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‹N' <br /> fie)" <br /> iment_emb. IWO AIIIMMINSe. IMION/Nes. <br /> • <br /> z - 1111111111111■1111111111111111111=111 41111111•111111111, 41111111111111.1111A 1111111 <br /> INN NMI 71111111111111111~ IOW 'IMPS NNW INN <br /> - 1111111111kmag 111111•11111111111r111111? (1 - <br /> • • *MI SUMOMMOMMWM MEM 100/11111WIIIIIIIIi <br /> NM Mil /NW/111111111. /04,11111111 111110 <br /> INN IBS 11111111111111 11111•111~ ‘111111MININII NISI MIMI <br /> MN NINO 011101111111 '111.0111•'" .41011161.' mow was <br /> • CAROLINA CORPORATION Reply to: <br /> D 2101 West S.R. 434 <br /> _ <br /> Suite 100 <br /> Longwood, Florida 32779 <br /> (305) 774-8222 <br /> March 24, 1989 0 985 Bethel Road <br /> Columbus, Ohio 43214 <br /> 614) 4578O00 <br /> • Ign 8307 University Executive Park Drive <br /> Suite 270 <br /> Charlotte, North Carolina 28213 , <br /> Mr. Fred Cates, Mayor - (704)547_-0440 <br /> Town of Hillsborough <br /> P. 0. Box 429 <br /> - Hillsborough, North Carolina 27278 <br /> Dear Mr. Cates: <br /> We have recently heard rumors of a new impact tax being proposed for the <br /> Hillsborough area. Being a developer, and property owner in Hillsborough, we <br /> - are obviously concerned. <br /> We have paid or are scheduled to pay over $31,000.00 in•capital facilities <br /> fees for our development currently_under construction in Hi 11 sborough. A <br /> $1.00 per square foot impact fee, as is currently being discussed, in addition <br /> to the• present development constraints, would have absolutely prohibited us <br /> from undertaking our current project. <br /> As you know, Hillsborough and Chapel Hill are markedly different communities. <br /> Such an impact tax might be acceptable in certain areas of Chapel Hill, but <br /> it would definitely have an adverse impact on the Hillsborough area. We have <br /> hopes of developing other projects in and around the Hillsborough area in <br /> the future. The projects would have to be looked at in a new light should <br /> such an impact fee be in place. Now that our center is taking shape and you <br /> • - - - can get 'a gl-impse of what the final product will look like, I hope you are <br /> plOased. We certainly appreciate your cooperation and efforts that will make <br /> it .a reality. _ <br /> Sincerely, • <br /> • . 4411.1741.1.41111V dfly <br /> Joe Looney <br /> President <br /> Tricor Carolina Corporation <br /> JL:je <br />