5-a - Zoning Atlas Amendment - Conditional Zoning – Master Plan Development Conditional Zoning District (MPD-CZ) Settlers Point

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20 Michael Harvey said that is per the Town of Hillsborough-Orange County joint planning land use plan. Commissioner Jacobs asked Jim Parker if there was ever any consideration made to have this area contain residential units above the commercial units. Jim Parker said they are not opposed to this, but it would be determined by what the market would bare. He said the commercial area in District II is likely to be an interstate transportation market, catering to those who are passing through rather than residents of Hillsborough. Commissioner Jacobs asked if it is viable to ask the Developer to separate the two districts, and proceed with the western district first because it is less complicated. Jim Parker said that is not what they would like, and they believe that both districts go hand-in-hand. He said the light industrial and employment centers, which may go in District I, are going to want to see something adjacent to them in the way of services, food, hotels, etc. Jim Parker referred to the traffic improvements, and said there are a lot of lights along that section, but two of the lights were a part of the TIA that was prepared for Waterstone, and that requirement got left out. He said those signals are being put in to do the right thing. He said most of the trips in the traffic are generated by District I. He said the proximity of the service road to the ramps is not good. Commissioner Jacobs said DOT only recommends a stop sign for the service road, which he finds preposterous. Jim Parker said one would not be able to turn left out. Commissioner McKee referred to oil and water contaminants on this property, and said Orange County requirements exceed the State’s requirements much of the time. Michael Harvey agreed. Commissioner McKee asked if the number of buildable acres in this project is known. Jim Parker said 30% open space is required, so about 65-70% of 190 acres is buildable, including roads, buildings, etc. Commissioner McKee said one of the proposed uses was light manufacturing, and asked if the Morinaga candy factory is considered to be light manufacturing. Steve Brantley, Economic Development Director, said yes. Commissioner McKee asked if it is known on how many acres Morinaga sits. Steve Brantley said the company purchased a 21-acre site, and built on one third of the property. Commissioner McKee asked if the number of employees at Morinaga is known. Steve Brantley said approximately 100 full time employees with benefits, and salaries well above the living wage and beyond. Commissioner McKee said while the exact tenants for this project are not known, it can be expected that jobs will be created by this proposed project. Steve Brantley said yes. He said the asking price for this property is quite high, but not as high as the remaining properties at the Waterstone development. He said the Waterstone properties are priced at $250,000 per acre, and there is no industry that will pay this price. He said the probable asking price for Settlers’ Point would indicate that the type of buyer would be a higher caliber business. Commissioner McKee said a more focused enterprise would be attracted to this property. Steve Brantley said the Waterstone development has set a tone with its tenants, signage and landscaping, and the development and asking price at Settlers’ Point would indicate a continuation of this higher caliber tone. Commissioner McKee said the BOCC is committed to attracting lower impact businesses that do not require excessive amounts of water, and are in line with Orange County values. He said Orange County has one of the highest tax rates in the state, and it is unclear how much this project will generate in taxes; but if it could generate $4 million, that is 2% of the County’s budget. He said that is a significant shift in the industrial-residential tax base. He asked if the County is still at 20% on its business tax base. 51