derived from the man who first surveyed the town of Hillsborough. He made reference to several maps. He said that the project is located at the intersection of 1-40 and Old North Carolina 86 with frontage on new North Carolina 86 to the east. The project consists of 337.7 acres. Their goal in establishing this project is to try to establish a project that meets the goals of the Economic Development District (EDD). His firm wants to create an employment center with a living center attached to it. They want to create a living center that could cover all facets of housing, from assisted living, to retirement, to family housing, to apartments, to town homes. All of this would be developed in a village atmosphere based around an employment center. He said that the newspaper always has articles about parking problems in the Triangle area. He said there has been a focus in a lot of the metropolitan areas to provide a housing base located within employment centers. Corbin Downs would provide places to live near places to work. In the beginning they went through a land analysis. The first map they analyzed was the slope of the property to understand the character of the property as it related to the typography. Another map was a soil map that helped in anticipation of erosion and in identifying other techniques that may need to be utilized. Another map was the hydrology map that indicates the location of any flood prone areas and how the site was being drained naturally. Another map was the vegetation map. They felt it important to save as much of the vegetation as possible during the project. They overlaid all the maps using a filter mapping process to come up with a development suitability map. From there, using the goals and objectives of the project, a number of sketch master plans were derived and a master plan was proposed. This master plan broke the property down into areas that would be single family and office flex-business park, assisted living, retirement, apartments, town homes, office, wholesale, retail, a transit stop, and a daycare Montessori school located on the site. In reviewing the EDD and how they derived the land use plans, they worked with their transportation engineers to come up with routes that would lead back to old and new 86. They then derived a plan that sets up the basic schematics of how they envision the project to develop. On a map, Mr. Elam showed what they did to carry out the theme of the history and character of the existing town. Also, they looked at the entrances to the property and then prepared the document which went to public hearing. They received a lot of input from citizens, staff, and town board members at the public hearing. They took the input and revised the plan. The Planning Board reviewed the plan and had another work session with the Town Commissioners to go over the design. The developer said that they also met with the Superintendent of schools and have indicated to Orange County that they maybe able to help with a school site. It is their position that they will work with Orange County either at this site or another site. The developer will provide a school site. Currently they understand that there is an impact fee of $750.00 per unit and they are proposing to add an additional $100 per unit so they will pay $850.00 per unit to the school system. Also, based on the input received, there are 100-foot buffers around the perimeters of the property. They will have ball fields and soccer fields that will be available to all citizens in the community. They had proposed a public safety facility that would be in the eastern part of the property. The Town has requested that it be relocated. They will give five acres plus $300,000 to the Town for that facility. The developers will pay approximately $1,000,000 for waterlines to the development. They have tried to take all the pubic comment into consideration in the plan. They do not see this as an adversary role, but as fulfilling a goal in development of this EDD. 4. REVIEW SUMMARY BY STAFF a. Town - Operational and Fiscal Impacts Town Manager Eric Peterson focused on the financial and operational impacts related to the Town of Hillsborough. The most important issues and impacts occur during the first three years. Year one, there will be a deficit. In years two and three the deficits are significant and this needs a lot of thought. If the Board decided to annex this area, they would need to resolve these deficit issues. He said that 77% of the total costs allocated to the Corbin Downs development is public safety related - fire and police. One of the most important points that the Town Board will need to evaluate is the investment in locating a fire and police department in that area. It is evident that development is going to come to this area, it is just a matter of when. As other development occurs, there is an economy of scale, regardless if this area is annexed. He talked about the benefit to the Town by providing water to this area. He said that the Town will not need any more personnel as a result of this project. There would be a deficit the first year in the water fund, but the second and third years the Town would have a surplus. The Town's major concern is making sure that any new development pays for itself. He said that one of the other benefits of this project would be that the EDD would be open for other development. The Town would benefit whether or not the property is annexed. He said there is risk by trying to do this. If the property is annexed