Agenda - 06-03-2008-5b5b - Laserfiche WebLink

Browse Search

I)I~:~~T l~I~®~J~'~S 3 1 that location about a mile and a half or so. There's a series of residential subdivisions in there 2 and these all cluster together around each other. Buckhorn Crossing is one of them, 3 Chancellor's Ridge, and Eagle's Point. Looking at all three of those, they are newer in terms of 4 age of creation. They are roughly about eight years of age or less, but there are a number of 5 sales and re-sales in the development so you can begin to gauge the effect of that location and 6 what potential appreciation levels might exist, if any. In the Buckhorn Crossing, over that period 7 of time, there was about 4.6%; at Eagle's Point there's about 4%; and Chancellor's Ridge is 8 5.3%. Coupling that with the proposed improvements as if 100% complete, I can't find any 9 evidence that would indicate that this particular location and the surrounding properties would 10 be negatively influenced by the Buckhorn Village developmenfiat all: I'd be glad to take any 11 questions. 12 13 Bill Hutchins: At this time I'd like to call Jim Parker of Southern Engineering, who is going to 14 provide some testimony as to how the developer has addressed some of the concerns raised in 15 our last hearing. 16 17 Jim Parker: I have been sworn. Just .briefly, we received from the Planning staff after the 18 public hearing in February a list of questions from the public that was brought up here and some 19 questions that were generated from some committee meetings -the EDC and a few other 20 committee meetings within the County and within this area -and we have responded to those, 21 and I'd like to submit these as evidence. The staff already has copies of this, but this is just an 22 official submittal. 23 24 Chair Jacobs: To the staff, could we get a copy of the same list of questions and concerns? 25 26 PUBLIC COMMENT: 27 Charles Bowman: I have been sworn. I have lived in the Buckhorn community all of my life. I 28 own 33 acres right beside Petro, I've lived there for 38 years, and I've wondered when this was 29 going to happen. l'm looking forward to it happening, and 1 hope the Commissioners take it into 30 consideration to pass it because we have nothing on that end of the County; everything is in 31 Hillsborough towards the other end of the County, and we need something down on our end. It 32 may not be the best thing in the world to happen, but at least it's a start. 33 34 Adam Klein: I have been sworn. I am the Director of Government Relations and Economic 35 Development for the Chapel Hill-Carrboro Chamber of Commerce, and I wanted to talk a little bit 36 about Buckhorn Village and sort of the process that the Chamber is going through to review this 37 project. In February and March, the Chamber's Board of.Directors and Government .Relations 38 Committee reviewed the plan for the proposed Buckhorn Village and both voted unanimously to 39 support the project. There are three key, I would say, aspects of this project that both the board 40 and the committee particularly would like to bring up tonight. First, is that this project is locating 41 in along-identified economic development district. This is land that has been set aside 42 specifically for this purpose. There is now a project that's been brought forward that's exactly 43 what this zoning is designed for. Second, is the amount of tax revenue that would be generated 44 by Buckhorn Village. In the winter, the Chamber contracted with a UNC graduate student to 45 basically analyze the economic impact of Buckhorn Village and found pretty strong results. If 46 you look at the sales tax revenue from the construction phase to the first year of operation, we 47 estimate that this project will'generate somewhere around $6.5 million of taxes for Orange 48 County. That number factors out the amount of tax that would go to the State and to other 49 counties. In addition to that, we estimate that 1,700 jobs would be created for Orange County 50 residents, 2,500 jobs in all. When you consider those numbers in light of the budget situation 51 right now, that is much needed revenue with the long-term liability of this County. The third p~