Agenda - 10-07-2014 - 6a - Laserfiche WebLink

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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 10 CIP. She is concerned with the fact that there are different numbers coming from different places regarding student projections. She asked where the numbers come from. Clarence Grier said the information was provided by the schools based on Schools Adequate Public Facilities Ordinance ( SAPFO). Commissioner Rich said won't there already be students in the school district that might be moving into one of these apartments. She would like to have this information in the packet. Michael Talbert said the extra information can be brought. He said the figure is .3 students per household in a multi - family setting. Craig Benedict said the SAPFO numbers are broken into elementary, middle, and high school. He said all of them together would equal something in the .2 range. He said it is important to know that these numbers were based on multi - family units in Chapel Hill back 20 years ago, and the new study looks at new buildings over the past 10 years. He said if new numbers come from this study, then those figures may be more realistic. He said the current projections were done by consultants based on information available now. Commissioner McKee said Chapel Hill approved the plan on Monday night. He asked for clarification on where this project stands now. Dwight Bassett said the Town approved the form based zoning to allow the re- development to occur. He said there had been previous steps and resolutions regarding financing. Ken Pennoyer said the council has passed a reimbursement resolution allowing the town to reimburse itself from the proceeds of debt issued in the future, so that the Town Hall and the Ephesus improvement projects can be funded. Commissioner McKee said the abstract notes that there is funding available to cover the gap for the first fiscal year; and he heard the earlier comment that if costs come in higher there is funding to cover that. He understands that the County's participation is not required to make this project possible. He asked if this is correct. Ken Pennoyer said if the County does not participate it would be make the town's financing weaker, but they would still move forward. He said without County participation, the town's coverage would be marginal and break even. Commissioner McKee clarified that the development will be moving forward regardless of County participation in the financing and Ken Pennoyer said that was correct. Commissioner McKee said that answers his thought that the increased expenses and revenue will be there regardless of County participation. Commissioner Dorosin said this proposal has a 20 year term. He asked if any agreement that is adopted would have some sort of provision or relief valve built in to allow for renegotiation if the project has to be scaled back. Bob Jessup said this is based on whatever the parties want to put into the contract. He said the County's obligation will be put in terms of a lesser portion of A or B, and it would not strike him that there would be a need to pull out. He said if the County were to say that participation is based on a requirement that the project include certain things, then a schedule of payments could be included. Commissioner Dorosin said collaboration is important, and this is economic development for the County. However, he feels that there are some competing interests, and the County is not getting clear answers. He would like to know how this housing is being marketed. He said it sounds as if this will be marketed to a demographic that does not have children, and while this dissolves the school question, it raises a host of issue about socio- economic diversity and affordability. He said the answers to these questions are important. He said one of the biggest draws for this area is the school system, and he thinks that their general skepticism about these student projections is real. He would like more answers to these concerns.