Orange County NC Website
--- Attachment- B- is- a-summary- of the - effect on the original <br /> owners of Holly Creek. Farm Subdivision if they had chosen to <br /> subdivide the land into 2 acre lots instead of 5 acre lots. The <br /> number of 2 acre lots was based on the number of potential perk <br /> sites on the land, and the additional costs are from estimates by <br /> contractors involved in providing the services. The net effect <br /> is that the owners could have realized an additional 59 , 400 <br /> dollars of profit over what they can expect to realize by <br /> subdividing the land into 5 acre lots. In addition the real <br /> estate agents in the community have lost $21, 000 dollars in <br /> commissions, the paving contractors have lost $125,000 dollars in <br /> revenues and the surveyors have lost $14 , 600 dollars. Also the <br /> builders of our community and their employees have lost the <br /> chance to build 11 additional houses with a unknown loss of <br /> potential income. All this is to show that as the minimum size <br /> of a lot is increased not only do the owners of the land lose <br /> potential income but many of the other people in our community <br /> loose and ultimately because these people have less money to <br /> spend in our county the county looses potential taxes. Because <br /> of theses losses a possible compensation could be that OWASA <br /> could issue bonds to at least pay the property owners for their <br /> losses and both the county and the towns could work on providing <br /> additional building opportunities so the total number of building <br /> sites in the area is not reduced. <br /> 2 <br />