NC - Indian Trail: Regular Meeting

Get alerted when your passions are being discussed in Indian Trail, Mecklenburg County, Union and more for free

Issues discussed this meeting include:

Get Alerts On New Meetings
Sign Up
When and Where is the Next Meeting?
[ See More ]

Regular Meeting

Indian Trail Town Council

Tagged Passions:council and trails

DEVELOPMENT WORKSHOP AGENDA 5:30 P.M.

Tagged Passions:development and Development

1.
DISCUSSION - NONE

REGULAR COUNCIL MEETING AGENDA 6:30 P.M.

1.
CALL MEETING TO ORDER / PLEDGE OF ALLEGIANCE / MOMENT OF SILENCE

No additional detail provided

2.
AGENDA ADDITIONS DELETIONS

No additional detail provided

3.
MOTION TO APPROVE AGENDA

No additional detail provided

4.
PRESENTATIONS a. Agency Donation Request Common Heart (Keith Adams) (3 Min.) b. Constitution Week Proclamation (Mayor Alvarez) c. New Employee Introduction (Mr. Kramer) (2 Min.)

No additional detail provided

Tagged Passions:recognition, donation, and Donation

5.
PUBLIC COMMENTS a. Public Comments (General Public) b. Council Feedback to Public Comments (Council)

No additional detail provided

Tagged Passions:council

6.
LAW ENFORCEMENT UPDATE a. Captain s Comments (Captain Coble)

No additional detail provided

Tagged Passions:public safety

7.
CONSENT AGENDA - action a. Approve September 10, 2019 Regular and Developer Meeting Minutes b. Approve Annual Sanitation Fee Increase for the Town (per CPI) - Effective August 2019 c. Adopt Resolution R190924-01 for the Issuance 2.5M GO Park Rec Bond, Series 2019 d. Adopt Resolution R190924-02 Annex. 154-Oak Springs - Request for Public Hearing on 10/8/19

No additional detail provided

Tagged Passions:bond, solid waste, parks, hearing, and annexation

8.
PUBLIC HEARING - None

TOWN COUNCIL Shirley Howe Mike Head Jerry Morse Marcus McIntyre TOWN CLERK Kathy Queen MAYOR Michael L Alvarez MAYOR PRO TEM

Tagged Passions:council and hearing

David L. Cohn

TOWN MANAGER Patrick Sadek, P.E. 9-24-19 Agenda Packet Pg. 1

Tagged Passions:manager

9.
OLD BUSINESS a. Chestnut Parkway - Phase II III (5 Min.)(Mr. Huntsinger) - info b. Chestnut Parkway Artificial Turf Construction Update:

No additional detail provided

Tagged Passions:construction and business

Ribbon Cutting / Change Order (2 Min.)( (Mr. Sadek) - info

No additional detail provided

c.
Committee Meeting Liaison Update (Council)

No additional detail provided

Tagged Passions:council

10.
NEW BUSINESS a. Transit Oriented Development Study (5 Min.) (Ms. Deese) - info b. Revenue Update (5 Min.) (Mr. Wojtowicz) - info c. Economic Development Update (5 Min.) (Mr. Evans) - info d. Union County Commission/Town Council Upcoming Meeting (Council/Manager) - info

No additional detail provided

Tagged Passions:business, council, economic development, boards and commissions, development, Development, and manager

11.
DISCUSSION ITEMS

No additional detail provided

12.
MANAGER S UPDATE

No additional detail provided

Tagged Passions:manager

13.
COUNCIL COMMENTS

No additional detail provided

Tagged Passions:council

14.
CLOSED SESSION

No additional detail provided

15.
ADJOURN

9-24-19 Agenda Packet Pg. 2 INDIAN TRAIL PROCLAMATION CONSTITUTION WEEK Adopted 09-24-2019 WHEREAS: The Constitution of the United States of America, the guardian of our liberties, embodies the principles of limited government in a Republic dedicated to rule by law; and WHEREAS: September 17, 2019, marks the two hundred thirty-second anniversary of the

Tagged Passions:recognition and trails

drafting of the Constitution of the United States of America by the Constitutional Convention;

and
Tagged Passions:conventions

WHEREAS: It is fitting and proper to accord official recognition to this magnificent

document and its memorable anniversary, and to the patriotic celebrations which will

Tagged Passions:recognition

commemorate it; and

No additional detail provided

WHEREAS: Public Law 915 guarantees the issuing of a proclamation each year by the

Tagged Passions:recognition

President of the United States of America designating September 17 through 23 as

Constitution Week, NOW, THEREFORE I, Michael L. Alvarez, by virtue of the authority vested in me as Mayor of the Town of Indian Trail do hereby proclaim the week of September 17 through 23, 2019 as CONSTITUTION WEEK and ask our citizens to reaffirm the ideals the Framers of the Constitution had in 1787 by
Tagged Passions:trails

vigilantly protecting the freedoms guaranteed to us through this guardian of our liberties.

IN WITNESS WHEREOF, I have hereunto set my hand and caused the Seal of the Town of

Indian Trail to be affixed this twenty-fourth day of September in the year of our Lord two

thousand nineteen.

Tagged Passions:trails

_________________________________ Attest: Michael L. Alvarez, Mayor

________________________________ Kathy Queen, Town Clerk

9-24-19 Agenda Packet Pg. 3

Town Council 09.10.2019 Regular Meeting Minutes Page 1

TOWN COUNCIL REGULAR MEETING Council Chambers Town Hall September 10, 2019 @ 6:30 p.m.

MINUTES of the REGULAR MEETING

The Indian Trail Town Council held a regular meeting in the Council Chambers located at 315 Matthews-Indian
Tagged Passions:trails

Trail Road, Indian Trail, NC with the following persons in attendance.

Tagged Passions:streets and trails

Present: Mayor Michael Alvarez, Mayor Pro Tem David Cohn, Council Member Shirley Howe, Council Member

Marcus McIntyre, Council Member Mike Head, and Council Member Jerry Morse Absent: Staff: Town Manager Patrick Sadek, P.E, Attorney Kevin Bringewatt, Clerk Kathy Queen
Tagged Passions:council, legal, and manager

1
2 CALL TO ORDER

A quorum was present. Mayor Michael Alvarez called the meeting to order at 6:30 p.m. Captain Coble reminded

attendees to be respectful of one another given differing viewpoints related to the Public Hearing for The Hub.

Tagged Passions:hearing

3
ADOPTION OF THE AGENDA

Council made the following changes to the Agenda:

DELETE Presentation 4b Agency Donation Request Common Heart MOVE Law Enforcement Update - Captain s Comments Move from 6a to 10d
Tagged Passions:council, donation, public safety, and Donation

MOTION was made by Council Member McIntyre to adopt the Agenda as amended and was unanimously

approved.
Tagged Passions:council

4.
PRESENTATIONS

No additional detail provided

a.
New Business Recognition

Mayor Alvarez recognized Stalls Medical, Inc, and Adaptive Vans, Inc., both owned by Derick Johnson and his wife, as being new businesses in Indian Trail, NC. Mr. Johnson was given a small plaque in recognition of these businesses and was also given an opportunity to speak about the businesses.

Tagged Passions:recognition, business, and trails

5.
PUBLIC COMMENTS

No additional detail provided

a.
Public Comments

Mayor Alvarez opened Public Comments and read the statement of conduct that is expected when addressing Town

Town Council 09.10.2019 Regular Meeting Minutes Page 2

Kathy Heintel, resident and UCS Board of Education, spoke regarding growth and high-density housing and the negative impact on the Town s schools. She noted that while she is a member of the Union County School Board, her thoughts and comments are her own and not representative of the Board. She stated she is not advocating no

Tagged Passions:council, education, growth, and housing

growth, but is asking for responsible growth.

Mayor Alvarez closed Public Comments.
Tagged Passions:growth

b.
Council Feedback to Public Comments

No additional detail provided

Tagged Passions:council

Council Member Head noted the meeting was in February, and it was discussed there was an enrollment bubble in the middle school, and that within five years, enrollment will return to normal levels. Ms. Heintel responded

No additional detail provided

Tagged Passions:council, education, and enrollment

this is the situation without the new zoning that is happening. After a recent meeting with a demographer, they

Tagged Passions:zoning

were told the enrollment at Porter Ridge would continue to increase over the next five years because of its closeness

to Mecklenburg County and the By-Pass.
Tagged Passions:enrollment

lead. She did acknowledge the bubble.

No additional detail provided

6.
LAW ENFORCEMENT UPDATES

No additional detail provided

Tagged Passions:public safety

a.
Captain s Comments Captain Coble informed Citizens to keep their valuables out of their cars and to keep cars locked as there has been

a rash of vehicle break-ins recently. He informed Council that there was confusion resulting from additional changes made to the bus routes in the Crismark neighborhood. He noted the Town was not involved in the decision

Tagged Passions:council, Public Transit, and neighborhood

to make those changes. He noted the last of the changeovers for the Independence Blvd. super street was completed

at Indian Trial Road and Fairview; but noted the traffic flow on Highway 74 was interrupted this week due to Vice-
Tagged Passions:streets and traffic

President Pence passing through the area.

No additional detail provided

7.
CONSENT AGENDA

a.
Approve August 13, 2019 Regular and Developer Meeting Minutes b. Approval of Monthly Tax Reports for July and August 2019

No additional detail provided

Tagged Passions:taxes and Taxes

MOTION was made by Mayor Pro Tem Cohn to approve the items for consent under Item 7, Consent Agenda, on

the 9/10/19 Meeting Agenda and was unanimously approved.

8.
PUBLIC HEARINGS

8a1. Zoning Map Amendment 4025 Old Monroe Road ZM2019-0061 (Ord. 190910-319) Tim Jones, Senior Planner, presented a request to rezone approximately 0.68 acres from Neighborhood Business District (NBD) within the Old Monroe Village Center Overlay to Single Family, Low Density Residential (SF 1) within the Old Monroe Village Center Overlay. The intent of this request is to rezone the property to sell the existing home as a residential structure instead of as a commercial structure. The subject property is located on the southwest
Tagged Passions:business, zoning, property, hearing, commercial, and neighborhood

side of Old Monroe Road and west of the intersection at Indian Trail and Old Monroe Road.

The Planning Board at their August 20, 2019 meeting voted 4:0 to recommend rezoning the parcel. The Board 9-24-19 Agenda Packet Pg. 5
Tagged Passions:planning, streets, zoning, trails, and property

Town Council 09.10.2019 Regular Meeting Minutes Page 3

made the following required findings, one for consistency with Town adopted plans and another regarding the

Tagged Passions:council

benefit of the public:

1.
The proposed UDO amendment is consistent with the following goals of the Comprehensive Plan:

Tagged Passions:strategic and UDO

Land Use and Housing Goal 1: The proposed map amendment will help to further this goal by promoting a mix of different types of land uses within the Old Monroe Village Center.

No additional detail provided

Tagged Passions:housing

2.
This rezoning request is reasonable and is in the public interest because it promotes the goals of the

Indian Trail Comprehensive Plan in the areas of Land Use and Housing. It is consistent with the adopted plans within the Town of Indian Trail.

Tagged Passions:strategic, zoning, trails, and housing

Based on the consistency with the Comprehensive Plan, the Planning Board recommended approval of this

request. Staff recommends for approval. Mayor Alvarez opened and closed Public Comments. There were none.
Tagged Passions:planning and strategic

MOTION was made by Council Member McIntyre to approve the Consistency Findings as read into the record by

staff for ZT2019-0061 (Ordinance 190910-318) and was unanimously approved.
Tagged Passions:ordinance and council

MOTION was made by Council Member McIntyre to approve as presented the request for ZT2019-0061

Tagged Passions:council

(Ordinance 190910-318) and was unanimously approved.

8a2. Conditional Zoning The Hub (Apartments/Hotel) CZ2019-0044 (Ord. 190910-318) Brandi Deese, Planning Director, presented a request to conditionally rezone approximately 19.38 acres (Portion of

Tagged Passions:planning, ordinance, hotel, and zoning

Parcels 07105004 and 07105005D) from Regional Business District to Conditional Zoning, Regional Business

District, Mixed Use Development. The intent of this request is to allow 350 rental apartment units at an overall density of approximately 18.06 units/acre and a 105 key hotel. The subject properties are located at the southeast corner of the intersection of Highway 74 and Chestnut Parkway. The original request was amended by the applicant at the recommendation of the Planning Board; the amended application is for 350 apartments and a hotel. The Planning Board s vote to deny the request failed 2:3 rendering no action taken. The Planning Board failed to take action in a timely manner and the request now moves forward to Town Council. Staff is of the opinion the required Consistency Findings can be made, one for consistency with Town adopted plans and another regarding the benefit of the public.

Tagged Passions:planning, business, council, development, hotel, zoning, Development, rental, and property

1.
The proposed UDO amendment is consistent with the following goals of the Comprehensive Plan:

Tagged Passions:strategic and UDO

Quality of Life Goal 1: The proposed request will give the opportunity to establish a unique identity in this area and start to bring the US 74 Corridor Plan to fruition with residential and commercial uses. The provision of these multiple uses will enable the creation of a sense of

place.
Tagged Passions:commercial and corridor

Land Use and Housing Goal 1: The proposed project will promote compatibility of land uses between the residential neighborhood and commercial uses.

No additional detail provided

Tagged Passions:commercial, neighborhood, and housing

Land Use and Housing Goal 5: The proposed request will provide high quality design to ensure attractive land development and redevelopment.

9-24-19 Agenda Packet Pg. 6

Tagged Passions:development, Development, and housing

Town Council 09.10.2019 Regular Meeting Minutes Page 4

Mobility and Transportation Goal 5: The proposed project integrates land use recommendations from the US 74 Corridor Revitalization Study. Economic Development Goal 5: The proposed project combines initiatives with land use and transportation plans by following the Comprehensive Plan s US 74 Corridor Plan section which was incorporated from the multi jurisdictional US 74 Corridor Revitalization Study.

Tagged Passions:council, economic development, strategic, development, transportation, Development, and corridor

2.
This rezoning request is a reasonable request and is in the public interest because it promotes the goals of the

Indian Trail Comprehensive Plan in the areas of Quality of Life, Land Use and Housing, Mobility and Transportation, and Economic Development. During the August 20, 2019 Planning Board meeting, the Planning Board recommended for the developer to reduce the number of units from 650 to 350 and the developer agreed to amend their application as requested. Based on the original application for 650 units, the applicant has agreed to make all requested improvements thus eliminating the need to go back through the Town s review process. The concept/site plan was modified to reflect the changes. Staff recommends approval of this request with the following conditions:

Tagged Passions:planning, economic development, strategic, development, zoning, transportation, trails, Development, and housing

1.
Staff to confirm that Union County Public Works, Environmental Health, Sheriff s Office, and Fire Marshall have made comments and are addressed during site plan review;

No additional detail provided

Tagged Passions:health, public safety, environment, Public Works, and public works

2.
The development shall comply with all other applicable requirements of the Town of Indian Trail

Tagged Passions:development, trails, and Development

Unified Development Ordinance.

No additional detail provided

Tagged Passions:ordinance, development, Development, and UDO

3.
Town approval incorporates and shall comply with any and all submittals in the case file and correspondence presented to the Town Council in support of this application, including, but not limited to the following: the site/sketch plan, architectural elevations or architectural representations, and any other information related to this case or improvements recommended by the Town and/or other agencies.

No additional detail provided

Tagged Passions:council

4.
The US Postal Service has notified the Town that all future subdivision approvals must utilize a

Tagged Passions:subdivision

community mail delivery system (cluster mailboxes). Locations and details of the proposed community

mailboxes must be included in the Construction Documents, and must be reviewed and approved by the Postmaster for this area. The applicant(s) must provide the Town with written confirmation that the local Postmaster agrees with the proposed box locations. 5. Trash enclosures must comply with the Town of Indian Trail Unified Development Ordinance. 6. Reduction of the Minimum lot area per unit (3,350 square feet) for apartments to 1,612 square feet.

Tagged Passions:ordinance, construction, development, trails, Development, and UDO

7.
The 4 story buildings shown on the concept plan should remain as 4 story and not be reduced.

8.
Building maximum height is to be 70 feet.

9. The applicant must provide 1.5 parking spaces per dwelling unit. Parking for the apartments must be

Tagged Passions:parking

contained in the parcel and half of the proposed parking along Nelson Lemmond Drive. No apartment

parking allowed on Chestnut Parkway.

Tagged Passions:property and parking

10.
Applicant will reconstruct Nelson Lemmond Drive to accommodate a two lane road with eighty seven 60

No additional detail provided

Tagged Passions:streets

degree parking spots along both sides of the road as shown on plan sheet RZ 3.0 Overall Site Plan. 11. Architecture should remain the same as submitted in the concept plan (modern/flat roofs).

12. Landscaping facing Independence in the flood plain area should be present as indicated in the concept plan presented at the development workshop before Town Council on May 14, 2019.
Tagged Passions:council, streets, development, flooding, Development, and parking

13.
The main entrance to the project should be on Independence and should serve both the hotel and the

apartments.
Tagged Passions:hotel

14.
Grade for Phase I and any water/sewer needs only. Do not grade for Phase II during Phase I grading.

No additional detail provided

Tagged Passions:sewer, utility, Utility, water, and grading

15.
Three bedroom apartments are restricted to 5 of total number of apartments constructed. 16. Amenities include 1 clubhouse, 1 pool, dog park, and walking trails.

Mayor Pro Tem Cohn clarified that Council is not voting to approve 650 apartments, only 350; Ms. Deese affirmed. Ms. Deese noted the applicant is exceeding expectations meeting requirements for 650 units while only asking for

Tagged Passions:council, voting, pets, parks, and trails

approval for the 350 units. Mayor Pro Tem Cohn also clarified that the additional 300 units cannot move forward

9-24-19 Agenda Packet Pg. 7

Town Council 09.10.2019 Regular Meeting Minutes Page 5

without first coming back to Council for a separate approval; Ms. Deese affirmed. The adjacent parcel is not being rezoned and will remain Regional Business District which prevents additional units from being built without first

Tagged Passions:business, council, zoning, and property

going thru the Town s full approval process.

Mayor Alvarez opened Public Comments. Residents who spoke in favor of the project are as follows: Maureen Mulhall, Steven Helms, Kaye Lemmond, Leah Morency, Garrett Ross, and Cam Helms. Mayor Alvarez recognized e-mails received from local business owners and Wingate University in favor of the Project: Toni Carroll Anita Bowls, Tanha Patel, Brian Rogers, Monica Czibere, and Scott Hunsucker
Tagged Passions:recognition, business, and university

(Wingate University on behalf of Graduate Students). Mayor Alvarez also noted a petition holding 18 signatures (5 of

the 18 were present to speak.) Residents who spoke in opposition of the project are as follow: Jim Cherry, Tripp Cherry, Trigg Cherry, Kelly Gilbert, Cindy Windham, Traci Cockerham, Matt Harmon, Amanda Faulkenberry, Donna-Rushing Hosaflook, and Russell Hosaflook. E-mails received by the Mayor who oppose: 4 Mayor Alvarez closed Public Comments.
Tagged Passions:university and students

Mayor Alvarez called for a five-minute break in order to retrieve The Moser Group s presentation.

No additional detail provided

Mackenzie Moser, The Moser Group, gave a brief overview of the project. She noted the site is a difficult site to

work with given the wetlands, but noted The Moser Group is bringing a creative approach/solution in the largest

contiguous parcel. The Hub concept meets the current goals of the Town and supports future professionals,

entrepreneurs and millennials. The land-use mix includes a hotel with 95-110 rooms, a first for Indian Trail, and a multi-family component consisting of 350 rental units in 3-story buildings along with a club house and amenities. This project offers a walkable front door to the Town of Indian Trail and creates a true live, work, play environment
Tagged Passions:hotel, Conservation, environment, trails, rental, and property

adjacent to the Town s new Town Hall and within the planned sports arena within Downtown Indian Trail. The site will have protected right and left turns on Chestnut Parkway. The Moser Group is also providing, aside from

The Hub project, 87 new parking spaces which is an approximate 900,000 contribution to the Town. Ms. Moser reviewed the site plan with Council. The hotel will serve the newly planned sports facility with travelers coming in for tournaments as well as general travelers passing through Indian Trail. Greystar is the multi-family partner. Mayor Alverez asked if Council had any questions; there were none. Mayor Alvarez asked how The Moser Group
Tagged Passions:council, facility, hotel, downtown, trails, sports, and parking

can ensure the rent will remain at its current rate and also keep the area safe. Josh Glover, Director of Development,

Graystar Property Management Co., responded that Graystar is a property management company that manages 500,000 units across the United States. They are experienced in Multi-Family Management and as such make
Tagged Passions:development, Development, and property

concerted efforts to review demographics to determine target markets. As part of their business plan, Greystar is

proactive in setting money aside for capital upgrades and has staff/teams to meet ongoing maintenance needs as properties age. In response to Council Member Morse, Greystar manages just over 15,000 units in the Charlotte area and approximately 500,000 managed units across the United States with the average occupancy rate around 94-95 . They do not have any Section 8 properties. Mayor Pro Tem Cohn commented in response to Mayor Alvarez question by stating there are no guarantees as to the success of any development. The only gauge is the previous record. Mayor Alvarez clarified he was inquiring about their record. In response to Council Member Morse, they have managed one property, Copus One, in Indian Trail since 2016 as well as a number of communities in Matthews. Council Member Morse noted that Copus One was also a tribute to Mr. Glenn (Indian Trail resident), but was sold shortly after it was completed. He asked Mayor Alvarez about a problem with one of the apartments

Tagged Passions:business, council, market, grocery, development, trails, Development, property, and housing

in Town, and Mayor Alvarez noted it was a problem with one apartment having mold. Mr. Glover noted the problem

No additional detail provided

was more the result of a lack of communication and training on the part of the property s resident manager; Steps have been take to improve the situation.

9-24-19 Agenda Packet Pg. 8
Tagged Passions:training, communications, property, manager, and Communications

Town Council 09.10.2019 Regular Meeting Minutes Page 6

No additional detail provided

Tagged Passions:council

Council Member McIntyre affirmed that the only change is in the number of apartment; Ms. Moser affirmed. He

No additional detail provided

Tagged Passions:council

asked when the firm would begin construction. Mr. Glover stated the intent is to begin as soon as possible,

potentially breaking ground in April or May 2020 for both the Hotel and Multi-family units. Ms. Moser stated The Moser Group is invested in the Town. The Moser Group has been in the Town for 25 years, and they would not do anything that would not leave Indian Trail a better place to live. Mayor Alvarez affirmed that a light was be installed on Hwy 74 by NCDOT. He asked if impacts on the traffic become unexpected that The Moser Group would be willing to partner in making road improvement; Ms. Moser stated absolutely and noted they are well aware of the traffic issue within the Town, and they will adjust traffic flow and work with NCDOT regarding traffic concerns. Mayor Alvarez noted it was no secret he was confused about the project layout, but understands the need for millennial housing and wants to have as little impact on the Town as possible.
Tagged Passions:construction, streets, hotel, trails, traffic, and housing

entrance via the right-turn lane. South-bound will have three lanes with one lane being dedicated as a right turn for

Chestnut Parkway. From Chestnut, left and right turns can be made; no left turn onto Chestnut from Hwy. 74 will be possible. Council Member McIntyre asked Ms. Reid to point out the location of the turn lanes. Mayor Pro Tem Cohn reviewed and responded to some of the concerns made by individuals during public comments. He also stated he received 27 e-mails from business owners supporting the project and noted this project
Tagged Passions:business and council

will bring people into their businesses. Mayor Pro Tem Cohn took several minutes to express how difficult it was

to come to the decision but stated he did what he feels is right for the Town.
Tagged Passions:business

Council Member McIntyre noted that the original request was for 650 apartments and asked if the record could be

No additional detail provided

Tagged Passions:council

changed/corrected. Brandi Deese, Planning Director, clarified those records were from the original Planning Board

meeting and advised that the records should reflect what was originally viewed by the Planning Board.
Tagged Passions:planning

are specific to this project. Ms. Deese read the conditions outlined in the Conditional Zoning Ordinance.

(Conditions 1-16 are listed on Pg. 4.) During the reading, Ms. Deese commented on Condition 2 stating anything

Tagged Passions:ordinance and zoning

not spelled out within the Conditions is governed by the UDO. Council Member Morse asked who decided that

No additional detail provided

Tagged Passions:council and UDO

1.5 spaces per unit would be adequate. He expressed concerns that in the future, the developer will request another

300 units on the adjacent property and justification will be that there are already apartments in this location, and it 9-24-19 Agenda Packet Pg. 9
Tagged Passions:property

Town Council 09.10.2019 Regular Meeting Minutes Page 7

No additional detail provided

Tagged Passions:council

will seem to be a good fit. He stated potentially there will be 650 apartments with inadequate parking. Then, he

No additional detail provided

Tagged Passions:parking

heard that the Town might have to invest in a parking deck. He stated they are giving away the farm. He stated it

feels like at the eleventh hour and the Town is being forced into a situation because the Town is concerned it won t get that hotel. He was very supportive of the project when they were discussing 250-300 units on the property and the hotel. It is a nice, shiny project but it does impact our schools. There is a by-right for the hotel. If the project is approved, it will have 18 units per acre. It will be the highest density ever approved in Indian Trail, and it is not
Tagged Passions:agriculture, hotel, trails, property, education, and parking

technically in the downtown area that was mapped out in 2006. This is why he brought up the comprehensive plan

and UDO because the Council needs to address this before they ramrod this project. The project doesn t have to be approved tonight. Council can recommend for the developer to redevelop the site a little and maybe leave some
Tagged Passions:council, strategic, downtown, and UDO

trees between the park and the edge of the site. And then, when there are 650 apartments and 450 seats sitting

around that stadium, there will not be a lot of people, other than those in the apartment complex, that will fit in there, and they will be able to walk over there. Another item he noted that was on his mind, the light rail. The study will not be done for 6-7 years. The MTC doesn t want to place terminuses within a mile of each other; We are 1.2 miles from the one that may be proposed in Stallings. He noted multiple changes from the project from the

Tagged Passions:transportation, parks, trees, and stadium

beginning. He stated if the developer wants his support, they could reduce the number of apartments from 350 to

No additional detail provided

175. Then, when they come back on the other side to do another 175, he would vote for that tomorrow. He noted

this Council will have to live with the legacy of putting the highest density ever in Indian Trail. He does believe in

Tagged Passions:council and trails

property rights. However, when rezoning, there is a responsibility to ensure the change doesn t negatively impact surrounding neighbors. He noted there are already numerous apartments in the pipeline. He feels he is a lone

voice, but stated it needs to be said. Technically, he stated this is on the very fringe of the Downtown Plan. The Downtown Plan was talking about Indian Trail Road. In his opinion, the quantity is in the wrong location. If the

Tagged Passions:streets, zoning, downtown, trails, and property

Town reduces the density there, he would support the project. He asked why Council didn t ask for more parking and why they are accepting the minimum standard. He suggested discussing further in an effort to create a very

Tagged Passions:council and parking

good project that would have the full support of the Council. Currently, he stated he could not support the project.

Tagged Passions:council

He hoped thru his comments that he might persuade at least two council members to not support the project as well.

Mayor Pro Tem Cohn commented that each Council Member spoke with Council Member Morse at some point and they all thought he was in support of 350 units. Mayor Pro Tem Cohn stated he is shocked at these comments, and he would have brought all this up long before the last comment of the night. Council Member Morse responded that up until the meeting he had with Town Manager Sadek on Saturday, he was under the impression that the 350
Tagged Passions:council and manager

planned apartments were for the total property, not half of the property. Once he realized this, he was no longer

supportive. Mayor Pro Tem Cohn stated that he and fellow Council Members do not and will not support 650 units and have stated this to the developer. He stated Council Member Morse was wrong to assume that another 300 units would be built in the future. Council Member Morse responded by stating that if the Town doesn t want 650 apartments there, then don t put it in the hands of a future Council that eventually places 650 apartments there. Settle it now, postpone this and make it 350 for the whole site and walk away. Mayor Pro Tem Cohn stated the

Tagged Passions:council and property

MOTION was made by Mayor Pro Tem Cohn to approve the Consistency Findings as read into the record by staff

for ZT2019-0061 (Ordinance 190910-318) and passed 4:1 with Council Member Morse opposing.

No additional detail provided

Tagged Passions:ordinance and council

MOTION was made by Mayor Pro Tem Cohn to approve as presented the request for ZT2019-0061 (Ordinance

190910-318) and passed 4:1 with Council Member Morse opposing.
Tagged Passions:ordinance and council

9.
OLD BUSINESS

9-24-19 Agenda Packet Pg. 10

Tagged Passions:business

Town Council 09.10.2019 Regular Meeting Minutes Page 8

No additional detail provided

Tagged Passions:council

10.
NEW BUSINESS

No additional detail provided

Tagged Passions:business

a.
GO Bond Series

No additional detail provided

Tagged Passions:bond

Mr. Wojtowicz informed Council Members the Town has determined to issue 2.5 million in General Obligation

bonds for park improvements to include the artificial turf field at Chestnut Square Park and major improvements at

Tagged Passions:council, bond, and parks

Crooked Creek Park. The Bond Referendum passed in 2012. An RFP was sent to eight banks, and Mr. Wojtowicz

No additional detail provided

Tagged Passions:rfp, RFP, bond, parks, and referendum

recommended to Council that the Town issue the bond to Zion Bank at a rate of 2.12 for 15 years. He noted there

is no prepayment penalty. Town Manager Sadek commented he is comfortable with the recommendation and that it is a good deal. A resolution will be forthcoming from the Bond Attorney at the next meeting.

Tagged Passions:council, legal, bond, manager, and penalty

MOTION was made by Council Member McIntyre to adopt the recommendation to issue General Obligation Bonds, Series 2019, to Zion Bank at a rate of 2.12 for 15 Years, and it was unanimously approved.

Tagged Passions:council and bond

b.
ABC Board Clarification

No additional detail provided

appointed when the Board was increased to five members this past March should have been appointed for three-

Tagged Passions:appointments

year terms. He recommended for Council Members to make a motion to extend their term-end dates to 2022.

Tagged Passions:council

MOTION was made by Council Member McIntyre to extend the term expiration dates for the new members, Dave Cohn and Jim Wojtowicz, who were appointed to the ABC Board when the Board membership was increased to five in March of 2019 to reflect three-year terms with expiration dates of March 30, 2022 and was unanimously approved. (Note: Mayor Pro Tem Cohn requested to recused himself from the vote, and his recusal was unanimously approved by Council.)

Tagged Passions:council and appointments

c.
Artificial Turf Field Geotechnical Update

No additional detail provided

Mr. Huntsinger provided an update on the installation of the artificial turf field. It is on schedule with completion

projected for October 1. Mr. Huntsinger informed Council that soil issues were identified earlier in the week, and the Town is looking at options to correct. Mr. Sadek explained that the bad soil was deposited during the

Tagged Passions:council

construction of Chestnut Parkway and is located in isolated areas. The Town has identified the areas via testing

and is working with Eagle Engineering to address. The Town is also working with the turf contractor to ensure the
Tagged Passions:construction

Town retains the warrantee for the product. Mr. Sadek stated the soil is not a big concern. Staff will make needed

corrections and additional costs will primarily be for the purchase of gravel.
Tagged Passions:purchasing and jail

d.
Captain Coble s comments See Item 6 Above

No additional detail provided

11.
DISCUSSION ITEMS

No additional detail provided

12.
MANAGER S UPDATES

Town Manager Sadek provided an update as follows: Projects are ongoing. The Newsletter should be released sometime next week.

Tagged Passions:manager

The Economic Development Website should be completed by the end of September.

No additional detail provided

Tagged Passions:economic development, development, and Development

13.
COUNCIL COMMENTS Council Members made general closing comments and thanked everyone for coming.

9-24-19 Agenda Packet Pg. 11

Tagged Passions:council

Town Council 09.10.2019 Regular Meeting Minutes Page 9

No additional detail provided

Tagged Passions:council

14.
CLOSED SESSION

Mayor Alvarez announced Closed Session under NCGS 143.381.11(a)(3 4).

MOTION was made by Council Member Head to enter Closed Session at 9:48 pm and was unanimously approved.

Tagged Passions:council

Approval of Closed Session Minutes

MOTION was made by Council Member Head to approve the August 13, 2019 Closed Session Minutes and was

unanimously approved.
Tagged Passions:council

Council returned to Open Session.

No additional detail provided

Tagged Passions:council

MOTION was made by Council Member Head to exit Closed Session at 10:09 p.m. and was unanimously approved.

Tagged Passions:council

15.
ADJOURN

No additional detail provided

Being no further business, Mayor Alvarez entered a Motion to adjourn.

Tagged Passions:business

MOTION was made by Council Member Head to adjourn the meeting at 10:09 p.m. and was unanimously

approved.
Tagged Passions:council

TOWN OF INDIAN TRAIL

_________________________
Tagged Passions:trails

Michael L. Alvarez, Mayor

Attest: _______________________

Kathy Queen, Town Clerk

9-24-19 Agenda Packet Pg. 12

Town Council 09.10.2019 Developer Meeting Minutes Page 1

TOWN COUNCIL DEVELOPER MEETING Council Chambers Town Hall September 10, 2019 @ 6:00 p.m.

MINUTES of the DEVELOPMENT WORKSHOP

The Indian Trail Town Council held a regular meeting in the Council Chambers located at 315 Matthews-Indian
Tagged Passions:development, trails, and Development

Trail Road, Indian Trail, NC with the following persons in attendance. The meeting began at 5:30 p.m.

Tagged Passions:streets and trails

Present: Mayor Michael Alvarez, Mayor Pro Tem David Cohn, Council Member Marcus McIntyre,

Absent: Staff: Town Manager Patrick Sadek, P.E, Attorney Karen Wolter, Clerk Kathy Queen DEVELOPER PRESENTATIONS
Tagged Passions:council, legal, and manager

Mayor Michael Alvarez called the meeting to order at 5:30 p.m. Two developers presented.

STINSON - (Between Seacrest Shortcut Road and Oakwood Lane) Council met with the development team of the Stinson project to discuss a mixed-use development to be located between Seacrest Shortcut Road and Oakwood Lane. Comments made by Kenneth Orndorff, Green Street Land Company

Tagged Passions:council, streets, development, Development, and commercial

3
properties were acquired a few years back with the rest being acquired following the expressway and other improvements.

Site is approximately 30 acres and is zoned GBD. Another 40 acres may be added adjacent to this property pending negotiations with the property owner. Mixed Use Project with Commercial Aspect and will include a Hotel (100-110 Rooms), Multifamily units, and potentially some single-family development.
Tagged Passions:development, hotel, zoning, Development, property, and commercial

Examples of Multi-Use Commercial and Multi-Floor Lofts with a plaza were displayed.

Tagged Passions:commercial

Goal is to construct a project that is generally self-sufficient: Live, shop, dine, medical, walkability, etc.

A preliminary site plan was reviewed. A stub street is planned in the event the adjacent property is acquired. The land use plan recently adopted in October was reviewed. Sample photos of apartments, a hotel, and sample retail space were reviewed. Conference center is also being considered based on demand. 9-24-19 Agenda Packet Pg. 13

Tagged Passions:streets, hotel, events, and property

Town Council 09.10.2019 Developer Meeting Minutes Page 2

Mayor Pro Tem Cohn asked if a grocery store was planned for the area. Mr. Orndorff stated this was the original intent; however, access points were limited, per NCDOT and the Turnpike Authority, which prevented them from developing the site a long time ago. Since the expressway has been opened, conversation among the grocery retailers indicates a preference to be located outside of the expressway. So, there is not a grocer component on this plan. Mayor Pro Tem Cohn stated he would be disappointed if they didn t include one in this plan. He also noted the apartments would be frowned upon for the area. He noted people have anticipated this development for many years.

Tagged Passions:council, grocery, development, Development, and commercial

Council Member Howe asked for clarification on the height of the buildings. Mr. Orndorff stated the apartments

are 3-Story and the hotel may be higher at 4-5 stories. She expressed concerns regarding the fire department.
Tagged Passions:council, hotel, and fire departments and districts

accommodate. The do not reflect style. Council Member asked how many sites that are this large have they built;

Tagged Passions:council and sites

Two but stated they are primarily a commercial developer, and as one of the owners, they felt this was a much better

No additional detail provided

Tagged Passions:commercial

plan for the area. He asked how many apartments are planned for the 30 acres; 275-300 units. He asked how the

40
acres fits into the bigger picture. Mr. Orndorff stated they would connect the properties via the stub street and

the new area would be primarily commercial and single family. He noted there is more frontage on the 40-acre site
Tagged Passions:streets, zoning, and commercial

making it more suitable for commercial. Timeframe? They plan to submit for rezoning in 60-90 days. Engineering

would begin as soon as zoning is approved. Some buildings could be ready for occupancy in 20- 22. The timeframe is dependent upon how long it takes to get through the proper permitting process.
Tagged Passions:zoning and commercial

has a verbal but the transaction is partially dependent upon the feedback received by Council. Council Member

No additional detail provided

Tagged Passions:council

McIntyre noted residents in the area might not favor apartments in this area and encouraged them to investigate.

He is excited about a development in this area.

Tagged Passions:development and Development

Demand is still being reviewed and will drive the process.

Blvd.) and the other is at Providence Rd. and Fairview. Mr. Orndorff s history includes the development of Harris Teeters (10-12), Starbucks, and Novant Medical facilities. Council Member Morse asked why they chose to build

Tagged Passions:council, grocery, development, restaurants, Development, and history

townhomes at the Concord site vs. apartments? Mr. Orndorff noted the market demand in that area was more

Tagged Passions:market

primarily single-family. The apartment market in that area has been underserved and is difficult to quantify rents.

Tagged Passions:market

It is an immature market for apartments.

No additional detail provided

Tagged Passions:market

Mr. Sadek brought up the consideration of water and sewer noting access is across the highway from this site. He

No additional detail provided

Tagged Passions:sewer, utility, Utility, and water

stated these and any additional comments will be forthcoming from Council and staff.

EVOKE AT INDIAN TRAIL- (Located Behind the Sun Valley Shopping Center) Council met with John Ross, Eagle Engineering, and Scott J. Bayer, Senior Broker Investments/Multifamily Specialist with MultiFamily USA to discuss a multi-family project, Evoke at Indian Trail, to be located off of

Tagged Passions:council, trails, investment, and commercial

Wesley Chapel Stouts Road behind the Sun Valley Theater. This is the second presentation with the first being

conducted on July 9, 2019. The architect for the project, Charles Watts, Watts Leaf Architects, was also present. 9-24-19 Agenda Packet Pg. 14

Tagged Passions:streets

Town Council 09.10.2019 Developer Meeting Minutes Page 3

Comments by Scott Bayer, Multifamily USA: He reviewed item that were brought up from the first meeting. Plans are moving forward and they wanted to show the property s vision was moving forward.

Tagged Passions:council, strategic, and property

Site plan was changed/updated from original

New photos were incorporated into the presentation. Vision is flat roof, urban style connectivity with a shopping center next door. Plans propose 4-floor apartments. They are engaged in a traffic study at this time as it will be necessary for rezoning.

Tagged Passions:strategic, zoning, commercial, and traffic

Five Buildings, Four-Story, 320 Units

Comments by John Ross, Eagle Engineering

He noted this plan is substantially different from what was originally presented. The original plan included more generic products with 24-unit building which looked a little too stacked. The site plan has been revised.

The developer invoked an architect and the building are more custom to this area. These buildings are larger (65-Unit) but there are only five buildings on the site which provided the ability to pull them further away from the adjacent single-family homes. This resulted in more open/green space and still meets the Town s parking requirements. The site drains from the planned north to the planned south with two water-quality features. They have had communications with the commercial neighbors to the south of the site and the Sun Valley Commons folks where they have a general agreement for pedestrian connectivity.
Tagged Passions:utility, Utility, water, communications, commercial, Communications, Pedestrian, and parking

entrances: Bethel Lane Wesley Chapel Stouts. The future land plan proposes a round-about at Bethel Lane,

which will be included into the traffic study for any improvements there. Council Member McIntyre asked if they have reached out to the Sheriff s Department or the Fire Department to ensure they have access in the event of a fire or medical emergency. Mr. Ross noted this would be part of the rezoning process.
Tagged Passions:council, public safety, fire departments and districts, zoning, events, emergency, and traffic

Council Member Cohn noted the project is beautiful. He noted an excess of apartments being requested for Indian

Trail, and he is concerned about the apartments staying rented. Council Member Head read the statistics for the

Tagged Passions:council and trails

apartments: 456 existing , 990 approved, and 3,500 proposed for the Town. Mr. Bayer thought it a good idea to

have a little higher density to support the business in the Center. Mayor Pro Tem Cohn stated this is not one of the greatest things in his mind right now.
Tagged Passions:business

walk type that would cross over the wetland area. Council Member Head asked if it would be possible to have

vehicle connectivity between the properties. Mr. Sadek noted the TIA did not include the traffic from this development and would thus would overload the entrances and exits to make the connection. Mayor Alvarez agreed with Mr. Cohn noting impact fees fall back on the citizens for improvements. If developers would work with municipalities to get the state to allow for some of the impact fees, it would speed up the process. ADJOURN
Tagged Passions:council, development, Development, and traffic

Being no further business, Mayor Alvarez entered a Motion to adjourn.

9-24-19 Agenda Packet Pg. 15
Tagged Passions:business

Town Council 09.10.2019 Developer Meeting Minutes Page 4

No additional detail provided

Tagged Passions:council

MOTION was made by Council Member McIntyre to adjourn the Special Meeting at 6:15 p.m. and it was

unanimously approved.
Tagged Passions:council

TOWN OF INDIAN TRAIL:

____________________________ Attest: Michael L. Alvarez, Mayor _________________________
Tagged Passions:trails

Kathy Queen, Town Clerk

9-24-19 Agenda Packet Pg. 16 9-24-19 Agenda Packet Pg. 17 PPAB 5101953v3 R190924-01

STATE OF NORTH CAROLINA)

) RESOLUTION R190924-01

TOWN OF INDIAN TRAIL )

Tagged Passions:trails

RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF INDIAN TRAIL NORTH

CAROLINA PROVIDING FOR THE ISSUANCE OF 2,500,000 GENERAL OBLIGATION PARK
Tagged Passions:council, parks, and trails

AND RECREATION BOND, SERIES 2019

WHEREAS, the Bond Order hereinafter-described has been adopted, and it is desirable to make
Tagged Passions:bond and recreation

provision for the issuance of the bond authorized by said Bond Order;

WHEREAS, the Town of Indian Trail, North Carolina desires to issue General Obligation Parks and Recreation Bond, Series 2019 in an aggregate principal amount not to exceed 2,500,000 and to request the North Carolina Local Government Commission sell such bond to ZMFU II, Inc. in accordance with the terms of this Resolution; NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of Indian Trail, North Carolina (the Town Council ) as follows:
Tagged Passions:council, boards and commissions, bond, parks, trails, and recreation

Section 1. For purposes of this Resolution, the following words will have the meanings

ascribed to them below:

Bond Order means the Bond Order relating to the Park and Recreation Projects (as defined herein) which was adopted by the Town Council on June 26, 2012 and approved by the vote of a majority of the voters who voted thereon at a referendum duly called and held on November 6, 2012. Business Day means a day other than a Saturday or Sunday on which the Purchaser, at its principal corporate offices, is not required or authorized by law to remain closed.
Tagged Passions:business, council, bond, parks, referendum, and recreation

Code means the Internal Revenue Code of 1986, as amended. Each reference to a section of the Code herein will be deemed to include the United States Treasury Regulations proposed or in effect

with respect thereto. Federal Securities means, to the extent permitted by laws of the State for the defeasance of local government bonds, (a) direct obligations of the United States of America for the timely payment of which the full faith and credit of the United States of America is pledged; (b) obligations, the timely
Tagged Passions:regulation and bond

payment of the principal of and interest on which is fully guaranteed as full faith and credit obligations of

the United States of America (including any securities described in (a) or (b) issued or held in the name of the Trustee in book-entry form on the books of the Department of Treasury of the United States of America), which obligations, in either case, are held in the name of a trustee and are not subject to redemption or purchase prior to maturity at the option of anyone other than the holder; (c) any bonds or other obligations of the State of North Carolina or of any agency, instrumentality or local governmental
Tagged Passions:bond and purchasing

unit of the State of North Carolina which are (i) not callable prior to maturity or (ii) as to which

irrevocable instructions have been given to the trustee or escrow agent with respect to such bonds or other obligations by the obligor to give due notice of redemption and to call such bonds for redemption on the date or dates specified, and which are rated by Moody s and S P within the highest rating category and 9-24-19 Agenda Packet Pg. 18
Tagged Passions:bond and instruction

2
PPAB 5101953v3 R190924-01

which are secured as to principal, redemption premium, if any, and interest by a fund consisting only of

cash or bonds or other obligations of the character described in clause (a) or (b) hereof which fund may be

applied only to the payment of such principal of and interest and redemption premium, if any, on such
Tagged Passions:bond

bonds or other obligations on the maturity date or dates thereof or the specified redemption date or dates

pursuant to such irrevocable instructions, as appropriate; (d) direct evidences of ownership of proportionate interests in future interest and principal payments on specified obligations described in (a) held by a bank or trust company as custodian, under which the owner of the investment is the real party in interest and has the right to proceed directly and individually against the obligor on the underlying obligations described in (a), and which underlying obligations are not available to satisfy any claim of the custodian or any person claiming through the custodian or to whom the custodian may be obligated; or (e)
Tagged Passions:bond, investment, and instruction

any other obligations permitted under State law for the defeasance of local government bonds.

Finance Officer means the Town s Finance Director or any successor to the function of the Town s statutory finance officer.

Tagged Passions:finance and bond

Moody s means Moody s Investors Service, a corporation organized and existing under the laws of the State of Delaware, its successors and their assigns and, if such corporation for any reason no

No additional detail provided

longer performs the functions of a securities rating agency, Moody s will be deemed to refer to any other nationally recognized rating agency other than S P designated by the Town.

Park and Recreation Projects means the acquisition, construction, renovation, improvement and equipping of parks and recreation facilities for a park located at 304 Matthews-Indian Trail Road and another community park to be designated by the Town, including the acquisition of land, rights-of-way and easements related thereto, if necessary. Pricing Certificate means a certificate of the Finance Officer delivered in connection with the issuance of the 2019 Bond as permitted under Section 12.
Tagged Passions:recognition, construction, finance, streets, bond, parks, trails, easement, and recreation

Purchaser means ZMFU II, Inc., as the original purchaser of the 2019 Bond, and its successors and assigns.

S P means S P Global Ratings, a division of Standard Poor s Financial Services LLC, its successors and their assigns and, if such corporation for any reason no longer performs the functions of a securities rating agency, S P will be deemed to refer to any other nationally recognized rating agency other than Moody s designed by the Town.

Tagged Passions:recognition, finance, bond, services, and poverty

Town means the Town of Indian Trail, North Carolina.

2019 Bond means the Town of Indian Trail, North Carolina General Obligation Park and Recreation Bond, Series 2019 authorized under the Bond Order. Section 2. The Town shall issue its 2019 Bond in an aggregate principal amount of 2,500,000.
Tagged Passions:bond, parks, trails, and recreation

Section 3. The 2019 Bond shall be dated their date of issuance and pay interest

semiannually on February 1 and August 1, beginning February 1, 2020. The 2019 Bond is being issued to provide funds (1) to finance the capital costs of the Park and Recreation Projects pursuant to and in

Tagged Passions:funding, finance, bond, parks, and recreation

accordance with the Bond Order and (2) to pay the costs of issuing the 2019 Bond.

Tagged Passions:bond

Section 4. The Board has ascertained and hereby determines that the average period of

No additional detail provided

usefulness of the capital projects being financed by the proceeds of the 2019 Bond is not less than 20

9-24-19 Agenda Packet Pg. 19
Tagged Passions:finance, capital spending, bond, and Capital Spending

3
PPAB 5101953v3 R190924-01

years computed from the date of issuance of the 2019 Bond.
Tagged Passions:bond

Section 5. The 2019 Bond is to be numbered R-1 and shall bear interest from its date at a rate of 2.12 computed on the basis of a 360-day year of twelve 30-day months.

The 2019 Bond is subject to mandatory sinking fund redemption before maturity in part at the

Tagged Passions:bond

redemption price of 100 of the principal amount to be redeemed, without premium, on each August 1 in

the years and in the amounts as follows:

DATE PRINCIPAL AMOUNT DATE PRINCIPAL AMOUNT * Maturity

Section 6. The 2019 Bond is to be registered as to principal and interest, and the Finance

Officer is directed to maintain the registration records with respect thereto. The 2019 Bond shall bear the

Tagged Passions:finance and bond

original or facsimile signatures of the Mayor and the Town Clerk or their respective designees.

Section 7. The 2019 Bond is subject to redemption at the option of the Town in whole or in

part on any date on 30 days prior written notice to the Purchaser, at such physical or email address provided by the Purchaser, at a redemption price of 100 of the principal redeemed, plus accrued interest

Tagged Passions:bond

thereon to the date of redemption.

In the event of a partial optional redemption of the principal amount of the 2019 Bond, the Town shall provide a certificate to the Purchaser and the Local Government Commission designating the
Tagged Passions:boards and commissions, bond, and events

application of the principal amount so redeemed against the annual installments due on the 2019 Bond, if

Tagged Passions:bond

no such certificate is delivered, such redemption shall be deemed a redemption of the principal amount of

the 2019 Bond then outstanding in inverse order.

Tagged Passions:bond

Section 8. The 2019 Bond and the provisions for the registration of the 2019 Bond and for

the approval of the 2019 Bond by the Secretary of the Local Government Commission are to be in substantially the form set forth in Exhibit A hereto.

Tagged Passions:boards and commissions, bond, and housing

Section 9. The Finance Officer, or his designee, is hereby authorized to execute a non-

arbitrage certificate with respect to the 2019 Bond in order to comply with Section 148 of the Code and the applicable Income Tax Regulations thereunder.
Tagged Passions:regulation, finance, taxes, Taxes, and bond

Section 10. The Finance Officer is hereby directed to create and establish a fund or account

(the 2019 GO Project Fund ) and may establish separate accounts or subaccounts within the 2019 GO Project Fund to track the expenditures related to the Park and Recreation Projects. The Finance Officer
Tagged Passions:finance, parks, and recreation

will deposit the proceeds from the sale of the 2019 Bond in the 2019 GO Project Fund to be used to pay

the capital costs of the Park and Recreation Projects and costs of issuance of the 2019 Bond in accordance with the Park and Recreation Bond Order. 9-24-19 Agenda Packet Pg. 20
Tagged Passions:sale, bond, parks, and recreation

4
PPAB 5101953v3 R190924-01

The Finance Officer will invest and reinvest any moneys held in the 2019 GO Project Fund as

Tagged Passions:finance

permitted by the laws of the State of North Carolina and the income, to the extent permitted by the Code,

is to be retained in the 2019 GO Project Fund and applied with the proceeds of the 2019 Bond as permitted by the Bond Order, as directed by the Finance Officer. The Finance Officer will keep and maintain adequate records pertaining to the 2019 GO Project Fund and all disbursements therefrom so as
Tagged Passions:finance and bond

to satisfy the requirements of the laws of the State of North Carolina and to assure that the Town

maintains its covenants with respect to the exclusion of the interest on the 2019 Bond from gross income for purposes of federal income taxation. Section 11. Actions taken by officials of the Town to select paying and transfer agents, and a bond registrar, or alternate or successor agents and registrars pursuant to Section 159E-8 of the Registered
Tagged Passions:taxes, Taxes, and bond

Public Obligations Act, Chapter 159E of the General Statutes of North Carolina, are hereby authorized

and approved. Section 12. The North Carolina Local Government Commission is hereby requested to sell the 2019 Bond at private sale without advertisement to the Purchaser subject to the provisions hereof as permitted by Sections 159-123(b)(8) and 159-123(c) of the General Statutes of North Carolina, as amended. The 2019 Bond will be non-transferable, except to a bank, insurance company or similar financial institution or any other entity approved by the Local Government Commission. The Finance Officer is hereby authorized to approve any changes to the terms of the 2019 Bond set forth in this Resolution by executing a Pricing Certificate on the date of issuance of the 2019 Bond

Tagged Passions:finance, boards and commissions, sale, bond, advertising, and insurance

provided that the 2019 Bond will be sold at a price of 100 of the par amount of the 2019 Bond and at an

interest rate not to exceed the interest rate set forth herein.

Tagged Passions:bond

Section 13. The Mayor and the Town Clerk, or their respective designees, are hereby

authorized and directed to cause the 2019 Bond to be prepared and, when they shall have been duly sold by the Local Government Commission, to execute the 2019 Bond and to turn the 2019 Bond over to the registrar and transfer agent of the Town, if any, for delivery to the Purchaser, as purchaser of the 2019 Bond.

Tagged Passions:boards and commissions and bond

Section 14. The Mayor, the Town Manager, the Finance Officer, the Town Attorney and the

Town Clerk, or their respective designees, individually and collectively, are authorized and directed to execute and deliver for and on behalf of the Town any and all additional certificates, documents, opinions or other papers and perform all other acts as may be required by the documents contemplated hereinabove or as may be deemed necessary or appropriate in order to implement and carry out the intent and purposes of this Resolution.

Tagged Passions:finance, legal, and manager

Section 15. This Resolution may be amended or supplemented, from time to time, without

the consent of the owners of the 2019 Bond if in the opinion of nationally recognized bond counsel, such amendment or supplement would not adversely affect the interests of the owners of the 2019 Bond and would not cause the interest on the 2019 Bond to be included in the gross income of a recipient thereof for federal income tax purposes. This Resolution may be amended or supplemented with the written consent of the owners of a majority in aggregate principal amount of the outstanding 2019 Bond, exclusive of any

Tagged Passions:recognition, taxes, Taxes, and bond

portion of the 2019 Bond owned by the Town, but a modification or amendment may not, without the

express written consent of any affected owner of the 2019 Bond, change the principal amount of the 2019
Tagged Passions:bond

Bond, change the interest rate payable on it, extend its maturity or alter the times for paying interest,

change the monetary medium in which principal and interest is payable, or reduce the percentage of consent required for amendment or modification. 9-24-19 Agenda Packet Pg. 21
Tagged Passions:bond

5
PPAB 5101953v3 R190924-01

Any act done pursuant to a modification or amendment consented to by the owners of the 2019

Bond is binding on all owners of the 2019 Bond and will not be deemed an infringement of any of the

Tagged Passions:bond

provisions of this Resolution, whatever the character of the act may be, and may be done and performed

as fully and freely as if expressly permitted by the terms of this Resolution, and after consent has been given, no owner of the 2019 Bond has any right or interest to object to the action, to question its propriety or to enjoin or restrain the Town from taking any action pursuant to a modification or amendment. If the Town proposes an amendment or supplemental resolution to this Resolution requiring the
Tagged Passions:bond

consent of the owners of the 2019 Bond, the registrar for the 2019 Bond shall, on being satisfactorily

Tagged Passions:bond

indemnified with respect to expenses, cause notice of the proposed amendment to be sent to each owner


[ See More ]
Council Map

Welcome!

Monitor up to five cities and counties and get alerts when they plan to vote on topics you're passionate about.