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Agenda - 12-05-94 - VIII-I
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Agenda - 12-05-94 - VIII-I
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11/9/2016 11:30:49 AM
Creation date
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BOCC
Date
12/5/1994
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
VIII-I
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29 <br /> Date: November 8, 1994 HAND DELIVERED <br /> To : Orange County Planing Department <br /> 306F Revere Road <br /> Hillsborough, NC 27278 <br /> Attn: Mr. Eddie Kirk <br /> Subject: Impact Statement - Phase I Section C - FOX HILL FARM <br /> Dear Eddie, <br /> This letter is written in an effort to respond to your recent requests <br /> concerning the Impact of the proposed 39 lot subdivision of Phase I <br /> Section C of Fox Hill Farm. <br /> We anticipate that this will be sufficient infoLluation to answer your <br /> questions as it pertains to the Orange County Subdivision Ordinance <br /> 1) The likely value of the homes when complete on the proposed 39 <br /> lots of Phase I Section C will typically range in value between <br /> approximately $200 , 000 to $300 , 000 . <br /> This range of values are based on our extensive covenants <br /> which all future owners will be required to abide by when <br /> constructing their new homes. These construction standards <br /> coupled with the lot values establish this likely value range. <br /> The lower value range is likely to be achieved only for those <br /> properties which construct homes which meet the absolute minimum <br /> standards set by our Design Review Committee. <br /> 2) The anticipated absorption rate of the 39 lots in Phase I <br /> Section C will be based on approximately all 10 lots within <br /> phasing section C-1 sold and approximately 4 lots within <br /> phasing section C-2 sold in the first year, and the remaining <br /> approximately 4 lots within phasing section C-2 sold and all of <br /> phasing section C-3 sold in the second year. The remaining lots <br /> in phasing section C-4 will likely be sold during the third year <br /> (therefore, 1 . 25 lots sold each month, after all improvements to <br /> Section C are complete) . Therefore, within 3 years Phase I <br /> Section C will likely be absorbed by the Market. <br /> If you have any additional questions please give me a call 932-9908, I <br /> will be glad to supply additional information to you or others within <br /> the Planning department as necessary. <br /> Thank you for your assistance with these matters . <br /> Sinc rely yours, <br /> Vic Knight <br />
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