Title
Vote to approve a contract with the Town of Apex for the reimbursement associated with the Apex Gateway development
Abstract
Introduction & Background: As part of the economic development recruitment in 2022 for $68,750,000 Project REAL (Coca Cola), Chatham County agreed to assist the Town of Apex with the investment in infrastructure improvements to the Apex Gateway site located at the intersection of US Highway 64 and NC Highway 751, which is located in Chatham County.
Discussion & Analysis: The Town of Apex has extended the infrastructure for $2,200,000 and Chatham County is responsible for $300,000, now that the project is complete.
How does this relate to the Comprehensive Plan:
3. Promote a compact growth pattern by developing in and near existing towns, communities, and in designated, well planned, walkable, mixed-use centers.
4. Diversify the tax base and generate more quality, in-county jobs to reduce dependence on residential property taxes, create economic opportunity and reduce out-commuting.
7. Provide infrastructure to support desired development and support economic and environmental objectives.
Budgetary Impact: $300,000
Recommendation/Motion: Motion to approve a contract with the Town of Apex for the reimbursement associated with the Apex Gateway development.