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Everett V. Knight <br />Chapel Hill Appraisals & Consultants <br />PO Box 16625 <br />Chapel Hi11, NC 27516 <br />(919) 932-9908 <br />Mr. John Fugo March 3 1, 2008 <br />Buckharn Road Associates, LLC <br />190 Finley Golf Course Road <br />Chapel Hill; NC 27517 <br />Subject: Impact Analysis of the Proposed Buckhorn Village Planned Development- <br />Economic District, and Class A Special Use Permit located at the <br />Intersection of I-85 & Buckhorn Road in western Orange County, NC <br />Dear Mr. Fugo, <br />In response to your request, and as outlined separately in our Engagement Letter, I have <br />investigated and summarized the potential impact of the .proposed Buckhorn Village <br />Planned Development -Economic Development District (BVPD-ED) & Class A Special <br />Use Permit on the site (as if 100% complete) on the surrounding neighborhood area. j <br />The property is located at the southeast career or the intersection of I-85/40 and <- <br />Buckhorn Road (SR 1114), in western Orange County approximately one (1) mile from <br />the Orange/Alamanee County line. The site consists of multiple parcels totaling <br />approximately 130 acres, according to the application and supporting documents filed <br />with the Orange County Planning Department. The properties are currently zoned EDD <br />(I-85Buckhorn Road Econornie Development District). I-85/40 is the major east-west <br />transportation arterial in central Orange County and Buckhorn Road is a major north- <br />south arterial in western Orange County. (See Buckhorn Village Public Notice Map <br />Addendum attached). The proposed Buckhorn Village BVPD-ED/SUP seeks to develop <br />over one million square feet of retail, service, office, and limited residential land uses all <br />under a single unified development control plan. This development would be controlled. <br />by a comprehensive master land use, development standards, utilities, multi-modal <br />transportation, and open space program, according to Orange County Planning. <br />This Report describes my opinion of the effect of the "Assumption" that the proposed <br />Buckhorn Village Development is 100% complete per the proposed BVPD-ED/SUP on <br />the surrounding properties and neighborhood: <br />An Assumption or Extraordinary Assumption is defined as: an assumption, <br />directly related to a specific assignment, which, if found to be false, could alter <br />the appraiser's opinions or conclusions (Assumptions presume as fact uncertain <br />information, in this case it is assumed 100% compete per the BVPD-EDISUP). <br />