Agenda - 01-22-2015 - 6a - Laserfiche WebLink

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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 11 interest in additional facilities in the Elliot Road extension in order to create a loop system. Chair Jacobs said he has heard requests for more information on the following items: - Targeting for the rental housing - Economic Development analysis - Further analysis of the storm water management planning Chair Jacobs said to Bonnie Hammersley that the County has had this information since April, and the Board is disappointed in the lack of a thorough presentation from staff tonight. He hopes that this will be available in January. Maria Palmer thanked Steve Brantley for mentioning the word partnership. She said where Orange County goes, Chapel Hill goes and vice versa. She said Commissioner Dorosin mentioned that this is coming to the County a little late; however, she said none of this would be happening without form based code, and that was not a sure thing. She said the cost of doing nothing is a lost opportunity for both the County and the town. She said the County is bleeding people and the hole needs to be fixed. She said a $2 million piece of land has been put into affordable housing, and many residents have been waiting for years to live in decent housing. She said this is an exciting investment, and Chapel Hill believes in this project. Mayor Kleinschmidt said right now this district is failing economically. He said there are bright spots, but there are also failing strip malls, abandoned car dealerships, and roads that make no sense. He said took this project to a mayors conference in 2010, and that is when this began. He said there was a struggle to develop a vision and a small area plan, but nothing happened. He said two special use permits (SUP) for the vacant lot on Elliot Road, but it is still vacant. He said there is no infrastructure in place to support the economic development. He said analysis has shown that if you provide infrastructure, economic development will follow. Mayor Kleinschmidt said Rams Plaza has not filled space because no one can tell their customers how to get there, and developers cannot afford to make the necessary road changes and improvements. He said this is why the town began discussing ways to provide these improvements. He said storm water improvements are also necessary because there are no developers to make this happen. Mayor Kleinschmidt said two months after the re- zoning was approved, the first project came in, and it will provide tens of millions of dollars of investment. He said now that one project is on board others are following. He said the revenue is going to come to the County and the town; and in the worst case, if it does not create revenue, the County will not have to participate. He said long ago the town developed a debt management fund that produces more money than is owed in debt, and this is the plan B that Commissioner Price asked about. Mayor Kleinschmidt said there are some myths out there that he would like to take off of the table. He said this district is going to have the highest standards for storm water in the state, because the code requires it. He said the flooding issues are being addressed. He said staff has pulled back and looked at the entire storm water basin. He said investments are being made in the whole upstream to manage the water as it comes downhill. Mayor Kleinschmidt said there is an unmatched commitment to affordable housing in this district, and 300 of the 1400 units will be affordable housing. He said an incentive program is also being created for private developers to provide affordable housing. Mayor Kleinschmidt said the County and the towns are in a new place when it comes to economic development, and all of the government entities are working together to share the goals of the economic development. He said this tide has the potential to raise their boats pretty high.