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7 <br /> Community Design Commission. This is a step in the process that typically occurs during Zoning <br /> Compliance Permit review by the town. We intend to submit our formal Zoning Compliance <br /> Permit application in February. <br /> A great deal of time and expense has gone into our proposal. We were not aware of significant <br /> school impact fee changes. We estimate that the additional $1.2 million required of us based on <br /> the increased school impact fees will damage our project and result in our inability to move <br /> forward. Please refer to the attachment identifying the cost associated with the increase in the <br /> school impact fee. <br /> Failure of our project to move forward will result in an estimated property tax base loss of at <br /> least $625,000+ each year to the county. <br /> We reflect a unique situation: Long time college-student rental housing that has received a <br /> Special Use Permit and Special Use Permit Modification, 2 Minor Changes, detailed Building <br /> Elevation and Lighting Plan Approvals, and Certificates of Adequacy of Public Schools,just <br /> weeks away from submitting our Zoning Compliance Permit application. <br /> We respectfully request consideration of a minor adjustment to the resolution regarding <br /> grandfathering of projects for school impact fee collection purposes. If it would be helpful to <br /> discuss any of this information, please contact me at apsegar @townhouseunc.com or 919-942- <br /> 2163. I appreciate your consideration of this request. <br /> Attachment <br /> cc (via email): Wayne Hadler, Esquire <br /> John Roberts, Esquire <br /> Philip Post, PE, PLE <br /> Bonnie Hammersley, Orange County Manager <br /> Craig Benedict, Orange County Planning Director <br /> Perdita Holtz, Orange County Planner III <br /> 3 <br />