Minutes-06-06-2023-Business Meeting Con'd

Browse Search

4 Triangle Logistics Park" (RTLP) project to develop property in the Hillsborough EDD that would be served by the public water and sewer extensions very similar to those originally proposed by the County. The approval allows for up to 2.4 million square feet of light industrial development to occur on the RTLP site, shown in red outline on the map above. The developer (Terra Equity, Inc.) has coordinated with County staff, Town of Hillsborough staff, and applicable State and Federal agencies to reacquire all regulatory permits specific to the offsite public water and sewer infrastructure within the Hillsborough EDD that would be required to adequately serve the proposed RTLP development. On March 13, 2023, the Town of Hillsborough Board of Commissioners approved a Water/Sewer Extension Contract with the developer, allocating 108,000 gallons per day of public water/sewer capacity. The Water/Sewer Extension Contract has now been signed by both the Town and the developer. As currently designed, the offsite public utility project is located within public rights-of-way and/or recorded public utility easements and includes approximately: • 4,150 linear feet of 12-inch diameter water main, • 3,520 linear feet of 8-inch diameter water main, • 1,520 linear feet of 12-inch gravity sewer main, and • 1,190 linear feet of 8-inch gravity sewer main. The proposed public water lines will help improve public water service to the project vicinity by providing a "looping" of the existing public water mains from Old NC 86 to New Grady Brown School Road. The proposed water line loop will allow for: • Redundancy in the event of an isolated water main break/repair, • Improved residual chlorine content for better long-term water disinfection, • Improved available water pressure and volume, and • Better fire suppression needs for the local area. The proposed public gravity sewer mains will extend the existing public sewer system from the north side of 1-40 to the south side of 1-40 via a proposed bore and jack underneath 1-40. Terra Equity, Inc. will serve as the project owner and project manager for the installation of the offsite public water and sewer extensions associated with the RTLP development. Economic Development Approach: Local and state governments in North Carolina have the goal to promote economic development by encouraging the location of new businesses and the expansion of existing businesses. This activity serves to diversify the local tax base, increase employment opportunities and introduce desired job skills and related benefits to a community, and for the benefit of its residents. The Local Government Act, North Carolina General Statute (NCGS) 158-7.1, outlines the requirements of public hearings, and NCGS 158-7.1(a) specifically addresses the requirement that economic development appropriations "must be determined by the governing body of the city or county to increase the population, taxable property, agriculture industries, employment, industrial output, or business prospects of the city or county". The proposed public hearing as presented here has been scheduled in compliance. The proposed Performance Agreement between the County and Terra Equity, Inc. outlines the offsite public sewer and water infrastructure project in two phases, as follows. Phase 1 — This phase includes the public water and sewer main extensions that are required to reach and serve the proposed RTLP development. The County will reimburse Terra Equity, Inc. fifty percent (50%) of actual costs incurred for Phase 1, up to $2.2 million, assuming a total cost