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:- - 7 <br />415 Clayton Rd. <br />Chapel Hill,N.C. <br />February 11,1991 <br />Mr. Marvin Collins <br />Orange County Planning Director <br />Hillsborough,N.C. 27278 <br />Re: Cornwallis Hills <br />Dear Marvin: <br />I would appreciate your assistance in approaching the Orange <br />County Planning Board for an- amendment to the Phasing Schedule <br />for the Cornwallis Hills development. <br />As you,and they,know,Cornwallis Hills has been in development <br />for several years. Phases I,II,IIIA and IIIB have been finished <br />and over 60 homes have been built and occupied in the development. <br />In our last Phase(IIIB) we sold 9 of the 24 lots immediately after <br />completing the improvements. During this past year,.due to the very <br />bad economic situation,we sold only one lot.Therefore,together with <br />some unsold lots in Phases II and IIIA,we have a total of 21unsold <br />lots. <br />Our present Phasing Schedule calls for us to proceed with another <br />Phase by April 4th(if I am correct)and I am reluctant to develop any morE <br />lots until we sell a few more of our unsold lots.Hopefully themarket <br />will improve during this coming selling season and we will be able to <br />justify developing our next Phase. <br />Will you please ask the Planning Board to grant us an extension of <br />one year to enable us to sell some of our already improved lots before <br />developing any additional ones.If you will advise me when this matter <br />will come before the Planning Board, I will arrange to be there toanswer <br />any questions-Thank you for your assistance in t 's matter. <br />Sinc rye <br />L <br />Melvin F. Rashkis,General Partner <br />Old 86 Limited Partnership <br />