Agenda - 04-29-2002 - 3c - Laserfiche WebLink

Browse Search

The Greene Tram owners agree that among the issues to be addressed in the bargaining process are (1) the specific future ur or ranges of use, to be made of the remainder of the Greene Tract (including i of devoting different portions to different uses, devoting portions to public uses sad the .possibility of asking portions available for sale or private use) , and (2) whether to impose specific use estrictions, either through deed restrictions or through governmental regulation. The Greene Tract peers agree that during the "bargaining period" each should provide Opportunity for public comment an possible or proposed uses or dispositions. During the "bargaining period," no Grams Tract owner shall (1) file any legal action or proceeding to force any sale or division of the Greene Tract, o or (2) eater into any agreement to sell, mortgage or otherwise transfer all or any Part Of its OWssrshiP interest in the Greene Tract, in either case without the consent of the other Greene Tract owners. To the extent permitted by law, chapel Hill agrees not to initiate any proceeding to rezone any portion of the Greene Tract during the "bargaining period,' without the ens of the other Greece Tract Owners. Hxecution and delivery'of this Agreement by the Greene Tract owners constitutes consent of Caw Greene Tract Debate for chapel Hill to rezone the Hibit H property )as described in this Part S. Chapel Hill stat xh es its current intent to accommodate any agreed- upon future us cause of u of the r inae: of the Greene Tract in its Development code/ordinances and states its r commendation to future Chapel Hill GOvorning Hoards to the same effect. After the "bangainieg period" is completed, namely, the day after the last day of the bargaining Period, no Greene Tract Owner shall (1) file any legal action or proceeding to force any sale or division of the Greene Tract, or (2) enter into my agreement to sell, mortgage or otherwise transfer all or any part of its ownership interest in the Greene Tract, in either case without giving the other Greene Tract owners at least 60 days- union otice of such filing'o entering into an agreement. In addition, after the -bargaining period' is completed, any Greene Tract Owner may give 60 days' prior notice of an election to be no longer bound by the above restrictions oezcaiGing to the uses of and whether to impose use estrictions on the remairder of the Greene Tract, and such election ahall be effective at the and of the notice period. - The Parties agree that any hen System use of any portion of the remainder of the Greene Tract or any disposition of any portion of the of the Greene Tract Shall result Sn payment Co the County of theaReimbursement carnanc far deposit in the System enterprise fund. 6. The County will finance c ®mity benefits from System funds to the extent legally Permissible. The Parties w'_11 cooperate to provide public benefits to the unity of r eidents and property owners m the neighborhood of the as sting landfill. 9