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5 <br /> Trish McGuire pulled up a map of the northern part of Carrboro's jurisdiction. She said <br /> there is a small area planning document that applies to this area. She described the <br /> surrounding area and land use plan. <br /> Commissioner Jacobs asked if the relationship between Transition areas 1 and 2 could <br /> be explained. <br /> Trish McGuire said the rezoning of area 2 is not to occur until transition area 1 has <br /> reached 75% build out, per a number of criteria, which are spelled out in the plan. <br /> Commissioner Jacobs asked if Trish McGuire could identify where in that process the <br /> areas currently stand. <br /> Trish McGuire said these calculations are being worked on currently. <br /> Chair McKee said this is an interesting idea, and he likes the focus on local businesses. <br /> He said he does not need specific answers tonight, but he does have some concerns. He <br /> asked if the 90,000 square foot building is the maximum foot print build for this property. <br /> Trish McGuire said that is the maximum for a single level building, with the possibility of <br /> a bit more space through a mezzanine level, or something similar. <br /> Chair McKee said if a commercial site is going to be built here, he would like it to be the <br /> maximum size. <br /> Chair McKee asked if the proposal is to build a shell to rent, which would be outfitted by <br /> the renter to suit their needs; or is the proposal to build out to the maximum level. He said a <br /> building shell would only cost around $100,000, and even with five buildings the total would be <br /> far less than $9 million. <br /> Trish McGuire said the concept was that the development would be done by a private <br /> entity instead of the Town, but she would check on this. <br /> Chair McKee said the land would remain in the ownership of the Town, which would <br /> provide no tax benefit at all. He said the buildings would be a leasehold improvement to the <br /> land, and he read a 30-year term is proposed for the lease. He said he would like to know <br /> what would happen after the 30-year lease. He said he keeps coming back to the revenues, <br /> as they may have to defend the use of economic development monies for this on Highway 86. <br /> He agreed with Commissioner Jacobs about the use of water and sewer, and the development <br /> it may open up. <br /> Commissioner Jacobs agreed with Chair McKee, and that is why he keeps saying to do <br /> a cost analysis of this proposal to determine if this is a wise investment. <br /> Commissioner Jacobs suggested not calling this an industrial park, to make it more <br /> user-friendly for this community. <br /> Commissioner Rich said having a copy of the Northern Transition Area (NTA) plan <br /> would help all of them to understand this area. <br /> Alderman Gist said she went to Boulder, CO several years ago, and while there were <br /> lovely amenities, there was no middle class present. She said Carrboro and the County are <br /> being gentrified in the same way, and this is a chance to provide real living wages and space <br /> for those who make a living with their hands. <br /> Chair McKee said there was still no middle class in Boulder on their recent trip there. <br /> Chair McKee said the County's zoning regulations have a great, but limiting, benefit. <br /> Alderman Chaney said she is not opposed to the cost benefit analysis, but she is <br /> opposed to doing it based only on current assumptions. She said it is useful in understanding <br /> potential dynamics, and in creating a plan, but may cause potential benefits of the project to be <br /> missed if such an analysis were to be weighed too heavily. She said it is a tool, but not an up <br /> or down decision-making tool. <br /> b) NC Highway 54 West— Commercial Potential and Challenges <br />