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Agenda 2018 09-04AGENDA NEW HANOVER COUNTY BOARD OF COMMISSIONERS Assembly Room, New Hanover County Historic Courthouse 24 North Third Street, Room 301 Wilmington, NC WOODY WHITE, CHAIRMAN - SKIP WATKINS, VICE- CHAIRMAN JONATHAN BARFIELD, JR., COMMISSIONER - PATRICIAKUSEK, COMMSSIONER- ROB ZAPPLE, COMMSSIONER ;HRIS COUDRIET, COUNTY MANAGER- WANDACOPLEY, COUNTYATTORNEY- KYMCROWELL, CLERK TO THE BOARD SEPTEMBER 4, 2018 4:00 PM MEETING CALLED TO ORDER (Chairman Woody White) INVOCATION (Rabbi Julie Anne Kozlow, B'nai Israel Congregation) PLEDGE OF ALLEGIANCE (Vice- Chairman Skip Watkins) APPROVAL OF CONSENTAGENDA CONSENT AGENDA ITEMS OF BUSINESS 1. Approval of Minutes 2. Adoption of Constitution Week Proclamation ESTIMATED REGULAR AGENDA ITEMS OF BUSINESS MI NUTES 10 3. Consideration of a Resolution of the Board of County Commissioners of the County of New Hanover, North Carolina Providing For the Issuance of Not to Exceed $71,000,000 General Obligation School Bonds, Series 2018 40 4. Public Hearing Rezoning Request (Z17 -13) — Request by Right Angle Engineering, on Behalf of the Property Owner, McCormick Ventures, LLC, to Modify the Conditions of the Northchase Planned Development to Allow for an Additional Driveway Access to N. College Road from Property Located at 4616 Coddington Loop 40 5. Public Hearing Rezoning Request (Z18 -12) — Request by College Road Development Partners, LLC, Property Owner, to Revert 8.04 Acres of Land Located in the 2600 Block of N. College Road from (CUD) R -10, Conditional Use Residential District, to B -2 and R -15 Zoning Pursuant to Section 55.2 -6 of the New Hanover County Zoning Ordinance PUBLIC COMMENTS ON NON - AGENDA ITEMS (limit three minutes ESTIMATED ADDITIONAL AGENDA ITEMS OF BUSINESS MI NUTES Board of Commissioners - September 4, 2018 6. Additional Items County Manager County Commissioners Clerk to the Board County Attorney 7. ADJOURN Note: Minutes listed for each item are estimated, and if a preceding item takes less time, the Board will move forward until the agenda is completed. M ission New Hanover County is committed to progressive public policy, superior service, courteous contact, judicious exercise of authority, and sound fiscal management to meet the needs and concerns of our citizens today and tomorrow. Vision A vibrant prosperous, diverse coastal community, committed to building a sustainable future for generations to come. Core Values Integrity -Accountability- Professionalism - Innovation - Stewardship Board of Commissioners - September 4, 2018 NEW HANOVER COUNTY BOARD OF COMMISSIONERS REQUEST FOR BOARD ACTION MEETING DATE: September 4, 2018 CONSENT DEPARTIVIFNE Governing Body PRESENIFR(S): Kym Crowell, Clerk to the Board CONUCT(S): Kym Crowell SUBJECT: Approval of Minutes BRIEF SUNMJARY: Approve minutes from the following meetings: Agenda Review held on August 16, 2018 Regular Meeting held on August 20, 2018 STRATEGIC PLAN ALIC NIVIHNI: Superior Public Health, Safety and Education • Keep the public informed on important information RECOI AMNDED MOTION AND REQUEST® ACTIONS: Approve minutes. COUNTY MANA WS COnM9EVIS AND RECOMDVE RATIONS: (only Manager) CONAIISSIONERS' ACIIONS: Approved 5 -0. Board of Commissioners - September 4, 2018 ITEM: 1 NEW HANOVER COUNTY BOARD OF COMMISSIONERS REQUEST FOR BOARD ACTION MEETING DATE: September 4, 2018 .K DEPARMMENI: Governing Body PRESINIMS): Chairman White CONTACT(S): Kym Crowell, Clerk to the Board SUBJECT: Adoption of Constitution Week Proclamation BRIEF SUNBURY: Gina Thompson from the Wilmington Ladies Tea Walk Chapter of the National Society Daughters of the American Revolution has requested the Board to recognize September 17 -23, 2018 as Constitution Week in New Hanover County. If adopted, the proclamation will be mailed to Ms. Thompson. STRATEGIC PLANALICNNIENT: Superior Public Health, Safety and Education • Keep the public informed on important information RjralalaIy►111y17a:1y1r a rneI11n9 "11119:81D17_[al1releg Adopt the proclamation. ATTACIN9IN5: Constitution Proclamation 2018 COUNTY NIANA�S CONWE IIS AND RECOMMENDATIONS: (only Manager) Recommend approval. COMMISSIONERS' ACTIONS: Approved 5 -0. Board of Commissioners - September 4, 2018 ITEM: 2 NEW HANOVER COUNTY BOARD OF COMMISSIONERS CONSTITUTION WEEK 2018 PROCLAMATION WHEREAS, September 17, 2018 marks the two hundred and thirty -first anniversary of the drafting of the Constitution of the United States of America by the Constitutional Convention; and WHEREAS, it is fitting and proper to officially recognize this magnificent document and the anniversary of its creation; and WHEREAS, it is fitting and proper to officially recognize the patriotic celebrations which will commemorate the occasion; and WHEREAS, Public Law 915 guarantees the issuing of a proclamation each year by the President of the United States of America designating September 17 through 23 as Constitution Week. NOW, THEREFORE, BE IT PROCLAIMED by the New Hanover County Board of Commissioners that September 17 through 23, 2018 be recognized as "Constitution Week" in New Hanover County and ask that citizens reaffirm the ideals the Framers of the Constitution had in 1787. ADOPTED this the 4t" day of September, 2018. NEW HANOVER COUNTY Woody White, Chairman ATTEST: Kymberleigh G. Crowell, Clerk to the Board Board of Commissioners - September 4, 2018 ITEM: 2 - 1 - 1 NEW HANOVER COUNTY BOARD OF COMMISSIONERS REQUEST FOR BOARD ACTION MEETING DATE: September 4, 2018 DEPARMVIENR Finance PRESEVMt(S): Lisa Wurtzbacher, Chief Financial Officer CONTACT(S): Lisa Wurtzbacher and Martha Wayne, Deputy Chief Financial Officer SUBJECT: Consideration of a Resolution of the Board of County Commissioners of the County of New Hanover, North Carolina Providing For the Issuance of Not to Exceed $71,000,000 General Obligation School Bonds, Series 2018 BRIEF SUMMARY: Pursuant to and in accordance with the bond order adopted by the board of county commissioners on August 11, 2014, the county proposes to issue general obligation school bonds in the aggregate principal amount not to exceed $71,000,000. The county desires that the bonds be sold by the Local Government Commission through a competitive sale with a sale date on or about October 2, 2018. The county has previously funded $89,000,000 in bonds through an August 2015 and July 2017 sale. The proposed bond sale should provide for the necessary cash flow needs to complete the remaining school bond projects identified in 2014. This is the last planned sale of the authorized general obligation school bonds. Staff proposes that the forms of the following documents relating to the transaction described above be approved, entered into and delivered as applicable, to effectuate the proposed financing: 1) the Notice of Sale 2) the Preliminary Official Statement together with the final Official Statement The proposed transaction is included in the 2019 adopted budget. The county expects to remain in compliance with all debt policy limits with the issuance of this proposed transaction. STRATEGIC PLAN ALIQV1 UVP Superior Public Health, Safety and Education • Support programs to improve educational performance I►V aJ 1 [17►`/_ g 17:1 roil] ga 1017_[011 [col Adopt Resolution of the Board of County Commissioners of the County of New Hanover, North Carolina Providing for the Issuance of Not to Exceed $71,000,000 County of New Hanover, North Carolina General Obligation School Bonds, Series 2018. ATTACtAIE 5: Resolution Notice of Sale Preliminary Official Statement Board of Commissioners - September 4, 2018 ITEM: 3 CODN1Y NIANAGHVS COAWENIS AND RECONrdENVDATIONS: (only Manager) Recommend approval. CONMSSIONERS' ACTIONS: Approved 5 -0. Board of Commissioners - September 4, 2018 ITEM: 3 RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE COUNTY OF NEW HANOVER, NORTH CAROLINA PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $71,000,000 COUNTY OF NEW HANOVER, NORTH CAROLINA GENERAL OBLIGATION SCHOOL BONDS, SERIES 2018 WHEREAS, the Bond Order hereinafter - described has been adopted, and it is desirable to make provision for the issuance of the bonds authorized by said Bond Order; NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners (the `Board ") of the County of New Hanover, North Carolina (the "County") as follows: Section 1. For purposes of this Resolution, the following words have the meanings ascribed to them below: Arbitrage and Tax Regulatory Agreement" means the Arbitrage and Tax Regulatory Agreement executed by the County related to the 2018 Bonds. "Bond Order" means the Bond Order authorizing $ 160,000,000 General Obligation School Bonds, adopted by the Board on August 11, 2014, effective when approved by the voters of the County at a referendum duly called and held on November 4, 2014. "Code" means the Internal Revenue Code of 1986, as amended, and the rulings and regulations (including temporary and proposed regulations) promulgated thereunder, or any successor statute thereto. "Federal Securities " means (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 issued by any agency controlled or supervised by and acting as an instrumentality of the United States of America, the timely 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 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, if the 2018 Bonds are rated by Moody's, S &P, if the 2018 Bonds are rated by S &P and Fitch Ratings, if the 2018 Bonds are rated by Fitch Ratings, within the highest rating category and 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 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) any other obligations permitted under the laws of the State of North Carolina for the defeasance of local government bonds. PPAB 4357221v4 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 1 "Fiscal Year" means a twelve -month period commencing on the first day of July of any year and ending on the 30th day of June of the succeeding year, or such other twelve -month period which may subsequently be adopted as the Fiscal Year of the County. "Fitch Ratings " means Fitch Ratings Inc., 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 longer performs the functions of a securities rating agency, "Fitch Ratings" will refer to any other nationally recognized securities rating agency other than Moody's and S &P designated by the County. " 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 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 and Fitch Ratings designated by the County. "Pricing Certificate" means the certificate of the County Chief Financial Officer delivered in connection with the issuance of the 2018 Bonds which establishes the final maturity amounts, the interest payment dates and the provisions for redemption. "Projects " means constructing, improving, and renovating school facilities, specifically including, among other things, the construction and renovation of classroom facilities and district -wide improvements for safety, security, technology and building infrastructure, the acquisition and installation of furnishings and equipment, and the acquisition of land or rights —in —land required therefor, pursuant to and in accordance with the Bond Order. "S &P" means S &P Global Ratings, a business unit 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 and Fitch Ratings designated by the County. "2018 Bonds " means the County's General Obligation School Bonds, Series 2018 authorized under the Bond Order. Section 2. The County will issue not to exceed $71,000,000 in total aggregate principal amount of its 2018 Bonds. Section 3. The 2018 Bonds will be dated their date of issuance and pay interest semiannually on March 1 and September 1, beginning March 1, 2019, unless the County Chief Financial Officer establishes different dates in her Pricing Certificate. The 2018 Bonds are being issued to provide funds (1) to finance the capital costs of the Projects pursuant to and in accordance with the Bond Order and (2) to pay the costs of issuing the 2018 Bonds. Section 4. The Board has ascertained and hereby determines that the average period of usefulness of the capital projects being financed by the proceeds of the 2018 Bonds is not less than 25 years computed from the date of issuance of the 2018 Bonds. 2 PPAB 4357221v4 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 2 Section S. Unless changed by the County Chief Financial Officer in her Pricing Certificate, the 2018 Bonds are payable in annual installments on September 1 in each year as provided in the Pricing Certificate. Section 6. The 2018 Bonds will be numbered from "R -1" consecutively and upward. All 2018 Bonds will bear interest from their date at a rate or rates which will be hereafter determined on the sale thereof computed on the basis of a 360 -day year, constituting twelve 30 -day months. Section 7. The 2018 Bonds will be registered as to principal and interest, and the County Chief Financial Officer is directed to maintain the registration records with respect thereto. The 2018 Bonds will bear the original or facsimile signatures of the County Manager or the Chairman of the Board and the Clerk to the Board of the County. An original or facsimile of the seal of the County will be imprinted on each of the 2018 Bonds. Section 8. The 2018 Bonds will initially be issued by means of a book -entry system with no physical distribution of bond certificates made to the public. One bond certificate for each maturity will be issued to The Depository Trust Company, New York, New York ("DTC"), and immobilized in its custody. A book -entry system will be employed, evidencing ownership of the 2018 Bonds in principal amounts of $5,000 or integral multiples thereof, with transfers of beneficial ownership effected on the records of DTC and its participants pursuant to rules and procedures established by DTC. Interest on the 2018 Bonds will be payable to DTC or its nominee as registered owner of the 2018 Bonds in immediately available funds. The principal of and interest on the 2018 Bonds will be payable to owners of 2018 Bonds shown on the records of DTC at the close of business on the 15th day of the month preceding an interest payment date or a bond payment date. The County will not be responsible or liable for maintaining, supervising or reviewing the records maintained by DTC, its participants or persons acting through such participants. If (a) DTC determines not to continue to act as securities depository for the 2018 Bonds or (b) the County Chief Financial Officer determines that the continuation of the book -entry system of evidence and transfer of ownership of the 2018 Bonds would adversely affect the interests of the beneficial owners of the 2018 Bonds, the County will discontinue the book -entry system with DTC in accordance with the rules and procedures of DTC. If the County fails to identify another qualified securities depository to replace DTC, the County will authenticate and deliver replacement bonds in accordance with the rules and procedures of DTC. Section 9. Unless changed by the County Chief Financial Officer in her Pricing Certificate, the 2018 Bonds maturing on or before September 1, 2028 will not be subject to redemption prior to maturity. The 2018 Bonds maturing on and after September 1, 2029 will be subject to redemption prior to maturity, at the option of the County, from any money that may be made available for such purpose, either in whole or in part, on any date on or after September 1, 2028, at the redemption price of the principal amount of 2018 Bonds to be so redeemed, plus accrued interest to the redemption date. If less than all of the 2018 Bonds are called for redemption, the County will select the maturity or maturities of the 2018 Bonds to be redeemed in such manner as the County in its discretion may determine and DTC and its participants will determine which of the 2018 Bonds within a maturity will be redeemed in accordance with its rules and procedures; provided, however, that the portion of any 2018 Bond to be redeemed will be in principal amount of $5,000 or integral multiples thereof and that, in selecting 2018 Bonds for redemption, each 2018 Bond will be considered as representing that number of 2018 Bonds which is obtained by dividing the principal amount of such 2018 Bond by $5,000. Whenever the County elects to redeem 2018 Bonds, notice of such redemption of 2018 Bonds, stating the PPAB 4357221v4 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 3 redemption date, redemption price and any conditions to the redemption and identifying the 2018 Bonds or portions thereof to be redeemed by reference to their numbers and further stating that on such redemption date there will become due and payable on each 2018 Bond or portion thereof so to be redeemed, the principal thereof, and interest accrued to the redemption date and that from and after such date interest thereon will cease to accrue, will be given not less than 30 days nor more than 60 days before the redemption date in writing to DTC or its nominee as the registered owner of the 2018 Bonds, by prepaid certified or registered United States mail (or by such other means as permitted by DTC's rules and procedures), at the address provided to the County by DTC, but any failure or defect in respect of such mailing will not affect the validity of the redemption. If DTC, or its nominee, is not the registered owner of the 2018 Bonds, the County will give notice at the time set forth above by prepaid first class United States mail, to the then - registered owners of the 2018 Bonds or portions thereof to be redeemed at the last address shown on the registration books kept by the County. The County will also mail or transmit by facsimile or in electronic format a copy of the notice of redemption within the time set forth above (1) to the Local Government Commission of North Carolina (the "Local Government Commission ") and (2) to the Municipal Rulemaking Securities Board (the ` MSRB ") through the Electronic Municipal Market Access ( "EMMA ") system. If at the time of mailing of the notice of redemption there is not on deposit money sufficient to redeem the 2018 Bonds called for redemption, such notice may state that it is conditional on the deposit of money for the redemption on the date of redemption as set forth in the notice. Any notice, once given, may be withdrawn by notice delivered in the same manner as the notice of redemption was given. Section 10. The 2018 Bonds and the provisions for the registration of the 2018 Bonds and for the approval of the 2018 Bonds by the Secretary of the Local Government Commission will be in substantially the form set forth in Exhibit A hereto, the terms of which may be changed by the County Chief Financial Officer's Pricing Certificate. Section 11. The County Chief Financial Officer, or her designated representative, is hereby authorized to execute the Arbitrage and Tax Regulatory Agreement in order to comply with Section 148 of the Code and the applicable Income Tax Regulations thereunder. The County covenants that it will not take or permit, or omit to take or cause to be taken, any action that would adversely affect the exclusion from gross income of the recipient therefor for federal income tax purposes of the interest on the 2018 Bonds and, if it should take or permit, or omit to take or cause to be taken, any such action, the County will take or cause to be taken all lawful actions within its power necessary to rescind or correct such actions or omissions promptly on having knowledge thereof. The County covenants that it will comply with all the requirements of Section 148 of the Code, including the rebate requirements, and that it will not permit at any time any of the proceeds of the 2018 Bonds or other funds under their control be used, directly or indirectly, to acquire any asset or obligation, the acquisition of which would cause the 2018 Bonds to be "arbitrage bonds" for purposes of Section 148 of the Code. The County covenants that it will comply with the provisions of the Arbitrage and Tax Regulatory Certificate. Section 12. The County Chief Financial Officer is hereby directed to create and establish a special fund to be designated "County of New Hanover, North Carolina General Obligation School Bonds, Series 2018 Project Fund" (the "Project Fund") and may establish separate accounts within the Project Fund to track the expenditures related to each of the Projects. The County Chief Financial Officer will deposit the proceeds from the sale of the 2018 Bonds in the Project Fund. The County Chief Financial Officer will invest and reinvest any money held in the Project Fund as permitted by the laws of the State of North Carolina and the income, to the extent permitted by the Code, will be retained in the Project Fund and applied with the proceeds of the 2018 Bonds to pay the costs of the Projects, as directed by the County Chief Financial Officer. The County Chief Financial Officer will keep and maintain adequate records pertaining to the Project Fund and all disbursements therefrom so as to satisfy the 4 PPAB 4357221v4 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 4 requirements of the laws of the State of North Carolina and to assure that the County maintains its covenants with respect to the exclusion of the interest on the 2018 Bonds from gross income for purposes of federal income taxation. Section 13. Actions taken by officials of the County 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 Public Obligations Act, Chapter 159E of the General Statutes of North Carolina, as amended, are hereby authorized and approved. Section 14. The Local Government Commission is hereby requested to sell the 2018 Bonds through a competitive sale to the bidder whose bid results in the lowest interest cost to the County, determined on the basis of the net interest cost method. Section 15. The Chairman of the Board, the County Manager, the Clerk to the Board and the County Chief Financial Officer, individually and collectively (the `Authorized Officers "), are hereby authorized, empowered and directed to cause the 2018 Bonds to be prepared and, when they have been duly sold by the Local Government Commission, to execute the 2018 Bonds and to turn the 2018 Bonds over to the registrar and transfer agent of the County, if any, for delivery through the facilities of DTC to the purchaser or purchasers to whom they may be sold by the Local Government Commission. Section 16. The form and content of the Notice of Sale related to the 2018 Bonds, the Preliminary Official Statement related to 2018 Bonds (the `Preliminary Official Statement ") and the Final Official Statement related to the 2018 Bonds (the "Final Official Statement" and together with the Preliminary Official Statement, the "Official Statement") are in all respects authorized, approved and confirmed. The Authorized Officers are authorized, empowered and directed to execute and deliver the Official Statement in substantially the form and content presented to the Board, but with such changes, modifications, additions or deletions therein as to them seem necessary, desirable or appropriate, their execution thereof to constitute conclusive evidence of the approval of the Board of any and all changes, modifications, additions or deletions therein from the form and content of the Official Statement presented to the Board. Section 17. The Authorized Officers, are authorized, empowered and directed to execute and deliver for and on behalf of the County 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. Section 18. The County agrees, in accordance with Rule 15c2 -12 (the `Rule ") promulgated by the Securities and Exchange Commission (the "SEC") and for the benefit of the registered owners and beneficial owners of the 2018 Bonds, to provide to the MSRB: (1) by not later than seven months from the end of each Fiscal Year, beginning with the Fiscal Year ended June 30, 2018, audited financial statements of the County for the preceding Fiscal Year, if available, prepared in accordance with Section 159 -34 of the General Statutes of North Carolina, as it may be amended from time to time, or any successor statute, or if such audited financial statements are not then available, unaudited financial statements of the County for such Fiscal Year to be replaced subsequently by audited financial statements of the County to be delivered within 15 days after such audited financial statements become available for distribution; PPAB 4357221v4 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 5 (2) by not later than seven months from the end of each Fiscal Year, beginning with the Fiscal Year ended June 30, 2018, the financial and statistical data as of a date not earlier than the end of the preceding Fiscal Year for the type of information included under the captions "THE COUNTY - -DEBT INFORMATION" and "- -TAX INFORMATION" (excluding information on overlapping units and the subsection entitled Debt Outlook) in the Official Statement; (3) in a timely manner not in excess of 10 business days after the occurrence of the event, to the MSRB, notice of any of the following events with respect to the 2018 Bonds: (a) principal and interest payment delinquencies; (b) non - payment related defaults, if material; (c) unscheduled draws on the debt service reserves reflecting financial difficulties; (d) unscheduled draws on any credit enhancements reflecting financial difficulties; (e) substitution of any credit or liquidity providers, or their failure to perform; (f) adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701 -TEB) or other material notices or determinations with respect to the tax status of the 2018 Bonds or other material events affecting the tax status of the 2018 Bonds; (g) modification of the rights of the beneficial owners of the 2018 Bonds, if material; (h) call of any of the 2018 Bonds, other than mandatory sinking fund redemptions, if material, and tender offers; (i) defeasance of any of the 2018 Bonds; 0) release, substitution or sale of any property securing repayment of the 2018 Bonds, if material; (k) rating changes; (1) bankruptcy, insolvency, receivership or similar event of the County; (m) the consummation of a merger, consolidation, or acquisition involving the County or the sale of all or substantially all of the assets of the obligated person, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to such actions, other than pursuant to its terms, if material; and (n) the appointment of a successor or additional trustee, or the change in the name of a trustee, if material; and 6 PPAB 4357221v4 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 6 (4) in a timely manner to the MSRB, notice of the failure by the County to provide the required annual financial information described in (1) and (2) above on or before the date specified. The County agrees that its undertaking under this Section is intended to be for the benefit of the registered owners and the beneficial owners of the 2018 Bonds and is enforceable by any of the registered owners and the beneficial owners of the 2018 Bonds, including an action for specific performance of the County's obligations under this Section, but a failure to comply will not be an event of default and will not result in acceleration of the payment of the 2018 Bonds. An action must be instituted, had and maintained in the manner provided in this Section for the benefit of all of the registered owners and beneficial owners of the 2018 Bonds. All documents provided to the MSRB as described in this Section will be provided in an electronic format as prescribed by the MSRB and accompanied by identifying information as prescribed by the MSRB. The County may discharge its undertaking described above by providing such information in a manner the SEC subsequently authorizes in lieu of the manner described above. The County may modify from time to time, consistent with the Rule, the information provided or the format of the presentation of such information, to the extent necessary or appropriate in the judgment of the County, but: (1) any such modification can only be made in connection with a change in circumstances that arises from a change in legal requirements, change in law or change in the identity, nature or status of the County; (2) the information to be provided, as modified, must have complied with the requirements of the Rule as of the date of the Official Statement, after taking into account any amendments or interpretations of the Rule as well as any changes in circumstances; (3) any such modification must not materially impair the interest of the registered owners or the beneficial owners, as determined by nationally recognized bond counsel or by the approving vote of the registered owners of a majority in principal amount of the 2018 Bonds. Any annual financial information containing modified operating data or financial information must explain, in narrative form, the reasons for the modification and the impact of the change in the type of operating data or financial information being provided. The provisions of this Section terminate on payment, or provision having been made for payment in a manner consistent with the Rule, in full of the principal of and interest on the 2018 Bonds. Section 19. Those portions of this Resolution other than Section 18 may be amended or supplemented, from time to time, without the consent of the owners of the 2018 Bonds if in the opinion of nationally recognized bond counsel, such amendment or supplement would not adversely affect the interests of the owners of the 2018 Bonds and would not cause the interest on the 2018 Bonds 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 consent of the owners of a majority in aggregate principal amount of the outstanding 2018 Bonds, exclusive of 2018 Bonds, if any, owned by the County, but a modification or amendment (1) may not, without the express consent of any owner of 2018 Bonds, reduce the principal amount of any 2018 Bond, reduce the interest rate payable on it, extend its maturity or the times for 7 PPAB 4357221v4 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 7 paying interest, change the monetary medium in which principal and interest is payable, or reduce the percentage of consent required for amendment or modification and (2) as to an amendment to Section 18, must be limited as described therein. Any act done pursuant to a modification or amendment consented to by the owners of the 2018 Bonds is binding on all owners of the 2018 Bonds and will not be deemed an infringement of any of the 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. After consent has been given, no owner of a 2018 Bond has any right or interest to object to the action, to question its propriety or to enjoin or restrain the County from taking any action pursuant to a modification or amendment. If the County proposes an amendment or supplemental resolution to this Resolution requiring the consent of the owners of the 2018 Bonds, the registrar for the 2018 Bonds will, on being satisfactorily indemnified with respect to expenses, cause notice of the proposed amendment to be sent to each owner of the 2018 Bonds then outstanding by first -class mail, postage prepaid, to the address of such owner as it appears on the registration books; but the failure to receive such notice by mailing by any owner, or any defect in the mailing thereof, will not affect the validity of any proceedings pursuant hereto. Such notice will briefly set forth the nature of the proposed amendment and will state that copies thereof are on file at the designated office of the registrar for the 2018 Bonds for inspection by all owners of the 2018 Bonds. If, within 60 days or such longer period as may be prescribed by the County following the giving of such notice, the owners of a majority in aggregate principal amount of 2018 Bonds then outstanding have consented to the proposed amendment, the amendment will be effective as of the date stated in the notice. Section 20. Nothing in this Resolution precludes (a) the payment of the 2018 Bonds from the proceeds of refunding bonds or (b) the payment of the 2018 Bonds from any legally available funds. If the County causes to be paid, or has made provisions to pay, on maturity or on redemption before maturity, to the owners of the 2018 Bonds the principal of the 2018 Bonds (including accrued interest thereon), through setting aside trust funds or setting apart in a reserve fund or special trust account created pursuant to this Resolution or otherwise, or through the irrevocable segregation for that purpose in some sinking fund or other fund or trust account with an escrow agent or otherwise, money sufficient therefor, including, but not limited to, interest earned or to be earned on Federal Securities, the County will so notify Moody's, S &P and Fitch Ratings, as applicable, and then such 2018 Bonds will be considered to have been discharged and satisfied, and the principal of the 2018 Bonds (including accrued interest thereon) will no longer be deemed to be outstanding and unpaid; provided, however, that nothing in this Resolution requires the deposit of more than such Federal Securities as may be sufficient, taking into account both the principal amount of such Federal Securities and the interest to earned thereon, to implement any such defeasance. If such a defeasance occurs and after the County receives an opinion of a nationally recognized accounting or verification firm that the segregated money or Federal Securities together with interest earnings thereon is sufficient to effect a defeasance, the County will execute and deliver all such instruments as may be necessary to effect such a defeasance and desirable to evidence such release, discharge and satisfaction. The County will make provisions for the mailing of a notice to the owners of the 2018 Bonds that such money is available for such payment. Section 21. If any one or more of the agreements or provisions herein contained is held contrary to any express provision of law or contrary to the policy of express law, though not expressly prohibited, or against public policy, or for any reason whatsoever is held invalid, then such covenants, agreements or provisions are null and void and separable from the remaining agreements and provisions PPAB 4357221v4 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 8 and will in no way affect the validity of any of the other agreements and provisions hereof or of the 2018 Bonds authorized hereunder. Section 22. All resolutions or parts thereof of the Board in conflict with the provisions herein contained are, to the extent of such conflict, hereby superseded and repealed. Section 23. This Resolution is effective on its adoption. PASSED, ADOPTED AND APPROVED this 4th day of September, 2018. 9 PPAB 4357221v4 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 9 STATE OF NORTH CAROLINA SS: COUNTY OF NEW HANOVER I, Kym Crowell, Clerk to the Board of Commissioners of the County of New Hanover, North Carolina, DO HEREBY CERTIFY the attached to be a true and correct copy of a Resolution entitled, "RESOLUTION OF THE BOARD OF THE COUNTY OF NEW HANOVER, NORTH CAROLINA PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $71,000,000 COUNTY OF NEW HANOVER, NORTH CAROLINA GENERAL OBLIGATION SCHOOL BONDS, SERIES 2018" adopted by the Board of the County of New Hanover, North Carolina at a regular meeting held on the 4th day of September, 2018. IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County, this the day of 52018. (SEAL) PPAB 4357221v4 Kym Crowell Clerk to the Board of Commissioners County of New Hanover, North Carolina 10 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 10 No. R- APPENDIX A FORM OF 2018 BOND UNITED STATES OF AMERICA STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER INTEREST RATE MATURITY DATE DATED DATE CUSIP SEPTEMBER 1, 20_ OCTOBER 18, 2018 REGISTERED OWNER: CEDE & CO. PRINCIPAL SUM: DOLLARS GENERAL OBLIGATION SCHOOL BOND, SERIES 2018 THE COUNTY OF NEW HANOVER, NORTH CAROLINA (the "County') acknowledges itself indebted and for value received hereby promises to pay to the Registered Owner named above, on the Maturity Date specified above, upon surrender hereof, the Principal Sum shown above and to pay to the Registered Owner hereof interest thereon from the date of this 2018 Bond until it matures at the Interest Rate per annum specified above, payable on March 1, 2019 and semiannually thereafter on September 1 and March 1 of each year. Principal of and interest on this 2018 Bond are payable in immediately available funds to The Depository Trust Company ("DTC") or its nominee as registered owner of the 2018 Bonds and is payable to the owner of the 2018 Bonds shown on the records of DTC at the close of business on the 15 ' day of the month preceding an interest payment date or a bond payment date. The County is not responsible or liable for maintaining, supervising or reviewing the records maintained by DTC, its participants or persons acting through such participants. This 2018 Bond is issued in accordance with the Registered Public Obligations Act, Chapter 159E of the General Statutes of North Carolina, as amended, and pursuant to The Local Government Finance Act, as amended and the Bond Order adopted by the Board of Commissioners of the County (the "Board ") and approved by the vote of a majority of the voters who voted thereon at a referendum duly called and held. The 2018 Bonds are being issued to provide funds to (1) finance the capital costs of constructing, improving, and renovating school facilities, specifically including, among other things, the construction and renovation of classroom facilities and district -wide improvements for safety, security, technology and building infrastructure, the acquisition and installation of furnishings and equipment, and the acquisition of land or rights —in —land required therefor (the `Projects ") and (2) pay the costs of issuing the 2018 Bonds. The 2018 Bonds maturing on or before September 1, 2028 will not be subject to redemption prior to maturity. The 2018 Bonds maturing on and after September 1, 2029 will be subject to redemption prior to maturity, at the option of the County, from any money that may be made available for such purpose, either in whole or in part, on any date on or after September 1, 2028, at the redemption price of the principal amount of 2018 Bonds to be so redeemed, plus accrued interest to the redemption date. If less than all of the 2018 Bonds are called for redemption, the County will select the maturity or maturities of the 2018 Bonds to be redeemed in such manner as the County in its discretion may A -1 PPAB 4357221v4 Board of Commissioners - September 4, 2018 ITEM: 3 -1 - 11 determine and DTC and its participants will determine which of the 2018 Bonds within a maturity will be redeemed in accordance with its rules and procedures; provided, however, that the portion of any 2018 Bond to be redeemed will be in principal amount of $5,000 or integral multiples thereof and that, in selecting 2018 Bonds for redemption, each 2018 Bond will be considered as representing that number of 2018 Bonds which is obtained by dividing the principal amount of such 2018 Bond by $5,000. Whenever the County elects to redeem 2018 Bonds, notice of such redemption of 2018 Bonds, stating the redemption date, redemption price and any conditions to the redemption and identifying the 2018 Bonds or portions thereof to be redeemed by reference to their numbers and further stating that on such redemption date there will become due and payable on each 2018 Bond or portion thereof so to be redeemed, the principal thereof, and interest accrued to the redemption date and that from and after such date interest thereon will cease to accrue, will be given not less than 30 days nor more than 60 days before the redemption date in writing to DTC or its nominee as the registered owner of the 2018 Bonds, by prepaid certified or registered United States mail (or by such other means as permitted by DTC's rules and procedures), at the address provided to the County by DTC, but any failure or defect in respect of such mailing will not affect the validity of the redemption. If DTC, or its nominee, is not the registered owner of the 2018 Bonds, the County will give notice at the time set forth above by prepaid first class United States mail, to the then - registered owners of the 2018 Bonds or portions thereof to be redeemed at the last address shown on the registration books kept by the County. It is hereby certified and recited that all conditions, acts and things required by the constitution or statutes of the State of North Carolina to exist, be performed or happen precedent to or in the issuance of this 2018 Bond, exist, have been performed and have happened, and that the amount of this 2018 Bond, together with all other indebtedness of the County, is within every debt and other limit prescribed by said constitution or statutes of the State of North Carolina. The faith and credit of the County are hereby pledged to the punctual payment of the principal of and interest on this 2018 Bond in accordance with its terms. This 2018 Bond will not be valid or become obligatory for any purpose until the certification hereon is signed by an authorized representative of the Local Government Commission. [SIGNATURES BEGIN ON FOLLOWING PAGE] 2 PPAB 4357221v4 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 12 IN WITNESS WHEREOF, the County has caused this 2018 Bond to bear the original or facsimile of the signatures of the following officers of the County and an original or facsimile of the seal of the County to be imprinted hereon and this 2018 Bond to be dated its date of issuance. (SEAL) Clerk to the Board of Commissioners Chairman of the Board of Commissioners Date of Execution: October 18, 2018 The issue hereof has been approved under the provisions of The Local Government Bond Act. Secretary of the Local Government Commission PPAB 4357221v4 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 13 FORM OF ASSIGNMENT ASSIGNMENT FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto (Please print or typewrite Name and Address, including Zip Code, and Federal Taxpayer Identification or Social Security Number of Assignee) the within 2018 Bond and all rights thereunder, and hereby irrevocably constitutes and appoints Attorney to register the transfer of the within 2018 Bond on the books kept for registration thereof, with full power of substitution in the premises. Dated: Signature guaranteed by: NOTICE: Signature must be guaranteed by a Participant in the Securities Transfer Agent Medallion Program ( "Stamp ") or similar program. PPAB 4357221v4 NOTICE: The signature to this assignment must correspond with the name as it appears on the face of the within Bond in every particular, without alteration, enlargement or any change whatever. TRANSFER FEE MAY BE REQUIRED 4 Board of Commissioners - September 4, 2018 ITEM: 3 - 1 - 14 Notice of Sale and Bid Form Notes: • Bonds are to be awarded on a true interest cost (TIC) basis as described herein. • No bid for less than all of the bonds offered or less than 100% of the aggregate principal amount of the bonds will be entertained. • In the event that fewer than three conforming bids are received for the Bonds, the County will require the winning bidder to "hold the offering price" as de- scribed herein with respect to any maturities of such Bonds that have not satis- fied the 10% test (as defined herein) for five business days. County of New Hanover, North Carolina $6791159000* General Obligation School Bonds, Series 2018 Sealed and Electronic Bids Will Be Received Until 11 A.M., North Carolina Time, October 2, 2018 * Preliminary; subject to change as provided herein. Board of Commissioners - September 4, 2018 ITEM: 3 - 2 - 1 NOTICE OF SALE $67,115,000* COUNTY OF NEW HANOVER, NORTH CAROLINA GENERAL OBLIGATION SCHOOL BONDS, SERIES 2018 Sealed and electronic bids (as described below) will be received until 11:00 a.m., North Carolina Time, October 2, 2018, by the undersigned at its office, 3200 Atlantic Avenue, Longleaf Building, Ra- leigh, North Carolina 27604, at which time and place such bids will be opened for $67,115,000* County of New Hanover, North Carolina (the "County') General Obligation School Bonds, Series 2018 (the "Bonds "). The Bonds will be dated their date of delivery and mature annually on September 1 in each year as follows: Year Amount Year Amount 2019 $3,360,000 2029 $3,355,000 2020 3,360,000 2030 3,355,000 2021 3,360,000 2031 3,355,000 2022 3,355,000 2032 3,355,000 2023 3,355,000 2033 3,355,000 2024 3,355,000 2034 3,355,000 2025 3,355,000 2035 3,355,000 2026 3,355,000 2036 3,355,000 2027 3,355,000 2037 3,355,000 2028 3,355,000 2038 3,355,000 Proposals may be delivered by hand or by mail or electronic proposals may be submitted via BiDCOMP /PARITY in the manner described below, but no proposal will be considered which is not actually received by the State Treasurer at the place, date and time appointed. The State Treasurer is not responsible for any failure, misdirection or error in the means of transmission selected by any firm submitting a proposal. The County reserves the right to change, cancel or reschedule, from time to time, the date or time established for the receipt of bids and will undertake to notify registered prospective bidders via noti- fication published on BiDCOMP /PARITY, or by other means as necessary. The County may change the scheduled delivery date for the Bonds by notice given in the same manner as that set forth for a change in the date for the receipt of bids. To the extent any instructions or directions set forth in BiDCOMP /PARITY conflict with this Notice, the terms of this Notice shall control. For further information about BiDCOMP /PARITY, po- tential purchasers may contact BiDCOMP /PARITY at (212) 849 -5021. Each prospective purchaser is solely responsible for making necessary arrangements to access BiDCOMP /PARITY for purposes of submitting its proposal in a timely manner and in compliance with this Notice of Sale. The terms of this Notice and the sale of the Bonds are governed by North Carolina law. The Local Government Commission of North Carolina (the "Commission ") does not have a regis- tration process for potential purchasers. Prospective purchasers who intend to submit their proposal by BiDCOMP /PARITY must register and be contracted customers of i -Deal LLC's BiDCOMP Compet- itive Bidding System before the sale. By submitting a proposal for the Bonds, a prospective purchaser represents and warrants to the State Treasurer that such financial institution's proposal is submitted Preliminary; subject to change. Board of Commissioners - September 4, 2018 ITEM: 3 - 2 - 2 for and on behalf of such institution by an officer or agent who is duly authorized to bind the prospec- tive purchaser to a legal, valid and enforceable contract for the purchase of the Bonds. Neither the Commission nor the County has reviewed or verified the accuracy or completeness of the information contained in BiDCOMP /PARITY and neither assumes responsibility for the ac- curacy and completeness of such information. The Bonds will be General Obligation School Bonds of the County of New Hanover, North Caro- lina (the "County"), all the taxable real property within which will be subject to the levy of ad valorem taxes, without limitation as to rate or amount, to pay the Bonds and the interest thereon. The Bonds will be issued as fully registered bonds in a book -entry only system under which The Depository Trust Company, New York, New York ( "DTC "), will act as securities depository nominee for the Bonds as fully described in the Preliminary Official Statement described below. Purchases and transfers of the Bonds may be made only in authorized denominations of $5,000 and in accordance with the practices and procedures of DTC. Interest on the Bonds will be payable semiannually on each March 1 and September 1, beginning March 1, 2019, and principal of the Bonds will be paid annually on September 1, as set forth in the foregoing schedule to DTC or its nominee as registered owner of the Bonds. The principal and interest on the Bonds will be payable to owners of Bonds shown on the records of DTC at the close of business on the 15th day of the month preceding an interest payment date or a bond payment date. The Bonds maturing on or before September 1, 2028 will not be subject to redemption prior to maturity. The Bonds maturing on or after September 1, 2029 will be subject to redemption prior to maturity, at the option of the County, from any moneys that may be made available for such purpose, either in whole or in part on any date on or after September 1, 2028, at the redemption price of the principal amount of Bonds to be so redeemed, plus accrued interest to the redemption date. If less than all of the Bonds of any one maturity are called for redemption, the particular Bonds or portions of Bonds to be redeemed shall be selected by lot in such manner as the County in its dis- cretion may determine; provided, however, that the portion of any Bond to be redeemed shall be in an authorized denomination and that, in selecting Bonds for redemption, each Bond shall be considered as representing that number of Bonds which is obtained by dividing the principal amount of such Bond by the minimum authorized denomination. So long as a book -entry system with DTC is used for de- termining beneficial ownership of the Bonds, if less than all of the Bonds within a maturity are re- deemed, DTC shall determine in accordance with its rules and procedures the amount of interest of each Direct Participant in the Bonds within such maturity to be redeemed. Notice of redemption will be given to the registered owners of the Bonds and to the Municipal Securities Rulemaking Board, as provided in the Resolution authorizing the issuance of the Bonds (the "Bond Resolution "). Such notice will be given not less than 30 nor more than 60 days prior to the date fixed for redemption. No bid for less than all of the Bonds offered or for less than the face value of the Bonds will be entertained. Bidders are requested to indicate the interest rate or rates, in multiples of 1/8 or 1/20 of 1 %, to be applicable to the maturities of the Bonds. Any number of interest rates may be named, provided the difference between the lowest and highest rates named in the bid shall not exceed 3% with a maximum interest rate of 5 %. All Bonds maturing on the same date must bear interest at the same rate, and the interest rate on any Bond shall be the same throughout its life. The Bonds will be awarded to the bidder offering to purchase the Bonds at the lowest interest cost to the County, such cost to be determined in accordance with the true interest cost (TIC) method by doubling the semian- nual interest rate, compounded semiannually, necessary to discount the debt service payments from the payment dates to the expected delivery date (October 18, 2018) such that the sum of such present values is equal to the price bid. 3 Board of Commissioners - September 4, 2018 ITEM: 3 - 2 - 3 Bidders may Contact First Tryon Advisors at (704) 926 -2458 (Attention: Will Ahlum) not later than 9:30 a.m., North Carolina Time, on the date of sale for more information. Each bid delivered by hand or mail must be submitted on a form to be furnished with additional information by the undersigned and must be enclosed in a sealed envelope marked "Bid for Bonds, Series 2018 (County of New Hanover)." A good faith deposit (the "Deposit ") in the amount of $1,342,300 will be required for each bid. The Deposit may be submitted in the form of an official bank check, a cashier's check or a certified check upon an incorporated bank or trust company payable un- conditionally to the order of the State Treasurer of North Carolina accompanying the bid. Alterna- tively, the successful bidder's Deposit may be a wire transfer upon initial notification of the award of the bonds. Award or rejection of bids will be made on the date above stated for receipt of bids, and any checks of unsuccessful bidders will be returned immediately. If the Deposit of the successful bidder is provided by check, the check of the successful bidder will be cashed by the State Treasurer. If the bonds are awarded to a bidder whose Deposit is by wire transfer, the successful bidder must submit its Deposit to the State Treasurer not later than 2:00 P.M. North Carolina Time on the date of the award of the bonds, to the bank account instructed to the successful bidder by the State Treasurer during the initial notification of the award. If the Deposit is not received by that time, the Commission will reject its award to the initial successful bidder, and will contact the next lowest bidder and offer said bidder the opportunity to become the successful bidder, on the terms as outlined in said bidder's bid, so long as said bidder submits a good faith wire within two hours of the time offered. The Com- mission will not award the bonds to the successful bidder absent receipt of a good faith deposit prior to awarding the bonds. The Deposit of the successful bidder will be invested solely for the benefit of the County, and no interest on the Deposit will accrue to the successful bidder. At closing, the principal amount of the Deposit will be applied, without interest, as partial payment for the bonds. In the event that the successful bidder fails to comply with the terms of its bid, the Deposit and any interest earn- ings will be retained as and for full liquidated damages. If the County fails to deliver the bonds, then the Deposit and any interest earnings will be remitted to the successful bidder as and for full liquidated damages. The winning bidder shall assist the County in establishing the issue price of the Bonds and shall execute and deliver to the County at the time of delivery of the Bonds an "issue price" or similar cer- tificate setting forth the reasonably expected initial offering price to the public or the sales price or prices of the Bonds, together with the supporting pricing wires or equivalent communications, sub- stantially in the form attached hereto, with such modifications as may be appropriate or necessary, in the reasonable judgment of the winning bidder, the County and Bond Counsel to the County. The County intends that the provisions of Section 1. 148- 1(f) (3) (i) of the United States Treasury Regulations (defining "competitive sale" for purposes of establishing the issue price of bonds) will apply to the initial sale of the Bonds (the "competitive sale requirements ") because: (1) the Commission shall disseminate this Notice of Sale for the Bonds to potential underwrit- ers in a manner that is reasonably designed to reach potential underwriters; (2) all bidders shall have an equal opportunity to bid; (3) the Commission expects to receive bids from at least three underwriters of municipal bonds who have established industry reputations for underwriting new issuances of municipal bonds; and (4) the Commission anticipates awarding the sale of the Bonds to the respective bidders who submit a firm offer to purchase the Bonds at the lowest interest cost as set forth in this Notice of Sale. Any bid submitted pursuant to this Notice of Sale shall be considered a firm offer for the pur- chase of the Bonds, as specified in the bid. 4 Board of Commissioners - September 4, 2018 ITEM: 3 - 2 - 4 In the event that the competitive sale requirements for the Bonds as specified above are not satisfied, the County shall so advise the winning bidder and the provisions set forth below shall apply. Upon such event, the County may determine to treat (i) the first price at which 10% of a maturity of the Bonds (the "10% test ") is sold to the public as the issue price of that maturity and/or (ii) the initial offering price to the public as of the sale date of any maturity of the Bonds as the issue price of that maturity (the "hold- the - offering -price rule "), in each case applied on a maturity -by- maturity basis. The winning bidder for the Bonds shall promptly advise the County upon the award of the Bonds of (i) the initial offering price to the public of each maturity of the Bonds and (ii) each maturity of the Bonds that satisfies the 10% test. Any maturities of the Bonds that do not satisfy the 10% test as of the date and time of award of the Bonds shall be subject to the hold- the - offering -price rule as described below. The winning bidder may not cancel its bid in the event that the hold -the- offering -price rule applies to any maturity of the Bonds. Bidders should prepare their bids on the assumption that some or all of the maturities of the Bonds will be subject to the hold- the - offering -price rule in order to establish the issue price of the Bonds in the event the competitive sale requirements for the Bonds are not satisfied. By submitting a bid for the Bonds, the winning bidder shall (i) confirm that the underwriters have offered or will offer the Bonds to the public on or before the sale date at the offering price or prices (the "initial offering price "), or at the corresponding yield or yields, set forth in the bid submitted by the winning bidder and (ii) agree, on behalf of the underwriters participating in the purchase of the Bonds, that the underwriters will neither offer nor sell unsold Bonds of any maturity to which the hold- the - offering -price rule shall apply to any person at a price that is higher than the initial offering price to the public during the period starting on the sale date and ending on the earlier of: (1) the close of the fifth (51h) business day after the sale date; or (2) the date on which the underwriters have sold at least 10% of that maturity of the Bonds to the public at a price that is no higher than the initial offering price to the public. The winning bidder shall advise the County promptly after the close of the fifth (5th) business day after the sale date whether the underwriters sold at least 10% of each maturity of the Bonds subject to the hold the offering price rule to the public at prices that are no higher than the initial offering price for such maturity prior to offering or selling any Bonds of such maturity at a price higher than the initial offering price to the public. The County acknowledges that, in making the representations set forth above, the winning bidder will rely on (i) the agreement of each underwriter to comply with the requirements for estab- lishing the issue price of the Bonds, including, but not limited to, its agreement to comply with the hold- the - offering -price rule, if applicable, as set forth in an agreement among underwriters and the related pricing wires, (ii) in the event a selling group has been created in connection with the initial sale of the Bonds to the public, the agreement of each dealer who is a member of the selling group to comply with the requirements for establishing the issue price of the Bonds, including, but not limited to, its agreement to comply with the hold- the - offering -price rule, if applicable, as set forth in a selling group agreement and the related pricing wires, and (iii) in the event that an underwriter or a dealer who is a member of the selling group is a party to a third -party distribution agreement that was em- ployed in connection with the initial sale of the Bonds to the public, the agreement of each broker - dealer that is a party to such agreement to comply with the requirements for establishing the issue price of the Bonds, including, but not limited to, its agreement to comply with the hold- the - offering- price rule, if applicable, as set forth in the third -party distribution agreement and the related pricing wires. The County further acknowledges that each underwriter shall be solely liable for its failure to comply with the requirements for establishing the issue price of the Bonds, including, but not limited to, its agreement to comply with the hold- the - offering -price rule, if applicable, and that no underwriter shall be liable for the failure of any other underwriter, or of any dealer who is a member of a selling group, or of any broker - dealer that is a party to a third -party distribution agreement to comply with 5 Board of Commissioners - September 4, 2018 ITEM: 3 - 2 - 5 the requirements for establishing the issue price of the Bonds, including, but not limited to, its agree- ment to comply with the hold- the - offering -price rule, if applicable. By submitting a bid, each bidder confirms that: (i) any agreement among underwriters, any selling group agreement and each third -party dis- tribution agreement (to which the bidder is a party) relating to the initial sale of the Bonds to the public, together with the related pricing wires, contains or will contain language obligating each un- derwriter, each dealer who is a member of the selling group, and each broker - dealer that is a party to such third -party distribution agreement, as applicable: (A) (1) to report the prices at which it sells to the public the unsold Bonds of each maturity allocated to it, whether or not the delivery date of the Bonds has occurred, until it is notified by the winning bidder that either the 10% test has been satisfied as to the Bonds of that maturity, provided that the reporting obligation after the delivery date of the Bonds may be at reasonable periodic intervals or other upon request of the County (provided that with respect to any maturity of the Bonds that is subject to the hold- the - offering price rule, such reporting obligation shall only be for sale of the Bonds of that maturity that occur on or before the fifth (5th) business day after the sale date) and (2) to comply with the hold- the - offering- price rule, if applicable, if and for so long as directed by the winning bidder and as set forth in the related pricing wires; (B) to promptly notify the winning bidder of any sales of the Bonds that, to its knowledge, are made to a purchaser who is a related party to an underwriter participating in the initial sale of the Bonds to the public (each such term being used as defined below); and (C) to acknowledge that, unless otherwise advised by the underwriter, dealer or bro- ker- dealer, the winning bidder shall assume that each order submitted by the underwriter, dealer or broker - dealer is a sale to the public; and (ii) any agreement among underwriters or selling group agreement relating to the initial sale of the Bonds to the public, together with the related pricing wires, contains or will contain language obligating each underwriter or dealer that is a party to a third -party distribution agreement to be employed in connection with the initial sale of the Bonds to the public to require each broker - dealer that is a party to such third -party distribution agreement to (A) report the prices at which it sells to the public the unsold Bonds of each maturity allocated to it, whether or not the delivery date of the Bonds has occurred, until it is notified by the winning bidder that either the 10% test has been satisfied as to the Bonds of that maturity, provided that the reporting obligation after the delivery date of the Bonds may be at reasonable periodic intervals or other upon request of the County (provided that with respect to any maturity of the Bonds that is subject to the hold- the - offering price rule, such reporting obligation shall only be for sale of the Bonds of that maturity that occur on or before the fifth (5th) business day after the sale date) and (B) comply with the hold- the - offering -price rule, if applicable, if and for so long as directed by the winning bidder or the underwriter and as set forth in the related pricing wires. Sales of any Bonds to any person that is a related party to an underwriter participating in the initial sale of the Bonds to the public shall not constitute sales to the public for purposes of this Notice of Sale. Further, for purposes of this Notice of Sale: (1) "public" means any person other than an underwriter or a related party; (2) "underwriter" means (A) any person that agrees pursuant to a written contract with the Commission or the County (or with the lead underwriter to form an underwriting syndicate) to partic- ipate in the initial sale of the Bonds to the public and (B) any person that agrees pursuant to a written 6 Board of Commissioners - September 4, 2018 ITEM: 3 - 2 - 6 contract directly or indirectly with a person described in clause (A) to participate in the initial sale of the Bonds to the public (including a member of a selling group or a party to a third -party distribution agreement participating in the initial sale of the Bonds to the public); (3) a purchaser of any of the Bonds is a "related party" to an underwriter if the underwriter and the purchaser are subject, directly or indirectly, to (i) more than 50% common ownership of the voting power or the total value of their stock, if both entities are corporations (including direct owner- ship by one corporation of another), (ii) more than 50% common ownership of their capital interests or profits interests, if both entities are partnerships (including direct ownership by one partnership of another), or (iii) more than 50% common ownership of the value of the outstanding stock of the corpo- ration or the capital interests or profit interests of the partnership, as applicable, if one entity is a corporation and the other entity is a partnership (including direct ownership of the applicable stock or interests by one entity of the other); and (4) "sale date" means the date that the Bonds are awarded by the Commission to the winning bidder. The CUSIP Service Bureau will be requested to assign CUSIP identification numbers to the bonds. Assignment of the CUSIP identification numbers is solely within the discretion of the CUSIP Service Bureau, and neither the failure to print such numbers on any bond nor any error with respect thereto shall constitute cause for failure or refusal by the successful bidder to accept delivery of or pay for the bonds in accordance with the terms of his bid. All expenses in relation to the printing of CUSIP numbers on the bonds and the CUSIP Service Bureau charge for the assignment of said numbers shall be paid for by the County. The Bonds will be delivered on or about October 18, 2018, against payment therefor in Federal Reserve funds. The unqualified approving opinion of Parker Poe Adams & Bernstein LLP, Raleigh, North Caro- lina, will be furnished without cost to the purchaser. There will also be furnished the usual closing papers. The right to reject all bids and to waive any irregularities or informalities is reserved. The County has in the Bond Resolution undertaken, for the benefit of the beneficial owners of the Bonds, to provide the information under the caption "CONTINUING DISCLOSURE" in the Of- ficial Statement in the manner provided therein. Copies of the Preliminary Official Statement and the Notice of Sale and Bid Form relating to the Bonds may be obtained from the Commission, 3200 Atlantic Avenue, Longleaf Building, Raleigh, North Carolina 27604 (919- 814 - 4300). The Preliminary Official Statement is deemed to be a final official statement within the meaning of Rule 15c2 -12 of the Securities and Exchange Commission (the "Rule ") except for the omission of certain pricing and other information allowed to be omitted by such Rule to be made available to the successful bidder by the Commission in a Final Official Statement. By the submission of a bid for the Bonds, the successful bidder contracts for the receipt of up to one hundred (100) copies of the Final Official Statement which will be delivered by the Commission to the successful bidder by October 11, 2018. In order to complete the Final Official Statement, the suc- cessful bidder must furnish on behalf of the underwriters of the Bonds the following information to the Commission by facsimile transmission (919- 855 -5812) or overnight delivery received by the Com- mission within 24 hours after the receipt of bids for the Bonds: Board of Commissioners - September 4, 2018 ITEM: 3 - 2 - 7 a. Initial offering prices (expressed as a price exclusive of accrued interest, or yield per ma- turity). The successful bidder must provide the initial public offering prices, as the County will not include in the Official Statement an "NRO" ( "not reoffered ") designation to any ma- turity of the bonds. b. Selling compensation (aggregate total anticipated compensation to the underwriters ex- pressed in dollars). c. The identity of the underwriters if the successful bidder is a part of a group or syndicate. d. Any other material information necessary for the Final Official Statement but not known to the County or the Commission. Concurrently with the delivery of the Bonds, the Chairman of the County Commissioners, the County Manager and the Chief Financial Officer of the County will deliver to the purchaser of the Bonds a certificate stating that, to the best of their knowledge, the Preliminary Official Statement did not, as of its date and as of the sale date, and the Final Official Statement does not, as of the date of delivery of the Bonds, contain an untrue statement of a material fact or omit to state a material fact required to be included therein for the purpose for which the Preliminary Official Statement or the Final Official Statement is to be used or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, provided such certificate shall not include consideration of information supplied by, or which should have been supplied by, the successful bidder for the Bonds for inclusion in the Final Official Statement. Further, the County Attorney will certify that there is no litigation pending or, to his knowledge, threatened against the County which would materially adversely affect the County's ability to meet its financial obligations. In addition, concurrently with the delivery of the Bonds the Secretary of the Commission will deliver to the purchaser of the Bonds a certificate stating that nothing has come to his attention which would lead him to believe that the Preliminary Official Statement, as of its date and as of the date of sale, and the Final Official Statement as of the date of delivery of the Bonds, contains an untrue state- ment of a material fact or omits to state a material fact required to be included therein for the purpose for which the Preliminary Official Statement or the Final Official Statement is to be used or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, provided such certificate shall not include consideration of information supplied by, or which should have been supplied by, the successful bidder for the Bonds for inclusion in the Final Official Statement. LOCAL GOVERNMENT COMMISSION Raleigh, North Carolina i Greg C. Gaskins Secretary of the Commission 8 Board of Commissioners - September 4, 2018 ITEM: 3 - 2 - 8 COUNTY OF NEW HANOVER, NORTH CAROLINA $67,115,000* GENERAL OBLIGATION SCHOOL BONDS, SERIES 2018 CERTIFICATE AS TO ISSUE PRICE [NOTE: A certificate in substantially the following form will be required if the competitive bidding requirements described in the Notice of Sale are satisfied for the Bonds. If the competitive bidding requirements are not satisfied for the Bonds, a certificate evidencing compliance with the 10% test and /or the hold- the - offering -price rule (as each is described in the Notice of Sale), as applicable for each maturity, shall be required.] The undersigned, on behalf of [NAME OF UNDERWRITER REPRESENTATIVE] (the "Rep- resentative"), on behalf of itself and [NAMES OF OTHER UNDERWRITERS] (collectively, the "Un- derwriting Group "), hereby certifies as follows with respect to the sale of $67,115,000* General Obli- gation School Bonds, Series 2018 (the "Bonds ") of the County of New Hanover. Reasonably Expected Initial Offering Price. (a) As of the Sale Date, the reasonably expected initial offering prices of the Bonds to the Public by are the prices listed in Schedule A (the "Expected Offer- ing Prices "). The Expected Offering Prices are the prices for the Maturities of the Bonds used by in formulating its bid to purchase the Bonds. Attached as Schedule B is a true and correct copy of the bid provided by to purchase the Bonds. (b) to submitting its bid. (c) the Bonds. The bid submitted by 2. Defined Terms. was not given the opportunity to review other bids prior constituted a firm offer to purchase (a) "Maturity" means Bonds with the same credit and payment terms. Bonds with different maturity dates are treated as separate Maturities. (b) "Public" means any person (including an individual, trust, estate, partnership, association, company, or corporation) other than an Underwriter or a related party to an Underwriter. The term "related party" for purposes of this certificate generally means any two or more persons who have greater than 50% common ownership, directly or indirectly. (c) "Sale Date" means October 2, 2018. (d) "Underwriter" means (i) any person that agrees pursuant to a written contract with the County (or with the lead underwriter to form an underwriting syndicate) to participate in the initial sale of the Bonds to the Public, and (ii) any person that agrees pursuant to a written contract directly or indirectly with a person described in clause (i) of this paragraph to participate in the initial sale of the Bonds to the Public (including a member of a selling group or a party to a third -party distribution agreement participating in the initial sale of the Bonds to the Public). Preliminary; subject to change. 9 Board of Commissioners - September 4, 2018 ITEM: 3 - 2 - 9 The representations set forth in this certificate are limited to factual matters only. Nothing in this certificate represents 's interpretation of any laws, including spe- cifically Sections 103 and 148 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder. The undersigned understands that the foregoing information will be relied upon by the County with respect to certain of the representations set forth in the Tax Certificate and with respect to com- pliance with the federal income tax rules affecting the Bonds, and by Parker Poe Adams & Bernstein LLP in connection with rendering its opinion that the interest on the Bonds is excluded from gross income for federal income tax purposes, the preparation of the Internal Revenue Service Form 8038 - G, and other federal income tax advice that it may give to the County from time to time relating to the Bonds. Signed this day of October, 2018. [Name of book - running senior manager] IM Title: 10 Board of Commissioners - September 4, 2018 ITEM: 3 - 2 - 10 EXPECTED INITIAL OFFERING PRICES Due Principal Initial Public September 1 Amount Maturing Offering Price 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 [Attach Copy of Representative's Bid] 11 Board of Commissioners - September 4, 2018 ITEM: 3 - 2 - 11 SCHEDULE A SCHEDULE B BID FOR BONDS 2018 Local Government Commission 3200 Atlantic Avenue, Longleaf Building Raleigh, North Carolina 27604 Ladies and Gentlemen: Subject to the provisions and in accordance with the terms of the annexed Notice of Sale, which are hereby made a part of this bid, we make the following bid for the $67,115,000 aggregate principal amount of the County of New Hanover, North Carolina General Obligation School Bonds, Series 2018 (the 'Bonds'), described in said Notice of Sale, this bid being for not less than all of said Bonds: For the Bonds maturing on September 1 of the years and bearing interest as follows: Year of Principal Interest Year of Principal Interest Maturity Amount Rate Maturity Amount Rate 2019 $3,360,000 % 2029 $3,355,000 % 2020 3,360,000 % 2030 3,355,000 % 2021 3,360,000 % 2031 3,355,000 % 2022 3,355,000 % 2032 3,355,000 % 2023 3,355,000 % 2033 3,355,000 % 2024 3,355,000 % 2034 3,355,000 % 2025 3,355,000 % 2035 3,355,000 % 2026 3,355,000 % 2036 3,355,000 % 2027 3,355,000 % 2037 3,355,000 % 2028 3,355,000 % 2038 3,355,000 % we will pay $67,115,000 for said Bonds plus a premium of $ for all of said Bonds. We will accept delivery of the Bonds at The Depository Trust Company in accordance with said Notice of Sale. We will accept delivery of said bonds at The Depository Trust Company in accordance with the Notice of Sale. We understand that if notified that we are the successful bidder, we will be required to advise the County, the financial advisor and the Commission by telephone of the initial offering prices and yields to the public of each maturity of the bonds at the time of such notification and, within 30 minutes, to confirm that information by facsimile transmission (919- 855 - 5812). 12 Board of Commissioners - September 4, 2018 ITEM: 3 -2-12 One of the following two paragraphs must be checked and completed as appropriate: ( ) We enclose herewith a check for $1,342,300, as required by said Notice of Sale, payable unconditionally to the order of the State Treasurer of North Carolina, which check is to be returned to us if this bid is not accepted, but otherwise is to be applied in accordance with said Notice of Sale. If this bid is the successful bid, then said check will be cashed in accordance with the terms of the Notice of Sale. Otherwise, said good faith deposit is to be returned to the undersigned. ( ) A good faith deposit of $1,342,300 is not enclosed, but will be delivered to the State Treasurer of North Carolina by wire transfer by 2:00 P.M. on the date hereof if the undersigned is the successful bidder for the Bonds in accordance with the terms of the Notice of Sale. Said good faith deposit is to be applied in accordance with the terms of the Notice of Sale. The closing papers referred to in said Notice of Sale are to include a certificate, dated as of the day of the delivery of the Bonds, stating that there is no litigation pending or, to the knowledge of the signers of such certificate, threatened affecting the validity of the Bonds. (Name) (Firm) (No addition or alteration, except as provided above, is to be made to this bid, which may be de- tached from the annexed Notice of Sale. The Bidder may enter his calculation of true interest cost to be %. This information is neither required nor to be construed as apart of the foregoing bid.) 13 Board of Commissioners - September 4, 2018 ITEM: 3 -2-13 Ratings: Moody's: Aaa S &P: AAA (See "Ratings" herein) PRELIMINARY OFFICIAL STATEMENT DATED SEPTEMBER , 2018 ro o NEW ISSUE — Book -Entry Only y U This Official Statement has been prepared by the Local Government Commission of North Carolina and the County of New Hanover, m North Carolina (the "County') to provide information in connection with the sale and issuance of the Bonds described herein. t w w Selected information is presented on this cover page for the convenience of the user. To make an informed decision regarding the o Bonds, a prospective investor should read this Official Statement in its entirety. Unless indicated, capitalized terms used on this cover page have the meanings given in this Official Statement. a $67,115,000* F County of New Hanover, North Carolina General Obligation School Bonds, Series 2018 b .� .0 Dated: Date of Delivery Due: As shown on inside cover page .� y .� 0 0 Tax Exemption In the opinion of Parker Poe Adams & Bernstein LLP, Bond Counsel, o x under existing law, (1) assuming compliance by the County with certain requirements of the Internal Revenue Code of 1986, as �D amended (the "Code "), interest on the Bonds (a) is excludable from ° o o gross income for federal income tax purposes, and (b) is not an item of y w a tax preference for purposes of the federal alternative minimum tax, 3 and (2) interest on the Bonds is exempt from State of North Carolina w •y income taxation. See "TAX TREATMENT" herein. Redemption The Bonds are subject to optional redemption at the times and price y set forth herein. Security The Bonds constitute general obligations of the County, secured by a o pledge of the faith and credit and taxing power of the County. :JZ Interest Payment Dates March 1 and September 1, commencing March 1, 2019. ow Denominations $5,000 or any integral multiple thereof. rom° 0"! Expected Closing /Settlement October 18, 2018. o ° ° 'd .y Bond Counsel Parker Poe Adams & Bernstein LLP, Raleigh North Carolina. 0 0 o0 , Financial Advisor First Tryon Advisors, Charlotte, North Carolina. o w Sale Date October 2, 2018. U U � o 8 a Sale of Bonds Pursuant to sealed bids in accordance with the Notice of Sale. o : The date of this Official Statement is October 2018 F o v o *Preliminary; subject to change Board of Commissioners - September 4, 2018 ITEM: 3 - 3 - 1 MATURITY SCHEDULE* General Obligation School Bonds, Series 2018 Due September 1 of the Year Indicated Year of Principal Interest Maturitv Amount Rate Yield 1 2019 $3,360,000 % % 2020 3,360,000 2021 3,360,000 2022 3,355,000 2023 3,355,000 2024 3,355,000 2025 3,355,000 2026 3,355,000 2027 3,355,000 2028 3,355,000 Year of Principal Interest Maturitv Amount Rate 2029 $3,350,000 % 2030 3,350,000 2031 3,350,000 2032 3,350,000 2033 3,350,000 2034 3,350,000 2035 3,350,000 2036 3,350,000 2037 3,350,000 2038 3,350,000 *Preliminary; Subject to change. 'Information obtained from the underwriters of the Bonds. Board of Commissioners - September 4, 2018 ITEM: 3 - 3 - 2 Yield 1 COUNTY OF NEW HANOVER, NORTH CAROLINA Board of Commissioners WoodyWhite ........................................................................... ............................... SkipWatkins ........................................................................... ............................... Chris Coudriet ................ Lisa Wurtzbacher ........... Wanda M. Copley, Esq... Jonathan Barfield, Jr. Patricia Kusek Rob Zapple County Staff Financial Advisor First Tryon Advisors Charlotte, North Carolina Bond Counsel ....................... Chairman ............... Vice - Chairman ............................... County Manager ..................... Chief Financial Officer ............................... County Attorney Parker Poe Adams & Bernstein LLP Raleigh, North Carolina i Board of Commissioners - September 4, 2018 ITEM: 3 - 3 - 3 TABLE OF CONTENTS Page Introduction.................................................................................................................. ............................... 1 The Local Government Commission Of North Carolina ............................................ ............................... 1 TheBonds ...................................................................................................................... ............................... 1 Description................................................................................................................. ............................... 1 RedemptionProvisions ............................................................................................. ............................... 2 Authorizations and Purposes ................................................................................... ............................... 2 Security...................................................................................................................... ............................... 2 Bankruptcy................................................................................................................ ............................... 2 TheCounty .................................................................................................................... ............................... 3 GeneralDescription .................................................................................................. ............................... 3 DemographicCharacteristics ..................................................................................... ............................... Business and Economic Profile .................................................................................. ............................... EconomicData ............................................................................................................. ............................... Employment................................................................................................................ ............................... Government and Major Services ................................................................................ ............................... Government Structure ............................................................................................ ............................... Education................................................................................................................. ............................... Transportation......................................................................................................... ............................... HumanServices ....................................................................................................... ............................... PublicService Enterprises ...................................................................................... ............................... SolidWaste .............................................................................................................. ............................... DebtInformation ......................................................................................................... ............................... LegalDebt Limit ..................................................................................................... ............................... Outstanding General Obligation Debt ................................................................... ............................... GeneralObligation Debt Ratios ............................................................................. ............................... General Obligation Debt Service Requirements ................................................... ............................... General Obligation Bonds Authorized And Unissued .......................................... ............................... General Obligation Debt Information For Underlying Units As Of June 30, 2018 ............................ OtherLong -Term Commitments ............................................................................ ............................... DebtOutlook ............................................................................................................ ............................... TaxInformation .......................................................................................................... ............................... GeneralInformation ................................................................................................ ............................... TaxCollections ........................................................................................................ ............................... Ten Largest Taxpayers for Fiscal Year 2017- 18 ....................................................... ............................... Budget Commentary and Budget Outlook ................................................................ ............................... PensionPlans .............................................................................................................. ............................... Other Post - Employment Benefits .............................................................................. ............................... Litigation..................................................................................................................... ............................... ContinuingDisclosure .................................................................................................... ............................... TaxTreatment ................................................................................................................ ............................... FinancialAdvisor ............................................................................................................ ............................... Ratings............................................................................................................................ ............................... Underwriting.................................................................................................................. ............................... Miscellaneous.............................................................................................................. ............................... Appendices A— The North Carolina Local Government Commission ............................. ............................A -1 B — Certain Constitutional, Statutory, and Administrative Provisions Governing or Relevant to the Incurrence of General Obligation Bonded Indebtedness by Units of Local Government of the State of North Carolina ....................................... ............................... B -1 C — Management Discussion and Analysis .................................................... ............................... C -1 D— Financial Information ............................................................................. ............................... D -1 E — Proposed Form of Legal Opinion ............................................................. ............................... E -1 F— Book -Entry System ................................................................................... ............................... F -1 11 Board of Commissioners - September 4, 2018 ITEM: 3 - 3 - 4 STATE TREASURER OF NORTH CAROLINA NORTH CAROLINA DALE R. FOLWELL, CPA (8 DEPARTMENT OF STATE TREASURER / ow STATE AND LOCAL GOVERNMENT FINANCE DIVISION GREGORY C. GASKINS AND THE LOCAL GOVERNMENT COMMISSION DEPUTYTREASUMIL INTRODUCTION This Official Statement, including the cover page and the appendices, is intended to furnish information in connection with the public invitation for bids for the purchase of $67,115,000* General Obligation School Bonds, Series 2018 (the "Bonds "), of the County of New Hanover, North Carolina (the "County"). The information furnished herein includes a brief description of the County and its economic condition, government, debt management, tax structure, financial operations, budget, pension plans and contingent liabilities. The County has assisted the Local Government Commission of North Carolina (the "Commission ") in gathering and assembling the information contained herein. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy any securities other than the Bonds offered hereby, nor shall there be any offer or solicitation of such offer or sale of the Bonds in any jurisdiction in which it is unlawful for any person to make such offer, solicitation or sale. Neither the delivery of this Official Statement nor the sale of any of the Bonds implies that the information herein is correct as of any date subsequent to the date hereof. The information contained herein is subject to change after the date of this Official Statement, and this Official Statement speaks only as of its date. This Official Statement is deemed to be a final official statement with respect to the Bonds within the meaning of Rule 15c2 -12 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended (the "Rule "), except when it is in preliminary form, for the omission of certain pricing and other information to be made available by the successful bidder or bidders for the bonds by the Commission. In accordance with the requirements of the Rule, the County has agreed in a resolution adopted by the Board of Commissioners of the County to certain continuing disclosure obligations. See the caption "Continuing Disclosure" herein. THE LOCAL GOVERNMENT COMMISSION OF NORTH CAROLINA The Commission, a division of the Department of State Treasurer, State of North Carolina (the "State "), is a State agency that supervises the issuance of the bonded indebtedness of all units of local government and assists these units in the area of fiscal management. Appendix A to this Official Statement contains additional information concerning the Commission and its functions. THE BONDS Description The Bonds will be dated the date of their delivery and will bear interest from that date. Interest on the Bonds will be payable on each March 1 and September 1, commencing March 1, 2019. Subject to the redemption provisions set forth herein, the Bonds will mature on the dates and in the amounts set forth on the inside cover page of this Official Statement. *Preliminary; subject to change. Board of Commissioners - September 4, 2018 ITEM: 3 - 3 - 5 The Bonds will be issuable as fully registered bonds in a book -entry system maintained by The Depository Trust Company, New York, New York ( "DTC "). DTC will act as securities depository for the Bonds. Purchases and transfers of the Bonds may be made only in authorized denominations of $5,000 and in accordance with the practices and procedures of DTC. See Appendix F hereto for a description of the book -entry system and DTC. Redemption Provisions The Bonds maturing on or before September 1, 2028 will not be subject to redemption prior to their maturities. The Bonds maturing on or after September 1, 2029 will be subject to redemption prior to their maturities at the option of the County, from any money that may be made available for such purpose, either in whole or in part on any date on or after September 1, 2028 at a redemption price of the principal amount of Bonds to be so redeemed, plus interest accrued to the redemption date. If less than all of the Bonds of any one maturity shall be called for redemption, the particular Bonds or portions of Bonds of such maturity to be redeemed shall be selected in such manner as the County may determine; provided, however, that the portion of any Bond to be redeemed shall be in the principal amount of $5,000 or some multiple thereof and that, in selecting Bonds for redemption, each Bond shall be considered as representing that number of Bonds which is obtained by dividing the principal amount of such Bond by $5,000. So long as a book -entry system with DTC is used for determining beneficial ownership of Bonds, if less than all of the Bonds within a maturity are to be redeemed, DTC and its participants shall determine which of the Bonds within a maturity are to be redeemed. Notice of redemption shall be given by certified or registered mail to DTC or its nominee as the registered owner of the Bonds. Such notice shall be mailed not more than 60 days nor less than 30 days prior to the date fixed for redemption. The County will not be responsible for mailing notices of redemption to anyone other than DTC or its nominee. Authorizations and Purposes The Bonds are being issued pursuant to The Local Government Finance Act and a bond order adopted by the Board of Commissioners of the County on August 11, 2014, which Bonds were approved by voters at a referendum held on November 4, 2014; and a bond resolution adopted by the Board of Commissioners of the County on September 4, 2018. The Bonds are being issued to provide funds, together with other available funds, for construction of and improvements to school facilities in the County. Security The Bonds are general obligations of the County. The County is authorized by law to levy on all property taxable by the County such ad valorem taxes as may be necessary to pay the Bonds and the interest thereon without limitation as to rate or amount. Bankruptcy The County is a unit of state government and therefore is not subject to the involuntary procedures of Title 11 of the United States Code (the "Bankruptcy Code "). Pursuant to Chapter 9 of the Bankruptcy Code, a local governmental unit that satisfies the requirements of section 109(c) of the Bankruptcy Code may seek voluntary protection from its creditors for purposes of adjusting its debts. However, under North Carolina law, a local governmental unit such as the County may not file for bankruptcy protection without the consent of the Commission. While the Bonds are outstanding, the provisions of the Bankruptcy Code and applicable North Carolina law may be amended, supplemented or repealed; therefore, it is not possible to predict whether and under what conditions the County may 2 Board of Commissioners - September 4, 2018 ITEM: 3 - 3 - 6 be authorized to become a debtor in a bankruptcy case and how any such bankruptcy case might affect purchasers of the Bonds in the future. If the County were to initiate bankruptcy proceedings under Chapter 9 with the consent of the Commission, the bankruptcy proceedings could have material and adverse effects on holders of the Bonds, including (a) the application of the automatic stay provisions of the Bankruptcy Code, which, until relief is granted, would prevent collection of payments from the County or the commencement of any judicial or other action for the purpose of recovering or collecting a claim against the County; (b) the incurrence of additional debt, including the claims of those supplying goods and services to the County after the initiation of bankruptcy proceedings and the expenses of administering the bankruptcy case, which may have a priority of payment superior to that of the purchasers of the Bonds; and (c) the possibility of the adoption of a plan for the adjustment of the County's debt without the consent of all of the purchasers of the Bonds, which plan may restructure, delay, compromise or reduce the amount of the claim of the purchasers of the Bonds if the bankruptcy court finds that such a plan is fair and equitable. The effect of the provisions of the Bankruptcy Code on the rights and remedies of the purchasers of the Bonds cannot be predicted with certainty and may be affected significantly by judicial interpretation, general principles of equity, and considerations of public policy. Regardless of any specific adverse determinations in a bankruptcy case of the County, the fact of such a bankruptcy case could have an adverse effect on the liquidity and value of the Bonds. THE COUNTY General Description The County is located in the tidewater section of southeastern North Carolina, set between the Atlantic Ocean and the Cape Fear River. The surrounding terrain is low lying, with an average elevation of less than 40 feet above sea level, with the highest elevation being approximately 75 feet above sea level. The County's land area totals approximately 220 square miles. Of this total, 21 square miles consist of water and wetlands. The County is the second smallest in land area and the sixth most densely populated county in the State of North Carolina (the "State "). The City of Wilmington (the "City ") is the County seat and the County's largest population center. Other population centers in the County include the towns of Wrightsville Beach, Carolina Beach and Kure Beach. The County's beaches provide miles of unspoiled natural beauty and are the area's most popular tourist attractions. The County is the eastern terminus of Interstate Highway 40, a transcontinental route ending in Barstow, California. Demographic Characteristics The United States Department of Commerce, Bureau of the Census, has recorded the population of the County to be as follows: 1990 2000 2010 120,284 160,307 202,681 The North Carolina Office of State Budget and Management has estimated the population of the County to be as follows: 2012 2013 2014 209,846 213,809 216,955 3 2015 2016 220,108 232,260 Board of Commissioners - September 4, 2018 ITEM: 3 - 3 - 7 Per capita income figures for the County and the State are presented in the following table: YEAR COUNTY STATE U.S. 2012 $ 36,059 $ 38,600 $ 44,282 2013 36,677 37,813 44,493 2014 39,415 39,558 46,494 2015 41,324 41,378 48,451 2016 42,262 42,244 49,246 Source: United States Department of Commerce, Bureau of Economic Analysis — As of November 2017. Business and Economic Profile The County is a commercial center in southeastern North Carolina and its economic profile consists of a diverse mixture of education, healthcare, manufacturing and service industries. The area's commercial and industrial base is diversified, with a mix of local, regional, national and international companies. Local industries are involved in a range of operations from simple assembly to advanced manufacturing processes producing products such as synthetic fibers, fiber optics, nuclear fuel and jet engine components. Higher Education. The two institutions of higher education located in the County are the University of North Carolina at Wilmington and Cape Fear Community College. The University of North Carolina at Wilmington ( "UNCW'), was founded as Wilmington College in 1947 and designated a university in 1969. UNCW, located between the Cape Fear River and the Atlantic Ocean, is the only public university in southeastern North Carolina. The University offers 54 undergraduate degree programs, 34 master's degree programs and four doctoral degrees. The fall 2017 enrollment estimate for undergraduate and graduate students was over 16,000. UNCW was once again featured in the Fiske Guide to Colleges, the most authoritative source of information for college -bound students and their parents. The guide features more than 300 of the "best and most interesting" schools in the U.S., Canada, Great Britain and Ireland. UNCW has routinely been featured in the guide, most recently in the 2018, 2017 and 2015 editions. UNCW was also recently recognized by numerous rankings organizations. U. S. News and World Report ranked UNCW 6th among public universities and 14th in the South on its list of Best Regional Universities (South). The university was named a Best Southeastern School in the Princeton Review's list of "2018 Best Colleges: Region by Region." Also located in the County, Cape Fear Community College ( "CFCC "), was founded in 1958 and is the sixth largest school in the North Carolina Community College System. The school is a major economic development partner in southeastern North Carolina. CFCC provides world -class training and quality higher education to more than 23,000 students each year. CFCC has more than 60 technical degree programs in a wide range of areas which offer hand -on training. In November 2008, voters passed a $164 million Community College Bond referendum, all of which have been issued, to provide CFCC with funding to expand its facilities to include Union Station, a parking deck, a Humanities and Fine Arts Building and an Advanced and Emerging Technologies Center. Union Station, which opened in August 2013, is a 259,000 square -foot building that includes classrooms and labs for health sciences programs, general classrooms, biology labs, student services, admissions and a large reception hall for college and community events. The Hanover parking deck 0 Board of Commissioners - September 4, 2018 ITEM: 3 - 3 - 8 was completed in March 2012 and added 1,186 parking spaces to the downtown parking inventory. The Humanities and Fine Arts Building, which opened in 2015, is a state of the art center for humanities and fine arts programs, as well as serving as an additional venue for cultural events in the County. The Center is a powerful investment in the arts for current and future students, and for the community. Construction of the Advanced and Emerging Technologies Center commenced in August 2015 and was opened in June 2017. It is comprised of three buildings: a 74,000 square -foot technology building, a 30,000 square -foot space for the college's diesel and heavy equipment program, and 23,000 square feet for a brand new veterinary tech program, only the fifth such program in the State. In addition to bond proceeds from the $164 million referendum, the County has made the following capital contributions to CFCC: $10,864,634 in fiscal year 2017 and $ 10,862,177 in fiscal year 2018, with $10,852,593 budgeted in fiscal year 2019. Healthcare and Medical Facilities. New Hanover Regional Medical Center is a nonprofit corporation that operates a network of hospital and health care related facilities and services, located in the City (hereinafter collectively referred to as the "Health Care System'). The Health Care System, includes a tertiary referral health care center with 694 beds (the `Main Campus'), and the NHRMC Orthopedic Hospital with 75 licensed beds. The Health Care System is owned by the County and serves as the primary hospital for a three - county area, as well as a tertiary hospital for a seven county area. The Health Care System provides an emergency room with 24 -hour service, a 60 -bed rehabilitation hospital and a 62 -bed psychiatric hospital. The Health Care System has responsibility for emergency medical services in the County, including Air Ambulatory Service. Carolina Healthcare Associates, Inc. (doing business as NHRMC Physicians Group), incorporated in 1997 as a 501(c)(3) nonprofit corporation, is governed by New Hanover Regional Medical Center. Carolina Healthcare Associates provides an integrated primary and specialty care physician practice network to New Hanover Regional Medical Center in the form of physician and nurse practitioner services in hospital based clinics and independent offices throughout the New Hanover Regional Medical Center service area. In the late 1990's, Lower Cape Fear Hospice became an affiliated organization of New Hanover Regional Medical Center, but is not considered a part of the Health Care System. During fiscal year 1999, Pender Memorial Hospital, Inc. became an affiliated organization of New Hanover Regional Medical Center through a 20 -year operating agreement. Pender Memorial provides inpatient, outpatient, and emergency care services to the residents of Pender County and vicinity. During fiscal year 2008, the Health Care System completed construction on a new 194,995 square foot Women's and Children's Center and 196,804 square foot surgical pavilion. In 2011, the Health Care System completed a major facility improvement and expansion at its Main Campus, which included renovations to the patient tower. This capital improvement project resulted in the renovation of approximately 289,320 square feet of space. In 2015, the Health Care System opened a 30,000 square foot, stand -alone emergency department in the northern part of the County. In 2017, it completed a construction project to double its emergency department patient care areas at the Main Campus from 54 to 108 treatment areas. Also in 2017, it started the construction of a 134,000 square foot Orthopedic and Spine Hospital, which should be complete by 2019. In 2018, the Health Care System completed construction of a 5 -level parking deck with 720 parking spaces and a skybridge over South 17th Street, and renovations to the Zimmer Cancer Center and Intensive Care Unit. Funding for these capital improvement projects was from a combination of proceeds of tax - exempt bonds and accumulated reserves and was approved by the North Carolina Department of Health and Human Services under its certificate of need process. Manufacturing and Business Services. General Electric ("GE'), a longtime corporate resident of the County, has contributed significantly to the County's economic growth and its surrounding vicinities. GE Aviation's Castle Hayne plant manufactures jet engine parts that are used on commercial and military aircraft built by Boeing, Airbus and other airframe manufacturers. In 5 Board of Commissioners - September 4, 2018 ITEM: 3 - 3 - 9 2013 the County approved an incentive package for GE worth $175,000 per year for five consecutive years in which GE agreed to invest $63 million in new capital investment at the Castle Hayne plant. GE received the fifth incentive payment in 2017 as the company has met the prescribed capital investment and job creation goals each year. The State has also agreed to provide a series of incentive grants to GE Aviation. The plant has experienced a stable workforce of approximately 600 employees and has been awarded manufacturing positions on GE's next generation of commercial aircraft engines. Other GE ventures include General Electric — Hitachi Nuclear Energy which made $41 million in capital expenditures over a three -year period (2005 — 2008). GE Hitachi Global Laser Enrichment ( "GLY) is using the Australian Laser enrichment technology known as Separation of Isotopes by Laser Excitation to enrich natural UF6 gas in the uranium — 235 isotope at GLE's nuclear fuel fabrication facility in the County. In 2001, GE Energy, Toshiba and Hitachi formed a joint venture named Global Nuclear Fuel Americas, which is headquartered in the County. The joint venture combines the design, manufacturing and marketing operations of its parent companies to manufacture light -water nuclear reactor fuel. Pharmaceutical Product Development, Inc. ( "PPD ") maintains its worldwide headquarters in the County. PPD is a leading global contract research organization that provides comprehensive, integrated drug development, laboratory and life cycle management services. PPD's clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations. PPD applies innovative technologies, therapeutic expertise and a firm commitment to quality, to help clients and partners bend the cost and time curve of drug development to deliver life - changing therapies that improve health. The County and the City approved the execution and delivery of a business investment grant agreement in connection with the construction of a new PPD world headquarters facility in downtown Wilmington. The grant was contingent on the construction of a facility with a direct investment of $80 million and an increase in the local workforce of 1,000 additional jobs commencing in the sixth year following the year in which the occupancy date occurs. PPD received the last of the five incentive payments in October 2017. Occupancy of the headquarters building and an adjacent parking structure occurred in 2009. PPD employs approximately 1,500 individuals in the City out of a global workforce of 20,000 people in more than 47 countries. Corning Incorporated operates an optical fiber plant in the County and employs approximately 1,000 people. Corning invented the first commercially viable low -loss optical fiber in 1970 and continues to be the global market leader in the industry. Corning offers a full line of single -mode and multi -mode fibers for all network applications. In 2011, Corning introduced SMF- 28e + ®LL optical fiber, a fiber that extends network distances for long -haul, metro, and access applications. In 2012, Corning introduced C1earCurve8VSDN8 optical fiber, a new ultra - bendable optical fiber for consumer electronics. In 2013, Corning introduced SMF -280 Ultra optical fiber, and enhanced single -mode optical fiber for improved performance in long -haul, metro, access, and FTTH networks. Fortron Industries is a joint venture between Ticona and Kureha Corporation. Fortron Industries uses polyphenylene sulfide (PPS) production technology that incorporates Kureha's advanced environmentally friendly "one unit" process as well as Ticona's sales, marketing, distribution, compounding and polymer manufacturing expertise. The Fortron linear polyphenylene sulfide (PPS) plant is the world's largest PPS operation with a nameplate capacity of 15,000 metric tons per year. In 2012, the state -of- the -art plant set a new production record, positioning it to satisfy the robust global demand in electrical and electronics automotive, and industrial applications for Fortron polyphenylene sulfide. The year 2012 also marked Fortron Industries 20th anniversary in the County. The County has approved $500,000 worth of incentives, contingent on Fortron making a $50 million investment in capital improvements to its County facility and retaining its 60 full -time jobs 6 Board of Commissioners - September 4, 2018 ITEM: 3 - 3 - 10 and 40 contract positions. This is Fortron's second incentive package from the County. The County paid $1.75 million between 2008 and 2010 in exchange for an $80 million expansion. That expansion doubled the company's manufacturing capacity. Castle Branch, one of the top 10 background screening and compliance tracking solutions companies in the nation, completed construction of an $8 million, 54,000 square feet headquarters building in April 2014. The County approved a $250,000 economic incentive grant, which was contingent upon Castle Branch completing construction of the headquarters office building and hiring 400 new full -time employees in addition to the current staffing of 200 employees. In October 2015, Castle Branch received its first annual installment of the grant. The City has also approved an appropriation of $250,000 in economic incentives for Castle Branch. National Gypsum Company is a privately -held company and is the nation's second largest producer of gypsum wallboard, and a leading supplier of interior finishing products and cement board to buyers in the construction industry. National Gypsum operated its New Hanover County facility from 1979 through 2009, when the global financial meltdown dramatically slowed residential and commercial construction, forcing National Gypsum to idle its facility in the County. In May, National Gypsum announced that it will re -open the production facility in New Hanover County, investing $25 million over the next five years in new infrastructure and equipment, and creating at least 51 jobs. The plant will support the company's production of specialty gypsum board including its family of PURPLED mold- and moisture - resistant products. Much of National Gypsum's finished product will be shipped via rail, therefore, the investment in the County location includes construction of a new rail spur to the plant. New Hanover County has approved a performance -based incentive of $350,000 over the next five years. The City of Wilmington has also approved an incentive of up to $230,000 over the next five years. The County has partnered with the Cape Fear Public Utility Authority to bring water and sewer infrastructure to a largely industrial section of the County along the 421 corridor. This project will aid in making sites in the area more attractive to businesses which will lead to increased businesses in the area, thus increasing quality jobs and the overall County tax base. Construction of this project is anticipated to begin in 2018 and be completed by fiscal year 2020. Real Estate Development. The Mayfaire mixed use development ( "Mayfaire ") commenced construction in 2004. Mayfaire includes more than 400 acres and has a wide range of residential, retail, and office development with 140 acres of open space and an estimated cost of $400 million. In May 2004, the Town Center portion of the project opened with more than 386,000 square feet of restaurant and retail space. In September 2007, portions of Phase II and an 80,000 square foot grocery- anchored retail center opened, bringing the total to more than 650,000 square -feet of retail, restaurant and hotel space. Recent additions to Mayfaire include a 100,000 square foot addition to the Community Center portion of Mayfaire anchored by Dicks Sporting Goods. Recently completed was the construction of eight additional retail spaces in the Town Center portion ranging in size from 2,500 square feet to a two - story, 29,000 square -foot building with tenants such as H &M, Palmetto Moon and Sola Salon. Recent years have also seen an increase in office development with more than 105,000 square feet of new office buildings constructed. These new buildings are fully occupied. Mayfaire also boasts a wide range of residential units, with 84 condominiums in mixed use buildings, 212 free - standing condominiums, more than 100 single family detached homes in a neo- traditional setting and a for -rent apartment component. Another mixed use development known as "Autumn Hall" commenced development in 2007. The total development is estimated to have a value of $420 million and is expected to be complete by 2022. The development includes more than 200 acres and has been master - planned to accommodate a wide range of residential, retail and office development, to include 172 single - family residential lots, 7 Board of Commissioners - September 4, 2018 ITEM: 3 - 3 - 11 403,000 square -feet of retail space, 355,000 square -feet of office space, a 135 -room hotel and 51 acres of common /open space. Approximately 178 single - family home sites and 120 homes have been constructed to date. A 40,000 square -foot medical office facility was completed in 2008 and is occupied by the New Hanover Regional Medical Center. In 2012 "Headwaters" at Autumn Hall, a 286 -unit apartment complex situated on a 14 -acre site was completed and currently has an occupancy rate of over 98 %. In late 2015, "Carolina Bay" at Autumn Hall, a continuing care retirement community, opened and is owned and operated by Liberty Healthcare. Carolina Bay represents a significant investment in the Autumn Hall project by Liberty Healthcare and will offer rental and ownership options for the more than 350 future residents. A 24,488 SF Class A Office building (Dungannon Village) was completed in May 2017 and is currently fully leased. River Bluffs is a new gated coastal village and river club community located in the Castle Hayne area of the County. Amenities include 3,000 feet of navigable river frontage, a 141 -slip Marina, a 10,000 square foot River Club, a Riverwalk, multiple parks, a general store and community post office. River Bluffs encompasses 313 acres with approximately 600 approved home sites and is being developed on a philosophy of sustainability and environmental preservation. It will be the area leader in innovative low- impact development techniques. The developers of River Bluffs are ensuring that more than a third of the historic land be permanently preserved as open space, trails and parks. The total cost of River Bluffs is estimated to be $292,000,000 and is expected to be completed in 2025. Site work began in 2013 on the infrastructure and the first phase of 138 homes sites. Certificates of occupancy have been issued for the pool, fitness center, post office and the Cafe and Market. The Riverwalk, a 2,500 foot walkway that skirts the Northeast Cape Fear River, allows residents to bask in the natural beauty of the community while enjoying the outdoors, was completed in July. Another coastal community in the southern part of the County is RiverLights, situated along a 3 -mile stretch of the Cape Fear River. This 1,400 -acre river - oriented community is planned for approximately 2,700 homes, including a mix of townhomes, diverse single - family home options, an age - qualified neighborhood, a 30 -acre lake with lakeside amenity center, a mixed use commercial area, and an activated Marina Village featuring a 112 -slip marina and dockmaster, live -work opportunities, shops, restaurants, a boardwalk, a crab dock, event lawn, and miles of trails to connect from the river into the community's multiple neighborhoods. The community held its grand opening in December 2016 and full build out is estimated to be complete in seven to ten years. Tourism and Film Industry. Tourism is a vital part of the area's economic component in terms of employment and revenues. Nearby beaches, the historic river front area, the USS North Carolina Battleship Memorial and the North Carolina Aquarium at Fort Fisher, are among the attractions for tourism business. A variety of special events held annually each year, such as the Azalea Festival and Riverfest, add to the area's appeal to tourists. The New Hanover County Tourism Development Authority ( "TDA') was established to expand the tourism industry and to maintain the health of the local economy. Funded in large part by a room occupancy tax, the TDA serves as an umbrella organization representing all of the services available to visitors. According to the TDA, tourism generated revenues within the County were approximately $554 million in 2016, which represents an increase of 6.42% over the previous year. For 2016, the County ranked eighth among North Carolina's 100 counties in tourism expenditures. An indicator of the level of tourism in the County is the room occupancy tax collections. The room occupancy tax is imposed on the rental of hotel rooms at a rate of 6 %. 8 Board of Commissioners - September 4, 2018 ITEM: 3 -3-12 The gross sales revenues on which this tax is imposed are shown in the following table: Fiscal Gross % Increase Year Revenues (Decrease) 2013 $ 146,743,957 3.71 2014 157,269,575 7.17 2015 171, 884,116 9.29 2016 184,406,107 7.29 2017 208,329,803 12.97 2018 215, 684, 328 3.53 Source: North Carolina Department of Commerce and TDA. The filmmaking industry has been an important economic force in the County since the construction of production facilities in 1983 by DEG Inc. Now owned by EUE Screen Gems Studios, the studio has nine fully equipped sound stages and one super stage. The super stage is 37,000 square feet of open floor space with a water tank holding 450 tons of water, setting this stage apart from any other on the East Coast. In an effort to attract the big production companies, local companies have invested in new equipment and state -of- the -art technology. The Studio has also invested in additional lighting and grip equipment to expand its capabilities. The County continues to be one of the most productive and cost - effective filmmaking destinations. Since 1983, the County has hosted more than 350 feature films, mini - series, and "movies of the week ", as well as eight television series, along with numerous commercials and music videos. Producers continue to utilize the available resources for filmmaking and it is expected that the studio will remain a popular facility in the State. Film and television productions decreased in 2015, due to reduced funding to the State's Film Grant Fund. .Approximately $40 million was spent in the region in 2017 by film and television productions. The State has stabilized the Film and Entertainment Grant Fund with recurring funding in the amount of $31 million annually. Currently, with unused funds rolled over from fiscal year 2018 the Fund contains approximately $60 million to be used to incentivize productions. Additionally, the State has removed the sunset from the program providing certainty for our clients in doing future business in the region. Shipping. The North Carolina State Port at Wilmington (the "State Port "), located on the east bank of the Cape Fear River, is one of two deep water harbors in the State. The Port of Wilmington is one of the few Southern ports with readily available berths and storage areas for containers and cargo. Specifically, it offers terminal facilities serving container, bulk, breakbulk, and roll on -roll off operations. It offers a deep 42 -foot navigational channel, nine berths with 6,768 feet of wharf frontage and four post - Panamax container cranes. Additionally, the port offers almost one million sq. ft. of prime covered and sprinklered storage, as well as 100+ acres of paved and 25 acres of enhanced open storage area. Modern transit and warehouse facilities and the latest in cargo management technology provide a broad platform for supporting international trade to the fast - growing southeast U.S. market. Imports and exports include chemicals, metal products, general merchandise, forest products, salt, wood pulp, wood chips, and food. All customs services, including a Classification and Value Section, are available. Foreign Trade Zone 66, with warehouses, assembly areas and 100 acres of open storage, is accessible by rail or truck, in addition the 42 ft. navigational channel offers customers additional vessel capacity. Port of Wilmington Cold Storage (PWCS), is a new, 101,000 square foot refrigerated warehouse used to maintain specific temperatures for the storage of perishable goods, such as fruits, vegetables and proteins. The warehouse, which opened in August 2016, is located within the gates of the Port of Wilmington and is not only the first in -port cold storage facility in North Carolina, but one of a select few such facilities in the entire nation. PWCS is a joint venture of USA InvestCo and the NC State Ports Authority. The total cost of the project was $17.5 million, which included pre- M Board of Commissioners - September 4, 2018 ITEM: 3 -3-13 development, construction and opening operating expenses. As part of its ongoing infrastructure investment plan, North Carolina Ports have installed two new neo- Panamax ship -to -shore cranes with a third crane arriving in 2019. Between the turning basin project, various berth improvements, the expansion of the container yard and the addition of new cranes, North Carolina Ports has committed over $200 million into its infrastructure improvements, which will enable shippers to gain unprecedented access to the East Coast. In FY 2018, the State Port reported a record 38% year -over- year growth in the number of containers moved through the Port and the Year - over -year general cargo growth was up 18 %. The State Port at Wilmington is operated by the North Carolina State Ports Authority. Economic Data The following table lists the major manufacturing and non - manufacturing establishments, service companies and institutions in the County: APPROXIMATE NUMBER OF COMPANY OR INSTITUTION PRODUCT OR SERVICE EMPLOYEES Manufacturing General Electric Company Corning, Inc. Non - Manufacturing New Hanover Health Network New Hanover County Board of Education Wal -Mart Stores The University of North Carolina at Wilmington Pharmaceutical Product Development New Hanover County Verizon Wireless City of Wilmington Cape Fear Community College Components and Fuel for Nuclear Production of Electricity and Jet Engine Components 3,000 Optical Wave Guides 1,000 Health Care 6,880 Public Education 4,476 Retail Sales 2,227 Higher Education 2,154 Pharmaceuticals Testing 1,500 County Government 1,726 Telecommunications -Call Centers 1,278 Municipal Government 1,067 Higher Education 612 Source: Greater Wilmington Business Journal 2018 Book on Business (released January, 2018); list is based on voluntary response to a Business Journal survey. Corning Inc. employs approximately 1,000 at its Wilmington plant, but does not disclose employment numbers by location citing competitive reasons. Large industries located outside but near the County, which are major employers of the County's residents, include International Paper Company (approximately 750 employees) and Duke Energy Progress— Brunswick Nuclear Plant (approximately 1,770 employees). 10 Board of Commissioners - September 4, 2018 ITEM: 3 -3-14 The following table illustrates building activity in the County for the five indicated fiscal years by reference to issued permits: NON- RESIDENTIAL TOTAL FISCAL YEAR ENDED NUMBER OF RESIDENTIAL VALUE VALUE VALUE JUNE 30 PERMITS (IN 000'S) (IN 000'S) (IN 000'S) 2014 22,828 $436,927 $267,197 $704,124 2015 22,986 450,390 129,310 579,700 2016 27,816 508,001 205,612 713,613 2017 24,425 574,432 281,994 856,426 2018 45,251 583,126 344,462 927,588 Source: Development Services Department /New Hanover County. The taxable sales for the fiscal years ended June 30, 2014 through 2018 are shown in the following table: FISCAL YEAR ENDED/ INCREASE ENDING JUNE 30 TOTAL TAXABLE SALES OVER PREVIOUS YEAR 2014 $3,384,965,474 4.0% 2015 3,757,376,202 11.0 2016 4,033,313,586 7.3 2017 4,391,502,592 8.9 2018 4,484,999,670 2.1 Source: North Carolina Department of Revenue, Sales and Use Tax Division. Employment The North Carolina Department of Commerce, Labor and Economic Analysis Division has estimated the rate of unemployment in the County as follows: The average unemployment rate for the County, State and United States were as follows: 2014 2015 2016 2017 2018 8.0% 2014 2015 2016 2017 2018 January 6.9% 5.8% 5.3% 4.9% 4.5% July 6.3% 5.8% 4.9% 4.3% N/A February 6.9% 5.7% 5.1% 4.7% 4.3% August 6.2% 5.5% 4.9% 4.4% N/A March 6.3% 5.3% 4.8% 4.1% 4.0% September 5.4% 5.1% 4.6% 3.8% April 5.5% 4.9% 4.4% 3.7% 3.4% October 5.2% 5.1% 4.6% 4.0% May 6.0% 5.5% 4.3% 3.9% 3.4% November 5.3% 5.2% 4.5% 4.2% June 6.1% 5.6% 4.8% 4.2% 3.9% December 5.0% 5.1% 4.5% 4.2% The average unemployment rate for the County, State and United States were as follows: 11 Board of Commissioners - September 4, 2018 ITEM: 3 -3-15 County State U.S. 2013 7.4% 8.0% 7.4% 2014 6.2% 6.3% 6.2% 2015 5.3% 5.8% 5.3% 2016 4.9% 5.1% 4.9% 2017 4.4% 4.6% 4.4% 11 Board of Commissioners - September 4, 2018 ITEM: 3 -3-15 Government and Major Services Government Structure. The County is governed by a Board of Commissioners (the "Board'). The Board consists of five members who are elected by a County -wide vote and serve four -year staggered terms. Partisan elections for the Board are held in November in even - numbered years. The Board takes office the first Monday in December following the November elections. At that time, the Board elects a chairman and vice chairman from among its members. The major duties of the Board include assessing and assigning priorities on the needs of the County and establishing programs and services to meet these needs, adopting an annual balanced budget, establishing the annual property tax rate, appointing various officials, including members of County boards and commissions and some County employees, regulating land use and zoning outside the jurisdiction of municipalities, enacting local ordinances and adopting policies concerning the operations of the County. The Board also has the authority to call bond referendums, enter into contracts and establish new programs. The Board appoints several officials to help carry out its responsibilities, including a County Manager, a County Attorney who serves as legal advisor to the Board and a Clerk to the Board who is responsible for keeping official Board records and preparing the official minutes of all Board meetings. The County Manager is the chief administrative officer of the County. The major duties of the County Manager include supervising and coordinating the activities of the County departments, executing all orders and policies set forth by the Board, attending all Board meetings, making recommendations on appropriate matters of business, recommending an annual budget, advising the Board of the financial condition of the County, representing the County in business with other agencies and performing other duties assigned by the Board. To assist him in the performance of his duties, the County Manager has a staff which includes assistant managers, department heads and administrative assistants. Education. The New Hanover County School System (the "School System ") with jurisdiction throughout the County is governed by a seven - member Board of Education (the "Board of Education "). The Board of Education is elected for four -year staggered terms. The State provides funds for a basic education program for each school system in the State. Funds are also provided by the State for capital construction through the Public Schools Building Capital Fund. In addition to the State funds, the County contributes funds to the School System out of the General Fund. Designated portions of two local option one -half cent sales taxes must be used for school capital outlay expenditures or the retirement of bonded indebtedness incurred for these purposes. In the fiscal year ended June 30, 2016, the State provided the school system with approximately 61% of its operating budget and the federal government provided approximately 8 %. The balance of 31% was provided by the County and other local sources. For the fiscal year ended June 30, 2017, the State provided 59% of the County's operating budget and the federal government provided approximately 7 %. The balance of 34% was provided by the County and other local sources. 12 Board of Commissioners - September 4, 2018 ITEM: 3 -3-16 The amounts contributed by the County for operating expenses and capital outlay from both the General Fund and a designated sales tax for the five fiscal years and first ten months of fiscal year ended June 30, 2018 indicated are shown below: FISCAL YEAR DESIGNATED ONE -HALF CENT ENDED JUNE 30 GENERAL FUND SALES TAX TOTAL INTERMEDIATE GRADES 6 -8 GRADES 9 -12 2013 $73,238,970 $9,884,184 $83,123,154 2014 75,339,280 10,185,698 85,524,978 2015 77,233,990 11,181,297 88,415,287 2016 81,373,573 11,877,279 93,250,852 2017 62,590,529 12,504,354 75,094,883 2018 (10 53,392,057 11,035,204 64,427,261 months)' 12,400 8 5,542 I For the 10 month period ended April 30, 2017, the designated sales tax totaled $10,171,470. The following table illustrates the number of schools in the system and average daily membership for the five indicated years: 'ADM or average daily membership, determined by actual records at the schools is computed by the North Carolina Department of Public Instruction on a uniform basis for all public school units in the State. The ADM computations are used as a basis for teacher allotments. The school information does not include alternative schools. 22016 -17 Enrollment numbers have been changed to reflect the final enrollment for FY16 -17. 32018 ADM based on "Best 1 of 2 Average" posted 07/11/18. Source: New Hanover County Board of Education, Finance Office, Comprehensive Annual Financial Report for fiscal years 2014 -2017, North Carolina Department of Public Instruction. Transportation The Road System. The maintenance, expansion, and improvement of primary and secondary highways within the County are the responsibility of the State. Each municipality within the County bears responsibility for its local street system. The County has no financial obligations with respect to construction and maintenance of the road system. The County is served by Interstate Highway 40, U.S. Highways, 17, 117, 74, 76 and 421, and by North Carolina Highways 132 and 133. Interstate 95 intersects with Interstate 40 northwest of the County, connecting north -south and east -west traffic. Interstate Highway 140 extends from I -40 to US 17 to the south in neighboring Brunswick County. A new section from U.S. 421 north of Wilmington connecting with US 74 -76 in near Leland in neighboring Brunswick County was opened 13 Board of Commissioners - September 4, 2018 ITEM: 3 -3-17 SECONDARY SCHOOL YEAR ELEMENTARY GRADES K -5 INTERMEDIATE GRADES 6 -8 GRADES 9 -12 No. ADM1 No. ADM' No. ADMI 2013 -14 24 12,094 8 5,819 6 7,386 2014 -15 25 12,234 8 5,734 6 7,699 2015 -16 25 12,422 8 5,539 6 7,940 2016 -1724 26 12,400 8 5,542 6 8,154 2017 -1834 26 12,311 8 5,580 7 7,982 'ADM or average daily membership, determined by actual records at the schools is computed by the North Carolina Department of Public Instruction on a uniform basis for all public school units in the State. The ADM computations are used as a basis for teacher allotments. The school information does not include alternative schools. 22016 -17 Enrollment numbers have been changed to reflect the final enrollment for FY16 -17. 32018 ADM based on "Best 1 of 2 Average" posted 07/11/18. Source: New Hanover County Board of Education, Finance Office, Comprehensive Annual Financial Report for fiscal years 2014 -2017, North Carolina Department of Public Instruction. Transportation The Road System. The maintenance, expansion, and improvement of primary and secondary highways within the County are the responsibility of the State. Each municipality within the County bears responsibility for its local street system. The County has no financial obligations with respect to construction and maintenance of the road system. The County is served by Interstate Highway 40, U.S. Highways, 17, 117, 74, 76 and 421, and by North Carolina Highways 132 and 133. Interstate 95 intersects with Interstate 40 northwest of the County, connecting north -south and east -west traffic. Interstate Highway 140 extends from I -40 to US 17 to the south in neighboring Brunswick County. A new section from U.S. 421 north of Wilmington connecting with US 74 -76 in near Leland in neighboring Brunswick County was opened 13 Board of Commissioners - September 4, 2018 ITEM: 3 -3-17 to traffic in November 2017, which improved traffic from downtown Wilmington into Brunswick County. Wilmington International Airport. The Wilmington International Airport (the `Airport') is a County -owned facility operated by the New Hanover County Airport Authority (the "Airport Authority "). The Airport is the fifth largest in the State and served a record 836,589 passengers during calendar year 2017 with 57,814 total aircraft operations. Three commercial airlines, American Airlines, United Airlines and Delta Air Lines, provide regular jet and commuter service with 24 daily flights, offering direct (non -stop) service to Atlanta, Charlotte, Chicago, New York, Philadelphia and Washington, D.C. and one -stop connections to 388 domestic and international destinations. Within the last fifteen years, the Airport has undergone approximately $125 million in capital improvements, which include a 13,500 square -foot International Terminal Building that provides customs services, and a $6.5 million state -of- the -art rental car service complex. In 2016, Air Wilmington completed construction on a 21,000 square foot hangar. The Airport Authority redeveloped the former car rental service centers for conversion to airside facilities for corporate and general aviation hangars and service providers. The Airport installed an $800,000 hangar taxilane and Live Oak Bank completed construction of a 23,000 square foot corporate hangar facility in this area. The entire north ramp rehabilitation project was completed at an estimated cost of $14 million. On the landside of the Airport, the Airport Authority continues to focus on non - aeronautical revenue in order to reduce the dependency on airline rates and charges. The Airport's Business Park consists of land and buildings for lease to non - aeronautical companies. Currently, 1.4 million square feet of land and 39,000 square feet of building space is leased, which includes land leased for the Veterans Affairs Outpatient Clinic. A 10,000 square foot building completed in 2016, is currently occupied by three tenants The State Port. The State Port, one of four State ports, is located on the east bank of the Cape Fear River and is one of two deep water harbors in the State. For more information about the State Port see "Business and Economic Profile — Shipping" herein. Ground Based Freight and Mass Transit. Other transportation resources in the County include the CSX Rail Transport Group, which provides rail freight service in the area with one scheduled train daily. Local bus service is provided by the Cape Fear Public Transportation Authority, which is governed by an eleven- member board with five members appointed by the Wilmington City Council, five members appointed by the County Board of Commissioners and one member appointed by the other members of the board. A private management firm operates a system of ten routes, UNCW Shuttle service and a historic downtown trolley. There are also approximately 55 trucking companies serving the area. Human Services Human services programs in the State are financed by a combination of federal, State and local funds. On the County level, these services are classified as public assistance, public health, senior resource services, veterans' services and mental health. The County had actual expenditures from the combined sources of $58,259,230 in fiscal year 2017. For fiscal year 2018 the County appropriated $60,847,780, for human services. 14 Board of Commissioners - September 4, 2018 ITEM: 3 -3-18 Public Service Enterprises In May 2007, the City Council of Wilmington and the County Board of Commissioners each adopted resolutions creating a water and sewer authority to consolidate the City's, the New Hanover County Water and Sewer District's (the `District') and the County's water and sewer systems. The articles of incorporation for the Cape Fear Public Utility Authority (the `Authority') were approved by the State of North Carolina on July 2, 2007. Transfer of water and sewer assets and liabilities of the City, the County and District to the Authority was completed on July 1, 2008. In addition, all City and County water and sewer system employees were transferred to the Authority on July 1, 2008. The water and sewer system assets and liabilities of the City, the County and the District were leased, transferred or assigned to the Authority, to the extent permitted under existing financing documentation and law. While the City, the County and the District remain as ultimate obligors on some of their existing bond or installment financings, the Authority reimburses each of the City, the County and the District for debt service payments made pursuant to an interlocal arrangement approved by the City, the County and the District. The Authority's mission is to provide water and sewer service to the County's existing 36,000 customers as well as City residents. Solid Waste Solid Waste Collection. In the unincorporated areas of the County, municipal solid waste (MSW) is collected by private haulers on a subscription basis. Each hauler conducting business in the County is required to obtain a franchise license from the County. In the incorporated areas of the County, MSW and recyclable material collection as discussed below, is either provided by the municipality or is contracted to private waste haulers. Solid Waste Disposal. The County currently owns and operates a lined landfill that meets or exceeds federal and state requirements. The facility only accepts waste generated within the County and is open six days a week. All wastewater ( "leachate ") that is generated from the landfill is treated onsite. The leachate is either treated through a constructed wetlands system or through its reverse osmosis wastewater treatment plant. Total treatment capacity is in excess of 100,000 gallons per day. County staff utilizes several waste diversion techniques to minimize waste disposal. Several thousand tons of waste per year are diverted from the waste stream and processed for beneficial reuse. Examples include wood waste, sheetrock, scrap metal, asphalt shingles, yard waste and appliances. The landfill facility completed the permitting process for a major expansion on land the County already owns, which added an additional 90 acres of disposal capacity. This additional capacity is estimated to extend the life of the landfill an additional 76 years at current disposal rates. Construction of the first two cells is included in the County's five -year Capital Improvement Plan and has an estimated cost of $5.2 million. The remaining seven cells will be constructed in the future as needed. Recycling Operations. The County operates and maintains eight recycling drop -off sites for County residents. Six of these sites are available to residents 7 days a week, 24 hours a day. County staff operates a small fleet of roll off trucks to collect the material from the drop -off sites and deliver them to the County's sorting and baling facility. At this facility, operated by Sonoco Recycling LLC, contaminants are removed from the materials, after which they are further sorted and baled. Baled materials are then marketed to mills or brokers, which generate revenues to help offset the cost of collection. The County has partnered with a third party to expand recycling processing. 15 Board of Commissioners - September 4, 2018 ITEM: 3 -3-19 The County also provides residents free disposal of used tires, electronics, and household hazardous waste (HHV). Each of these waste streams is further managed through contracted businesses that recycle the materials or convert them for beneficial reuse. Debt Information Legal Debt Limit In accordance with the provisions of the State Constitution and The Local Government Bond Act, as amended, allowing for the issuance of all presently authorized bonds, including those being offered by this Official Statement, the County has the statutory capacity to incur additional net general obligation debt in an approximate amount of $2,355,000,000 as of June 30, 2018. Outstanding General Obligation Debt Principal Outstanding' as of June 30, June 30, June 30, June 30, General Obligation Bonds 2015 2016 2017 2018 School Bonds $ 137,978,112 $ 167,433,4751 $ 151,239,460 $ 170,152,3651 Other Bonds 145,611,888 170,261,525 157,630,540 144,037,635 Total 283.590.000 337.695.000 308.870.000 $ 14 'Bonds Issued: 2015 -16 $83,255,000 General Obligation Bonds, Series 2015, 2.8236% true interest cost. 2017 -18 $34,215,000 General Obligation School Bonds, Series 2017, 2.4794% true interest cost, 10.46 years average maturity. Note: Outstanding debt above at 6 -30 -2018 does not include $41,005,000 Refunded General Obligation Bonds for which the Escrow Agent holds sufficient government securities to pay the bonds at the call date, $366,495,000 hospital revenue bonds, as these bonds are payable from the pledged revenues of the hospital facilities financed or $13,309,600 State Revolving Loans that are secured by sewer facilities and are paid from County General Fund revenues. General Obligation Debt Ratios After Bonds Now Offered Are Issued $ 372,380,000 $33,736,227,148 1.10% 223,2603 $1,667.92 'This amount excludes refunded bonds as described above under "Outstanding General Obligation Bonds." 2Estimates of North Carolina Office of State Budget and Management. 3For purposes of this table, the 2016 population estimate is being used. 16 Board of Commissioners - September 4, 2018 ITEM: 3 -3-20 Total GO Debt Total Total Assessed to Assessed GO Debt At June 30 GO Debt' Valuation Valuation Population2 Per Capita 2014 $308,180,000 $29,714,634,628 1.04% 216,955 $1,420.48 2015 283,590,000 29,745,736,443 .95% 220,108 1,307.14 2016 337,695,000 30,197,308,823 1.12% 223,260 1,512.56 2017 308,870,000 30,816,597,285 1.01 % 223,2603 1,383,45 2018 314,190,000 33,736,227,148 .93 223,2603 1,407.28 After Bonds Now Offered Are Issued $ 372,380,000 $33,736,227,148 1.10% 223,2603 $1,667.92 'This amount excludes refunded bonds as described above under "Outstanding General Obligation Bonds." 2Estimates of North Carolina Office of State Budget and Management. 3For purposes of this table, the 2016 population estimate is being used. 16 Board of Commissioners - September 4, 2018 ITEM: 3 -3-20 General Obligation Debt Seruice Requirements at June 30, 2018 and Maturity Schedule Fiscal Year Existing Debt Ending Principal Bonds Now June 30th Principal and Interest Offered 2 2019 $ 29, 715, 000.00 $ 42, 699,163.00 $ 2020 30, 445, 000.00 42,177, 561.00 3, 360, 000.00 2021 29, 600, 000.00 40, 061,192.50 3, 360, 000.00 2022 23,855,000.00 33,137,227.00 3,360,000.00 2023 21, 635, 000.00 29, 876,156.25 3, 355, 000.00 2024 21, 515, 000.00 28, 767, 882.25 3, 355, 000.00 2025 21, 405, 000.00 27, 660, 452.00 3, 355, 000.00 2026 21, 345, 000.00 26, 584, 983.00 3, 355, 000.00 2027 17, 480, 000.00 21, 764, 816.00 3, 355, 000.00 2028 17, 480, 000.00 20, 949, 304.00 3, 355, 000.00 2029 14, 240, 000.00 17, 026,135.00 3, 355, 000.00 2030 12, 735, 000.00 15, 001, 946.50 3, 355, 000.00 2031 12, 720, 000.00 14, 493, 458.00 3, 355, 000.00 2032 8, 620, 000.00 9,990,170.00 3, 355, 000.00 2033 8,620,000.00 9,683,270.00 3,355,000.00 2034 7, 620, 000.00 8, 376, 370.00 3, 355, 000.00 2035 5, 870, 000.00 6, 349, 070.00 3, 355, 000.00 2036 5, 870, 000.00 6,141, 770.00 3, 355, 000.00 2037 1, 710, 000.00 1, 786, 950.00 3, 355, 000.00 2038 1, 710, 000.00 1, 735, 650.00 3, 355, 000.00 2039 3,355,000.00_ Totals $ 314,190,000.00 $ 404,263,526.50 $ 67,115,000.00 'Excludes Refunded Bonds for which the Escrow Agent is holding certain government securities for payment of the defeased bonds. 2Preliminary; subject to change. General Obligation Bonds Authorized And Unissued Bonds Date Authorized Purpose Approved and Unissued School 11/04/2014 $75,943,000 *Preliminary; subject to change. 17 Bonds Now Offered $67,115,000* Board of Commissioners - September 4, 2018 ITEM: 3 -3-21 Balance 111 General Obligation Debt Information For li Tax 2016 Assessed Rate Unit Population? Valuation Per $100 Wilmington (County Seat) 117,255 $14,902,474,303 $0.4834 'North Carolina Office of State Budget and Management. Other Long -Term Commitments nderlying Units As Of June 30, 2018 Total Bonds Authorized Total GO GO Debt and Unissued Debt Per Capita $59,165,000 $34,175,000 $291.46 The County has entered into installment financing agreements, secured by certain assets financed and subject to an annual appropriation, pursuant to which it remains obligated. Other Long - Term Commitments outstanding are as follows: FISCAL YEAR ENDING JUNE 30, PRINCIPAL INTEREST TOTAL1,2 2019 $9,401,882 $2,826,669 $12,228,552 2020 9,516,019 2,424,806 11,940,826 2021 9,510,467 2,014,539 11,525,006 2022 8,180,103 1,632,349 9,812,452 2023 8,180,367 1,280,573 9,460,940 2024 3,928,603 1,023,065 4,951,668 2025 3,918,603 865,315 4,783,918 2026 3,744,411 711,482 4,455,894 2027 3,245,220 577,436 3,822,656 2028 3,245,220 456,053 3,701,274 2029 2,295,220 357,764 2,652,984 2030 1,995,220 282,842 2,278,062 2031 1,995,220 226,357 2,221,577 2032 1,995,220 169,079 2,164,299 2033 1,726,838 111,801 1,838,639 2034 916,287 31,926 948,214 2035 286,287 5,725 292,013 Totall,2 $74,081,195 $14,997,788 $89,078,983 'As described under the caption "PUBLIC SERVICE ENTERPRISES" herein, payments related to installment financing obligations of the County for water and sewer improvements are made by the Authority pursuant to an interlocal transition and operating agreement among the City, the County, the District and the Authority dated January 30, 2008. Such payment arrangements began on July 1, 2008. 2Totals may not foot due to rounding. Note: See the Notes to the Financial Statements in Appendix D for additional information concerning long -term commitments. Debt Outlook From time to time, the County evaluates refunding opportunities with respect to its outstanding debt and installment financing obligations. The County plans to issue installment financing contracts in FY 2019 for a number of capital improvement projects which include a new 18 Board of Commissioners - September 4, 2018 ITEM: 3 -3-22 Juvenile Justice Center, mental health facility and capital equipment for general operating and firefighting purposes. The amount of installment financing contracts is estimated at $38.9 million. Tax Information General Information Assessed Valuation: Assessment Ratio' Real Property Personal Property Public Service Companies2 Total Assessed Valuation Rate per $1003 Levy3 2015 100% $25,492,331,491 3,672,975,235 580.429.717 $29,745,736,443 .554 $165,381,898 'Percentage of assessed value has been established by statute 2016 2017 20184 100% 100% 100% $25,904,897,551 $26,319,887,074 $28,921,465,616 3,652,542,644 3,858,561,067 4,141,051,570 639,868,628 638,149,144 673,709,762 $30,197,308,823 $30,816,597,285 $33,736,227,148 .574 .623 .570 $173,584,355 $192,309,089 $193,338,644 2Valuation of railroads, telephone companies and other utilities as determined by the North Carolina Department of Revenue. 3In addition to the County -wide tax rate indicated above, the County levied a fire district tax covering the unincorporated areas of the County of 7.9¢, 7.0¢, 7.0¢ and 7.0¢ for fiscal years 2015, 2016, 2017 and 2018. 'Based on the 2017 -2018 fiscal year ; revaluation year. Tax Collections FISCAL YEAR Percentage PERCENTAGE OF ENDED/ ENDING PRIOR YEARS' CURRENT YEAR'S LEVY CURRENT YEAR'S LEVY JUNE 30 LEVIES COLLECTED COLLECTED COLLECTED 2014 $2,136,274 $162,687,043 98.68 2015 1,147,072 163,687,043 99.00 2016 1,220,013 171,936,776 99.00 2017 856,676 191,650,934 100.00 2018 119,888,800 191,954,631 99.28 Ten Largest Taxpayers for Fiscal Year 2017 -18 Taxnavers Duke Energy Progress Corning, Inc. General Electric Co. River Ventures Lsref3 Bravo, LLC GF Management Company Global Nuclear Fuel Amer. Fortron Industries LLC Centro Independence (Mall) Mayfaire Town Center LP New Hanover County Tax Office 19 Board of Commissioners - September 4, 2018 ITEM: 3 -3-23 Percentage Assessed of Total Type of Business Valuation Valuation Tax Lew Electric Utility $ 482,984,844 1.53% $2,753,014 OWG Manufacturer 245,557,759 .78 1,399,679 Utility 229,159,589 .73 1,306,209 Real Estate 74,933.400 .24 427,120 Real Estate 119,888,800 .38 683,366 Aircraft 74,503,183 .24 424,668 Manufacturer 50,545,352 .16 288,108 Chemical Manufacturer 93,315,524 .30 531,898 Real Estate 55,037,100 .17 313,711 Real Estate 66,508,814 .16 379,100 $ 1,492,434,365 4.75% $ 8,506,876 New Hanover County Tax Office 19 Board of Commissioners - September 4, 2018 ITEM: 3 -3-23 2017 -18 Budget Commentary General Fund & Debt Service Fund. The Board of Commissioners adopted a budget ordinance of $302,742,360 for the General Fund for fiscal year ending June 30, 2018, which included an appropriation of $7,458,373 General Fund balance to balance the budget. The appropriation of General Fund balance is for eight capital projects in the County's five -year capital improvement plan and one -time capital equipment purchases. The adopted budget ordinance for the Debt Service Fund for fiscal year ending June 30, 2018 was $57,134,400. The County completed a full measure and list revaluation of all real property which provided the tax base for 2017 -18. The tax base for the 2017 -18 budget was $33.369 billion, an 8.8% increase over 2016 -17. The tax rate was approved at .57 cents, which included .5053 cents for the General Fund and .0647 cents for the Debt Service Fund. The 2017- 18 budget continued to focus on the County's strategic plan with continued investments in public education, public safety, public health and economic development. Through May 31, 2017, expenditures are tracking at approximately 86% of the original General Fund budget and the County anticipates expenditures for the year to be on budget. Total revenues through May 31, 2017 are at 91% of the original General Fund budgeted revenues. Enterprise Fund. The Board of Commissioners adopted a 2017 -18 budget of $18,220,170 for the Environmental Management Fund. The budget included a 4.0% reduction in the tipping free from $50 to $48 per ton, while still addressing current and long term obligations of the fund including a post closure reserve and a capital reserve. The budget used $1,514,000 of appropriated fund balance that will be used to fund capital projects including the construction of cells at the southern property. 2018 -19 Budget Outlook General Fund & Debt Service Fund. On June 4, 2018, the Board of Commissioners adopted a budget ordinance of $293,698,641 for the General Fund for fiscal year ending June 30, 2019, which included an appropriation of $7,297,023 General Fund balance to balance the budget. The adopted budget ordinance for the Debt Service Fund for fiscal year ending June 30, 2019 was $54,946,079. The tax base for the 2018 -19 budget was $34.217 billion, which is an annual growth rate of 2.5 percent. The tax rate was approved at .5550 cents, which included .4903 cents for the General Fund and .0647 cents for the Debt Service Fund. The 2018 -19 budget maintains existing levels of service, provides long term funding for voter - approved debt and continues to focus on the County's strategic plan with continued investments in superior public education and workforce, superior public health and safety, and intelligent growth and economic development. Enterprise Fund. The Board of Commissioners adopted a 2018 -19 budget of $30,828,161 for the Environmental Management Fund. The tipping fee remained at $48 per ton, while still addressing current and long term obligations of the fund including a post closure reserve and a capital reserve. The budget included $11.4 million in pay -as- you -go capital projects. The budget used $1,514,000 of appropriated fund balance that will be used to fund capital projects including the construction of cells at the southern property. Pension Plans The County participates in the North Carolina Local Governmental Employees Retirement System and the Supplemental Retirement Income Plan of North Carolina. North Carolina Local Governmental Employees' Retirement System. The North Carolina Local Governmental Employees' Retirement System (the "System ") is a service agency administered through a board of trustees by the State for public employees of counties, cities, boards, commissions and other similar governmental entities. While the State Treasurer is the custodian of System funds, 20 Board of Commissioners - September 4, 2018 ITEM: 3 -3-24 administrative costs are borne by the participating employer governmental entities. The State makes no contribution to the System. The System provides, on a uniform System -wide basis, retirement and, at each employer's option, death benefits from contributions made by employers and employees. Employee members contribute 6% of their individual compensation. Each new employer makes a normal contribution plus, where applicable, a contribution to fund any accrued liability over a 24 -year period. The normal contribution rate for the year ended June 30, 2018, uniform for all employers, was 7.50% of eligible payroll for general employees and 8.25% of eligible payroll for law enforcement officers. The normal contribution rate for the year ending June 30, 2019, uniform for all employers, is 7.75% of eligible payroll for general employees and 8.50% of eligible payroll for law enforcement officers. The accrued liability contribution rate is determined separately for each employer and covers the liability of the employer for benefits based on employees' service rendered prior to the date the employer joins the system. Members qualify for a vested deferred benefit at age 60 after at least five years of creditable service to the unit of local government. Unreduced benefits for general employees are available: at age 65, with at least five years of creditable service; at age 60, with at least 25 years of creditable service; or after 30 years of creditable service, regardless of age. Benefit payments are computed by taking an average of the annual compensation for the four consecutive years of membership service yielding the highest average. This average is then adjusted by a percentage formula, by a total years of service factor, and by an age service factor if the individual is not eligible for unreduced benefits. Contributions to the system are determined on an actuarial basis. For information concerning the County's participation in the System and the Supplemental Retirement Income Plan of North Carolina see the Notes to the County's Audited Financial Statements in Appendix D. Financial statements and required supplementary information for the System are included in the Comprehensive Annual Financial Report ( "CAFR") for the State. Please refer to the State's CAFR for additional information. The County is self- insured for health insurance. Permanent County employees who resign in good standing, or retire with at least 15 years of creditable service in the System may continue to participate, at their cost (premium prepaid by employee), in the County's health and dental programs until they become eligible for Medicare. The County books a reserve (at year end) estimated to cover these costs for the upcoming year. Other Post - Employment Benefits The County provides certain post - employment benefits as part of the total compensation package offered to attract and retain qualified employees. Employees who retire on or after August 1, 2003 may qualify for continued coverage under the County's group health insurance program. A regular employee, who retires under one of the provisions of the North Carolina Retirement System, and who has at least five consecutive years of service with the County immediately prior to retirement is qualified for continued coverage. A fireman or sworn law enforcement officer who becomes totally and permanently disabled for their job, as approved by the North Carolina Retirement System's Medical Review Board, and whose disability is the result of an accident while performing their duty as such needs only one year of creditable service for continued coverage. At age 65, the retiree must obtain primary coverage through the Federal Medicare Plan (Parts A & B) and the County's health plan will assume secondary responsibility for covered medical services. The retiring employee must make an election to continue or terminate coverage at the time of their retirement. If a retiree waives 21 Board of Commissioners - September 4, 2018 ITEM: 3 -3-25 their right to continue coverage at the date of retirement, they may not elect coverage at a future date. The only exception to this rule is when the retiree's spouse is an active employee of the County, the retiree may choose to become a dependent under the spouse's certificate. If the retiree loses eligibility under the spouse's certificate, they may at the time exercise the retiree insurance options that were available at the time of their retirement. The County provides these benefits under a self- insured plan with a portion funded by the County and the remainder funded by the retiree based on years of creditable service in the retirement system. Qualified retirees can purchase coverage for their dependents at the County's group rates. The County has also elected to provide a death benefit for employees who die in active service after one year as a contributing member of the retirement system or who die within 180 days of their retirement date. For additional information concerning the County's obligation to provide such health care benefits and death benefits, see Note 3B of the Notes to the Basic Financial Statements of the County in Appendix D. In June 2004, GASB issued Statement No. 45 Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions (effective for fiscal year 2008). GASB Statement No. 45 was implemented in three phases beginning in fiscal year 2008 and generally requires that state and local governmental employers account for expected future retiree costs attributable to OPEBs on an accrual basis similar to the manner that they currently account for pensions. GASB Statement No. 45 also requires disclosure of information about the plans in which an employer participates, the funding policy followed, and the actuarial valuation process and assumptions. The County is considered a "Phase 1" government (based on the County's total annual revenues) and was required to implement GASB Statement No. 45 in fiscal year 2007 -08. In response to GASB Statement No. 45, the County had an official actuarial study done to determine its unfunded OPEB liability and annual required contribution ("ARC'). The study was done under an assumption of fully funding the ARC and indicated the unfunded OPEB liability under an assumption of pay -as- you-go funding, which is the County's current practice. The actuarial study concluded that the County has an ARC of $18,220,191 and an unfunded OPEB liability of $189,841,051 as of December 2014. The County's contributions for OPEB liability during fiscal year June 30, 2015 and June 30, 2016 were $3,581,212 and $4,387,163, respectively. Litigation No litigation is now pending or, to the best of the County's knowledge, threatened, against or affecting the County which seeks to restrain or enjoin the authorization, on issuance of the Bonds or which contests the County's creation, organization or corporate existence, or the title of any of the present officers thereof to their respective offices or the authority or proceedings for the County's authorization of the Bonds, or the County's authority to carry out its obligations thereunder or which would have a material adverse impact on the County's condition, financial or otherwise. The County is not aware of any contingent liabilities which, in the opinion of the County Attorney, would materially adversely affect the County's ability to meet its financial obligations. 22 Board of Commissioners - September 4, 2018 ITEM: 3 -3-26 CONTINUING DISCLOSURE In accordance with the requirements of Rule 15c2 -12 promulgated by the SEC under the Securities Exchange Act of 1934 ('Rule 15c2 -12'), the County has undertaken in the Bond Resolution to provide: (1) by not later than seven months after the end of each Fiscal Year, beginning with the Fiscal Year ended June 30, 2018, to the Municipal Securities Rulemaking Board (the 'MSRB'), in an electronic format prescribed by the MSRB the audited financial statements of the County for the preceding Fiscal Year, if available, prepared in accordance with Section 159 -34 of the General Statutes of North Carolina, as it may be amended from time to time, or any successor statute, or if such audited financial statements are not then available, unaudited financial statements of the County for such Fiscal Year to be replaced subsequently by audited financial statements of the County to be delivered within 15 days after such audited financial statements become available for distribution; (2) by not later than seven months after the end of each Fiscal Year, beginning with the Fiscal Year ended June 30, 2018, to the MSRB, the financial and statistical data as of a date not earlier than the end of the preceding Fiscal Year for the type of information included in the Official Statement under the captions "THE COUNTY —DEBT INFORMATION" and "- TAX INFORMATION" (excluding any information for overlapping units); (3) in a timely manner not in excess of 10 Business Days after the occurrence of the event, to the MSRB notice of any of the following events with respect to the Bonds: (a) principal and interest payment delinquencies; (b) non - payment related defaults, if material; (c) unscheduled draws on the debt service reserves reflecting financial difficulties; (d) unscheduled draws on any credit enhancements reflecting financial difficulties; (e) substitution of any credit or liquidity providers, or their failure to perform; (f) adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701 -TEB) or other material notices or determinations with respect to the tax status of the Bonds or other material events affecting the tax status of the Bonds; (g) modification of the rights of the Beneficial Owners of the Bonds, if material; (h) call of any of the Bonds, if material, and tender offers; (i) defeasance of any of the Bonds; (j) release, substitution or sale of any property securing repayment of the Bonds, if material; (k) rating changes; (1) bankruptcy, insolvency, receivership or similar event of the County; 23 Board of Commissioners - September 4, 2018 ITEM: 3 -3-27 (m) the consummation of a merger, consolidation, or acquisition involving the City or the sale of all or substantially all of the assets of the obligated person, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to such actions, other than pursuant to its terms, if material; and (n) the appointment of a successor or additional trustee, or the change in the name of a trustee, if material; (4) in a timely manner, to the MSRB, notice of a failure of the County to provide required annual financial information described in (1) and (2) above on or before the date specified. At present, Section 159 -34 of the General Statutes of North Carolina requires that the County's financial statements be prepared in accordance with generally accepted accounting principles and that they be audited in accordance with generally accepted auditing standards. The Bond Resolution also provides that the County's undertaking pursuant to Rule 15c2 -12 is intended to be for the benefit of the registered owners and the beneficial owners of the Bonds and is enforceable by any of the registered owners and the beneficial owners of the Bonds, including an action for specific performance of the County's obligations described in this Section, but a failure to comply will not be an event of default and will not result in acceleration of the payment of the Bonds. An action must be instituted, had and maintained in the manner provided in the Bond Order for the benefit of all of the registered owners and beneficial owners of the Bonds. The County may modify from time to time, consistent with Rule 15c2 -12, the information provided or the format of the presentation of such information, to the extent necessary or appropriate in the judgment of the County, but: (1) any such modification may only be made in connection with a change in circumstances that arises from a change in legal requirements, change in law or change in the identity, nature or status of the County; (2) the information to be provided, as modified, would have complied with the requirements of Rule 15c2 -12 as of the date of this Official Statement, after taking into account any amendments or interpretations of Rule 15c2 -12 as well as any changes in circumstances; and (3) any such modification does not materially impair the interest of the registered owners or the beneficial owners, as determined by nationally recognized bond counsel or by the approving vote of the Owners of a majority in principal amount of the Bonds. Any annual financial information containing modified operating data or financial information will explain, in narrative form, the reasons for the modification and the impact of the change in the type of operating data or financial information being provided. The County's Rule 15c2 -12 undertakings will terminate on payment, or provision having been made for payment in a manner consistent with the Rule 15c2 -12, in full of the principal of and interest on the Bonds. All documents provided to the MSRB as described above will be provided in an electronic format as prescribed by the MSRB and accompanied by identifying information as prescribed by the MSRB. The County may discharge its undertaking described above by transmitting those documents or notices in a manner subsequently required by the SEC in lieu of the manner described above. Since 2008, the rating agencies have periodically downgraded the long -term and short -term ratings of municipal bond insurers several times without giving notice of such downgrades to the County. The County has learned of some downgrades through general media sources and, when it did so, filed the appropriate listed event notice related to such ratings downgrades to the extent they are applicable to the County's indebtedness; however, it is possible that the County either was unaware of a downgrade or did not learn of a downgrade in order to file a notice in a timely fashion. Over the past five years, the County has otherwise, to the best of its knowledge, complied in all material respects with its continuing disclosure obligations pursuant to Rule 15c2 -12. 24 Board of Commissioners - September 4, 2018 ITEM: 3 -3-28 Opinions of Counsel Legal matters related to the execution, sale and delivery of the Bonds are subject to the approval of Parker Poe Adams & Bernstein LLP, Bond Counsel. The opinion of Parker Poe Adams & Bernstein LLP, as Bond Counsel, substantially in the form set forth in Appendix E hereto, will be delivered at the time of the delivery of the Bonds. Certain legal matters will be passed on for the County by Wanda M. Copley, Esq. TAX TREATMENT General The opinions of Bond Counsel will state that under existing law (a) interest on the Bonds is excludable from gross income for federal income tax purposes and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations (however, such interest is taken into account in determining adjusted current earnings for purposes of computing the alternative minimum tax imposed on certain corporations), and (b) interest on the Bonds is exempt from State of North Carolina income taxes. The Internal Revenue Code of 1986, as amended (the "Code ") and the regulations promulgated thereunder contain a number of requirements that must be satisfied subsequent to the issuance of the Bonds in order for interest on the Bonds to be and remain excludable from gross income for purposes of federal income taxation. Examples include: the requirement that the County rebate certain excess earnings on proceeds and amounts treated as proceeds of the Bonds to the United States Treasury; restrictions on investment of such proceeds and other amounts; and restrictions on the ownership and use of the facilities financed with proceeds of the Bonds. The foregoing is not intended to be an exhaustive listing of the post- issuance tax compliance requirements of the Code, but is illustrative of the requirements that must be satisfied by the County subsequent to the issuance of the Bonds to maintain the exclusion of interest on the Bonds from income for federal income taxation purposes. Failure to comply with certain of such requirements may cause interest on the Bonds to be included in gross income retroactively to the date of issuance of the Bonds. The County has covenanted to comply with these requirements. The opinion of Bond Counsel delivered on the date of issuance of the Bonds will be conditioned on the compliance by the County with such requirements, and Bond Counsel has not been retained to monitor compliance with requirements such as described above subsequent to the issuance of the Bonds. Prospective purchasers of the Bonds should be aware that ownership of the Bonds may result in collateral federal, state or local tax consequences to certain taxpayers, including, without limitation, financial institutions, property and casualty insurance companies, individual recipients of Social Security or Railroad Retirement benefits, certain S corporations with "excess net passive income," foreign corporations subject to the branch profits tax, life insurance companies and taxpayers who may be deemed to have incurred or continued indebtedness to purchase or carry or have paid or incurred certain expenses allocable to the Bonds. Bond Counsel expresses no opinion regarding any such collateral tax consequences. Prospective purchasers of the Bonds should consult their tax advisors regarding collateral tax consequences. Bond Counsel's opinions are based on existing law, which is subject to change. Such opinions are further based on factual representations made to Bond Counsel as of the date thereof. Bond Counsel assumes no duty to update or supplement its opinions to reflect any facts or circumstances that may thereafter come to Bond Counsel's attention, or to reflect any changes in law that may thereafter occur or become effective. Moreover, Bond Counsel's opinions are not a guarantee of a particular result, and 25 Board of Commissioners - September 4, 2018 ITEM: 3 -3-29 are not binding on the Internal Revenue Service or the courts; rather, such opinions represent Bond Counsel's professional judgment based on its review of existing law, and in reliance on the representations and covenants that it deems relevant to such opinions. Tax legislation, administrative actions taken by tax authorities, or court decisions, whether at the Federal or state level, may adversely affect the tax - exempt status of interest on the Bonds under Federal or state law and could affect the market price or marketability of the Bonds. Original Issue Discount The original issue discount in the selling price of each Bond maturing on September 1 in the years to inclusive, to the extent properly allocable to each owner of such Bond, is excludable from gross income for federal income tax purposes with respect to such owner. The original issue discount is the excess of the stated redemption price at maturity of such Bond over its initial offering price to the public, excluding underwriters and other intermediaries, at which price a substantial amount of the Bonds of such maturity were sold. Under Section 1288 of the Code, original issue discount on tax - exempt bonds accrues on a compound basis. The amount of original issue discount that accrues to any owner of a Bond during any accrual period generally equals (i) the issue price of such Bond plus the amount of original issue discount accrued in all prior accrual periods, multiplied by (ii) the yield to maturity of such Bond (determined on the basis of compounding at the close of each accrual period and properly adjusted for the length of the accrual period), minus (iii) any interest payable on such Bond during such accrual period. The amount of original issue discount so accrued in a particular accrual period will be considered to be received ratably on each day of the accrual period, will be excludable from gross income for federal income tax purposes, and will increase the owner's tax basis in such Bond. Purchasers of any Bond at an original issue discount should consult their tax advisors regarding the determination and treatment of original issue discount for federal income tax purposes, and with respect to state and local tax consequences of owning such Bonds. Original Issue Premium The Bonds maturing on September 1 in the years to inclusive, have been sold at initial public offering prices that are in excess of the amount payable at maturity. An amount equal to the excess of the purchase price of a Bond over its stated redemption price at maturity constitutes premium on such Bond. A purchaser of a Bond must amortize any premium over such Bond's term using constant yield principles, based on the Bond's yield to maturity. As premium is amortized, the purchaser's basis in such Bond and the amount of tax - exempt interest received will be reduced by the amount of amortizable premium properly allocable to such purchaser. This will result in an increase in the gain (or decrease in the loss) to be recognized for federal income tax purposes on sale or disposition of such Bond prior to its maturity. Even though the purchaser's basis is reduced, no federal income tax deduction is allowed. Purchasers of any Bond at a premium, whether at the time of initial issuance or subsequent thereto, should consult their tax advisors with respect to the determination and treatment of premium for federal income tax purposes, and with respect to state and local tax consequences of owning such Bonds. FINANCIAL ADVISOR First Tryon Advisors, Charlotte, North Carolina is acting as financial advisor to the County in connection with the issuance of the Bonds. 26 Board of Commissioners - September 4, 2018 ITEM: 3 -3-30 RATINGS Moody's Investors Service and S &P Global Ratings, a Standard & Poor's Financial Services LLC business, have given the Bonds ratings of "Aaa" and "AAA ", respectively. Those ratings reflect only the respective views of such organizations, and an explanation of the significance of such ratings may be obtained only from the respective organization providing such rating. Certain information and materials not included in the Official Statement were furnished to such organizations. There is no assurance that such ratings will remain in effect for any given period of time or that any or all will not be revised downward or withdrawn entirely. Any downward revision or withdrawal of a rating may have an adverse effect on the market prices of the Bonds. UNDERWRITING The underwriters for the Bonds are The underwriters have agreed, subject to certain conditions, to purchase all, but not less than all of the Bonds. If all of the Bonds are sold at the public offering yields hereinabove set forth, the underwriters anticipate total selling compensation of $ *. The public offering prices or yields of the Bonds may be changed from time to time by the underwriters. The Underwriters have agreed to purchase all of the Bonds, if any of the Bonds are to be purchased, at a purchase price of not less than 100% of the principal amount of the Bonds. *Information provided by underwriters. 27 Board of Commissioners - September 4, 2018 ITEM: 3 -3-31 MISCELLANEOUS Any statements in this Official Statement involving matters of opinion or estimates, whether or not expressly so stated, are intended as such and not as representations of fact. References herein to the State Constitution and legislative enactments are only brief outlines of certain provisions thereof and do not purport to summarize or describe all provisions thereof. The distribution of this Official Statement has been duly authorized by the Local Government Commission of North Carolina and the Board of Commissioners of the County. COUNTY OF NEW HANOVER, NORTH CAROLINA By Woody White Chairman of the Board of Commissioners Lo LM Chris Coudriet County Manager Lisa Wurtzbacher Chief Financial Officer 28 LOCAL GOVERNMENT COMMISSION OF NORTH CAROLINA By Greg C. Gaskins Secretary of the Commission Board of Commissioners - September 4, 2018 ITEM: 3 -3-32 NEW HANOVER COUNTY BOARD OF COMMISSIONERS REQUEST FOR BOARD ACTION MEETING DATE: September 4, 2018 DEPARMVI NR Planning PRESINIMS): Brad Schuler, Current Planner (Planning Board Rep: Paul Boney) CONTACT(S): Brad Schuler; Ben Andrea, Current Planning & Zoning Supervisor; Ken Vafier, Planning Manager; and Wayne Clark, Planning & Land Use Director SUBJECT: Public Hearing Rezoning Request (Z17 -13) — Request by Right Angle Engineering, on Behalf of the Property Owner, McCormick Ventures, LLC, to Modify the Conditions of the Northchase Planned Development to Allow for an Additional Driveway Access to N. College Road from Property Located at 4616 Coddington Loop IH.7IgoWillUILVAM a At the request of the applicant, the item was continued by the Commissioners from the March 12, 2018 meeting to the May 7, 2018 meeting. After the March meeting, the applicant subsequently requested additional administrative continuances resulting in the item being scheduled for the September 4, 2018 meeting. Right Angle Engineering, on behalf of the property owner, McCormick Ventures, LLC, is requesting to modify the conditions of the Northchase Planned Development to allow for an additional driveway access to N. College Road from property located at 4616 Coddington Loop. Similar to conditional zoning districts, planned developments are approved with a master plan which illustrates the general design and layout of the development. Approved planned developments must be constructed in accordance with the approved master plan, with only minor changes capable of being approved by staff. Requests for major changes, like this application, must follow the same review process as a new rezoning application, which includes public hearings with the Planning Board and Board of Commissioners. The Northchase Planned Development, consisting of approximately 700 acres, was originally approved in 1985. As part of that approval, the development was limited to six access points to N. College Road. The six access points connect to an internal street network that provides access to all of the properties within Northchase, including both the residential and commercial portions of the development. The applicant is requesting to install an additional driveway access point to N. College Road from a 1.15 -acre parcel located at 4616 Coddington Loop Road. The subject property is currently classified as "Commercial" on the Northchase Master Plan, which would allow for land uses permitted in the B- 1 and B -2 zoning districts. The applicant states that a driveway at this location would improve business visibility, access, and deliveries by large trucks. Prior to consulting with County staff regarding the proposed driveway, the applicant had discussions Board of Commissioners - September 4, 2018 ITEM: 4 with NCDOT that resulted in preliminary comments for a possible driveway permit. Subsequent to those conversions, NCDOT notified the applicant that they put the driveway request on hold pending the outcome of this request. The 2016 Comprehensive Land Use Plan classifies the subject property as Employment Center. This Place Type Serves as an employment and production hub where office and light industrial uses predominate. The Comprehensive Plan does not specifically address access management along roadways, and the place type description offers limited guidance for evaluating the applicant's petition. The existing direct access points on N. College Rd. effectively serve the Employment Center's business and other uses while reducing the likelihood of traffic congestion common on many of the County's roads (Market St., S. College Rd., Carolina Beach Rd.) where frequent driveway cuts exist. The proposed access point is generally NOT CONSISTENT with the purpose and intent of the Comprehensive Plan, and is not consistent with the development intent of the Northchase Planned Development. Allowing additional access points to N. College Rd. will contribute to more opportunities for traffic conflicts on a key arterial providing access to an anticipated growth node. The Planning Board considered this application at their January 11, 2018 meeting. At the meeting the Board discussed the need for the proposed driveway, how the driveway would affect the safety of the motorists traveling on N. College Road, and NCDOT's position on the driveway. No one from the public spoke in favor of, or in opposition to, the proposal. The Planning Board recommended denial (4 -0) of the application, concluding that it is: 1. Not consistent with the purposes and intent of the 2016 Comprehensive Plan because the proposed driveway will contribute to more traffic conflicts on a key arterial street to an anticipated growth node. 2. Not reasonable and not in the public interest because the proposed driveway will add an additional conflict point on N. College Road, thereby increasing the opportunities for traffic congestion and decreasing the overall safety of the road. In addition, the proposed driveway will not improve the access or vehicular circulation to neighboring commercial properties within Northchase as they are already served by an existing internal roadway network. STRATEQC PLAN AHaTU I: Intelligent Growth and Economic Development • Implement plans for land use, economic development, infrastructure and environmental programs RECONIVIE1DED MOTION AND REQUESTM ACTIONS: Staff concurs with the Planning Board's action and suggests the following motion: Motion to deny, affirming the Planning Board's statements that the application is inconsistent with the Comprehensive Plan and is not reasonable and not in the public interest. ATTACIP4ENIS: Z17 -13 Script for BOC Board of Commissioners - September 4, 2018 ITEM: 4 Z17 -13 Staff Summary BOC Z17 -13 Neighboring Properties Map Z17 -13 Zoning Map Z17 -13 FLU Map Application Materials Cover Sheet Z17 -13 Application Package Proposed Site Plan Cover Sheet Z17 -13 Proposed Site Plan Other Materials Cover Sheet NCDOT Email COUNTY NIANAC"S CONNENIS AND RECOND41%DATIONS: (only Manager) Recommend denial as recommended by the Planning Board and staff. CONMSSIONERS' ACTIONS: Denied 5 -0. Board of Commissioners - September 4, 2018 ITEM: 4 SCRIPT for Planned Development Modification Application (Z17 -13) Request by Right Angle Engineering, on behalf of the property owner, McCormick Ventures, LLC, to modify the conditions of the Northchase Planned Development to allow for an additional driveway access to N. College Road from property located at 4616 Coddington Loop. 1. This is a public hearing. We will hear a presentation from staff. Then the applicant and any opponents will each be allowed 15 minutes for their presentation and additional 5 minutes for rebuttal. 2. Conduct He a. b. C. d. e. wring, as follows: Staff presentation Applicant' s presentation (up to 15 minutes) Opponent's presentation (up to 15 minutes) Applicant's rebuttal (up to 5 minutes) Opponent's rebuttal (up to 5 minutes) 3. Close the public hearing 4. Board discussion 5. Vote on the application. The motion should include a statement saying how the change is, or is not, consistent with the land use plan and why it is, or is not, reasonable and in the public interest. Staff Suggested Motion: Motion to deny, affirming the Planning Board's statements that the application is inconsistent with the Comprehensive Plan and is not reasonable and not in the public interest. Alternative Motion for Approval /Denial: Motion to [Approve /Deny], as the Board finds that this request to modify the conditions of the Northchase Planned Development to allow for an additional driveway access to N. College Road, as described is: 1. [Consistent /Not Consistent] with the purposes and intent of the 2016 Comprehensive Plan because (Describe elements of controlling land use plans and how the amendment is or is not consistentl. 2. [Reasonable /Not Reasonable] and in the public interest because [Briefly explain why. Factors may include public health and safety, character of the area and relationship of uses, applicable plans, or balancing benefits and detrimentsl. Conditions: [List any agreed upon conditions] STAFF SUMMARY OF Z17 -13 PLANNED DEVELOPMENT (MODIFICATION) APPLICATION APPLICATION SUMMARY Case Number: Z17 -1 3 Request: To modify the conditions of the Northchase Planned Development in order to allow for an additional driveway access to N. College Road. Applicant: Property Owner(s): Shane Lippard of Right Angle Engineering, PC McCormick Ventures, LLC Location: Acreage: 4616 Coddington Loop 1.15 PID(s): Comp Plan Place Type: R02611-001-009-000 Employment Center Current Zoning: Existing Land Use: Planned Development (PD) Undeveloped Proposed Zoning: Planned Development (PD) SURROUNDING AREA LAND USE ZONING North Child Care Facility PD East Office/Warehouse, Contractor Offices PD South Undeveloped PD West Single - Family Residential PD Z17 -1 3 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 4 - 2 - 1 Page 1 of 10 ZONING HISTORY July 7, 1972 Initially zoned R -15 (Area 8B) July 1, 1985 Property rezoned to Planned Development (PD) (Z -231 ) COMMUNITY SERVICES Water /Sewer CFPUA water and sewer services are available Fire Protection New Hanover County Fire Services, New Hanover County Northern Fire Archaeological District, New Hanover County Murrayville Station Schools Castle Hayne Elementary, Eaton Elementary, Trask Middle, and Laney High 0.63 Schools Recreation Olsen Park CONSERVATION, HISTORIC, & ARCHAEOLOGICAL RESOURCES Conservation No known conservation resources Historic No known historic resources Archaeological No known archaeological resources TRANSPORTATION • Access is provided to the subject property by Northchase Parkway NE (SR 2652) and Coddington Loop Road, a private road. Traffic Counts Road Location Volume Capacity V/C N. College Road Blue Clay to Parmele 10,242 161200 0.63 N. College Road Castle Hayne Road to 8,122 16,200 0.50 Old Oakland Z17 -1 3 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 4 - 2 - 2 Page 2 of 10 Nearby Planned Transportation Improvements and Traffic Impact Analyses Traffic Impact Analyses P 1 Mile Radius Approved ��SO^s?+,<< F +-10 • r -- Under Review � �► / E / Cr CC North Campus Under Draft G,,✓i ;G TIA Approved G i O 9a aq Cape Landina �� m 1 -140 1 -140 j TIA Approved �`` ♦�•� nVEPTON ♦/ r � � U N ` ` ■ HEMLOCK Z i f -1 3 ••! tee♦ II •• �OLLY _ ♦ dA �� • r 7 ■ � � � Q0..'_ l n , x � � ,�! ■ � �M • v gR1� 4 � + ■ �' r 4 e 7 1 ■I a2 ?? N6RT * 2 r♦ � c �, Wave Bus Stop � Fa _ F� . , SECU y STIP Project_ T �ANrnFNC TIA Approved Greenway Plan Recommendations �E Miles 0 0.25 0.5 Bicycle Lane Greenway - Sharrow Regional Transportation Plans: • The NHC/City of Wilmington Greenway Plan recommends that a greenway network be installed in the surrounding area, including a bicycle lane along the portion of N. College Road adjacent to the subject property. Nearby Traffic Impact Analyses: Traffic Impact Analyses are completed in accordance with the WMPO and NCDOT standards. Approved analyses will expire if the proposed development is not completed by the build out date established within the TIA. Listed below are projects within a one -mile radius from the subject site that are currently drafting a TIA or have completed a TIA within the last five years. Z17 -13 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 4 - 2 - 3 Page 3 of 10 Proposed Land Use /Intensity TIA Status Development • TIA Approved December 21, 1. Cape Landing . Subdivision 1 26 Single- family dwellings 2017 • 2021 Build Out Year The TIA required improvements be completed at the intersection of N. College Road and Blue Clay Road. The major improvement consisted of: • Extension of an eastbound right turn lane on Blue Clay Road, and restriping of existing lane on N. College Road. The improvements have not been completed at this time. Nearby Proposed Developments included within the TIA: • Cape Fear Community College North Campus Expansion Development Status: Phase I, consisting of 62 lots, has been constructed. 2. State Employees • 8,526 square foot bank with • TIA Approved December 17, Credit Union drive -thru. 2015 • 2017 Build Out Year The TIA required improvements be completed at certain intersections in the area. The major improvement consisted of: • Installation of an eastbound right turn lane on Northchase Parkway SE at the site access. In addition, NCDOT denied a driveway access to N. College Road from the subject site. The project is currently under construction. Nearby Proposed Developments included within the TIA: • None Development Status: Under Construction Z17 -1 3 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 4 - 2 - 4 Page 4 of 10 ENVIRONMENTAL • The property does not contain any Special Flood Hazard Areas, wetlands, or Natural Heritage Areas. • The subject property is within the Prince George Creek (C;Sw) watershed. • Per the Classification of Soils in New Hanover County for Septic Tank Suitability, soils on the property consist of Class II (moderate limitation) and Class III (severe limitation) soils. PROPOSED MODIFICATION This application proposes to modify the conditions of the Northchase Planned Development. Similar to conditional zoning districts, planned developments are approved with a master plan which illustrates the general design and layout of the development. Approved planned developments must be constructed in accordance with the approved master plan, with only minor changes capable of being approved by staff. Requests for major changes, like this application, must follow the same review process as a new rezoning application, which includes public hearings with the Planning Board and Board of Commissioners. The Northchase Planned Development, consisting of approximately 700 acres, was originally approved in 1985. As part of that approval, the development was limited to six access points to N. College Road; which are highlighted on the map below. The six access points connect to an internal street network that provides access to all of the properties within Northchase, including both the residential and commercial portions of the development. Z17 -1 3 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 4 - 2 - 5 Page 5 of 10 • 733,000 square feet of buildings, an athletic field and 3. Cape Fear an increase in student • TIA approved October 10, Community population from 2,846 2013 College — North students to 4,268. • Phase 1: 2015 Build Out Campus o Phase I: Two buildings Year, Full Build Out: 2033 totaling 138,000 square feet. The TIA required improvements to be made at certain intersections in the area. The major improvements consisted of: • Installation of multiple turn lanes on Sidbury Road at two of the three access points. Per NCDOT, the improvements required at this time have been installed in accordance with their standards. Nearby Proposed Developments included within the TIA: • Exton Park (1 14 townhome development) • Parsons Mills (354 unit residential subdivision) Development Status: Phase I has been constructed. ENVIRONMENTAL • The property does not contain any Special Flood Hazard Areas, wetlands, or Natural Heritage Areas. • The subject property is within the Prince George Creek (C;Sw) watershed. • Per the Classification of Soils in New Hanover County for Septic Tank Suitability, soils on the property consist of Class II (moderate limitation) and Class III (severe limitation) soils. PROPOSED MODIFICATION This application proposes to modify the conditions of the Northchase Planned Development. Similar to conditional zoning districts, planned developments are approved with a master plan which illustrates the general design and layout of the development. Approved planned developments must be constructed in accordance with the approved master plan, with only minor changes capable of being approved by staff. Requests for major changes, like this application, must follow the same review process as a new rezoning application, which includes public hearings with the Planning Board and Board of Commissioners. The Northchase Planned Development, consisting of approximately 700 acres, was originally approved in 1985. As part of that approval, the development was limited to six access points to N. College Road; which are highlighted on the map below. The six access points connect to an internal street network that provides access to all of the properties within Northchase, including both the residential and commercial portions of the development. Z17 -1 3 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 4 - 2 - 5 Page 5 of 10 Northchase N. College Access Points Two Access Points at Northchase Parkway W /NE Two Access Points at Northchase Parkway W %SE One Access Point at Trademark Drive One Access Point at New Village Way Z17 -1 3 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 4 - 2 - 6 Page 6 of 10 The applicant is requesting to install an additional driveway access point to N. College Road from a 1.15 -acre parcel located at 4616 Coddington Loop Road. The subject property is currently classified as "Commercial" on the Northchase Master Plan, which would allow for land uses permitted in the B -1 and B -2 zoning districts. The applicant states that a driveway at this location would improve business visibility, access, and deliveries by large trucks. When the subject property was first created through a subdivision plat in 1999, access was provided to the property by a 30 -foot access easement, where a driveway was previously installed connecting to Northchase Parkway NE. In 2007, a document was recorded in the Register of Deeds that abandoned that easement and dedicated a new 50 -foot easement in order for the subject property to utilize Coddington Loop for access and utility purposes (Book 51 60, Page 1614). Two properties located directly north of the subject property already use Coddington Loop as their sole access. The location of the proposed driveway would be approximately 300 feet north of the intersection of N. College Road and Northchase Parkway NE. Z17 -1 3 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 4 - 2 - 7 Page 7 of 10 Proposed Driveway Plan 2016 COMPREHENSIVE LAND USE PLAN The New Hanover County Future Land Use Map provides a general representation of the vision for New Hanover County's future land use, as designated by place types describing the character and function of the different types of development that make up the community. Specific goals of the Comprehensive Plan are designated to be promoted in each place type, and other goals may be relevant for particular properties. Z17 -13 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 4 - 2 - 8 Page 8 of 10 Future Land Use Employment Center Map Place Type Serves as employment and production hub where office and light industrial Place Type uses predominate. Can also include residential, civic, and recreational uses, Description but should be clearly delineated from rural and conservation areas. Commercial uses designed to serve the needs of the employment center are appropriate. The Comprehensive Plan does not specifically address access management along roadways, and the place type description offers limited guidance for evaluating the applicant's petition. Employment Center areas are primarily intended to accommodate high job generating businesses. Residential and commercial uses are encouraged in these areas in order to provide nearby housing for workers at those businesses and needed services for those workers. Ideally, commercial uses in this place type are not intended to serve the general motoring public. Analysis The existing direct access points on N. College Rd. effectively serve the Employment Center's business and other uses while reducing the likelihood of traffic congestion common on many of the County's roads (Market St., S. College Rd., Carolina Beach Rd.) where frequent driveway cuts exist. Maintaining limits on driveway cuts on N. College Rd. is especially important given the location of the anticipated high growth area around CFCC North Campus, immediately north of the Employment Center area. High growth and high density without access control on the primary through -road has the potential to increase congestion and roadway conflicts. The proposed access point is in general NOT CONSISTENT with the purpose Consistency and intent of the Comprehensive Plan. Allowing additional access points to Recommendation N. College Rd. will contribute to more opportunities for traffic conflicts on a key arterial to an anticipated growth node. PLANNING BOARD ACTION The Planning Board considered this application at their January 11, 2018 meeting. At the meeting the Board discussed the need for the proposed driveway, how the driveway would affect the safety of the motorists traveling on N. College Road, and NCDOT's position on the driveway. No one from the public spoke in favor of, or in opposition to, the proposal. The Planning Board recommended denial (4 -0) of the application, concluding that it is: 1. Not consistent with the purposes and intent of the 2016 Comprehensive Plan because the proposed driveway will contribute to more traffic conflicts on a key arterial street to an anticipated growth node. 2. Not reasonable and not in the public interest because the proposed driveway will add an additional conflict point on N. College Road, thereby increasing the opportunities for traffic congestion and decreasing the overall safety of the road. In addition, the proposed Z17 -1 3 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 4 - 2 - 9 Page 9 of 10 driveway will not improve the access or vehicular circulation to neighboring commercial properties within Northchase as they are already served by an existing internal roadway network. STAFF RECOMMENDATION Staff concurs with the Planning Board's action and also recommends denial of this application. The current roadway network in Northchase, which limits driveways to N. College Road, allows for better flow of the road by reducing conflict points. In addition, the property has access to an internal roadway network that serves every commercial /industrial property located within the development; approximately 250 parcels of land. The proposed driveway will not improve the access or vehicular circulation to the neighboring properties that already utilize the existing internal roadway network. Staff also has concerns that allowance of an additional driveway at the subject property could start a precedent for adjacent property owners to seek the same request. Overall, the proposed driveway will only provide benefit to the subject property while increasing the opportunities for traffic congestion and additional driveways in a planned development that was designed to minimize conflict points on an arterial street by providing a sufficient and effective internal street network that every existing business has utilized for their sole access. Staff requested input from NCDOT regarding this application, and they stated "every additional driveway along Wilmington's already congested major corridors represents an additional conflict point creating undue impairment of safety, mobility, and utility of the highway..." Further, NCDOT's "Policy On Street and Driveway Access to North Carolina Highways" stipulates that NCDOT may deny access to the adjacent public roadway from "out lots" or "out parcels" of a larger development where reasonable access can be provided via the larger development's internal circulation system. It is NCDOT's stance that this subject parcel is part of the overall larger development and therefore should be served internally. NCDOT's full position on this application is included in the Planning Board's packet, in email correspondence sent to staff in December 2017. Z17 -13 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 4 - 2 - 10 Page 10 of 10 Z Z Z Z Z Z Z Y Y Y Y Y Y Y d /L a. 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O d LO co • • 1*4 a • • L —ENTERPRISE'DR M �_ ° V tq d U • °v M • v • L M M M (,.' • V N 0 • CN O cn LO V • M • • LO d O � V � . • • P � � V LO P � O ai O • Q V V G1 ° N d d M �• �• O 04 0 � V • v r ° o ? •V Mme(") M� l /` M M ��V LL 0 � O co GK�ND ON M • M ° OO M l H M• 0 V M J N M / \\ 04 04 o O J a �O O v o cn �o = GE'RD. • J in o �J T ABBE W 'Li: Vp O, y 2 _ W \Jy�� m ,� y bd SNOW d \O L M a y O ai a (D V I^ c p (101-1 N '� C " ``n CAROkl s. N 1` 20�.l0 q a d4= 1NOW3andu ~_ Z..V Z OJ ONyH M3� 0 Board of Commissioners - September 4, 2018 ITEM: 4 - 3 - 1 /1m k�, u u { U a D c - u v — o �— cN a U- fie 1 f L DO 1 - ■ ❑ ■ N — Q � d • _ - 4- N ./ u •YA 0 1 1 1 a a N Awl !�* % O O O n LO k"r� 'y 'y *ate ��- •i 0 O O LU a a N O t Z Q Q m Y oo V❑ o r i y. !> J O ,v 3 z ENTERPRISE DRS .= c z ❑ o a > u o N a O I 4 3 u ,_ I o > �. a 10 '_ rf if ff C .F. N a = � �N � `\ � II �C`� ❑ O c = KNVO L ❑ N W - � n Y t y STABLE wAY -0 �O O_ '.o a4 SNOW.Wd4�= -, u cv) U L L qO CAROL /N �ONY" M3� ❑ — f❑ \ Board of Commissioners - September 4, 2018 ITEM: 4 - 4 - 1 M J, r I W .7 N Z V \\I d W 3 0 Cie cr Z 't,' _ O �= 0 � _ C W ,ter ♦ ( 4 m M CIF m i _ Q V C N O o d) N� , c = �pN y � vJ �GKEN W \0 O ro i / M a R= V _ -- " V a CL = O N N � E V O V E O _ w N -:2 N (� Z) � X =1 E E V a 4— N O — C ' C a > N IN c V Z ONdH / N _ -- " V a CL = O N N � E V O V E O _ w N -:2 N (� Z) � X =1 E E V a 4— N O — C ' C a > N IN c V RPORp,�E °D .V Z / �p o- �t Q U Z oe. O LU V MERC�4 r C� W :- O C ON — --a Board of Commissioners - September 4, 2018 ITEM: 4 - 5 - 1 H W c Nf W 1w a cc W Z all I 1 O EN, I ERPRISE'DR— O Oo 00 �O OO.o �iJOJO ��V J O O J JJ U aa- 1NowiD- nao N L O APPLICANT MATERIALS Board of Commissioners - September 4, 2018 ITEM: 4 - 6 - 1 NEW HANOVER COUNTY DEPARTMENT OF PLANNING & LAND USE 230 Government Center Drive, Suite 110 Wilmington, North Carolina Telephone (910) 798 -7165 FAX (910) 798 -705 planningdevelopment.nhcg ov.com CONDITIONAL ZONING DISTRICT Application REVIEW PROCESS Step 1: Pre - Application Conference (Optional) In order to assist applicants through the conditional rezoning process, applicants are highly encouraged to contact staff to schedule a pre - application conference prior to application submittal. Applicants are requested to review the sections of the Zoning Ordinance specific to zoning amendments and conditional zoning districts prior to submission, and advised to contact Planning Staff with any questions. The following sections of the Zoning Ordinance pertain specifically to zoning amendments, and conditional zoning districts: • Section 55.3: Conditional Zoning District • Section 110: Amending the Ordinance • Section 1 11: Petition • Section 112: Approval Process Step 2: Community Meeting Prior to application, at least one community information meeting must be held, and a report summarizing the community information meeting is required as part of the application. The primary purpose of the community meeting is to explain the upcoming proposal and field questions from people in the surrounding area. The meeting should focus on information exchange between an applicant and the specific invitees but should be open to the general public as well. The community meeting shall comply with the following procedures: • Notification • Mailed Notice ■ The applicant must provide written notice by mail or other agreed upon measure at least ten days prior to the date of the community meeting. Notice shall be provided to each owner of record of land and any currenttenants within 500feetof and on the property for which development approvals are sought. • E- Mailed Notice ■ The applicant must provide the Department of Planning & Land Use with a completed community notice template in a digital format at least twelve days prior to the date of the community meeting. The notice will be provided to organizations entitled to notice based on a standing written request on file with the Clerk to the Planning Board ( "Sunshine List "). Written Summary The written summary of the community meeting included in the application must include, at a minimum the following: 1. A list of those that were not able to be contacted and reason(s) why contact was not successful; 2. Date, time and location of the meeting; 3. Roster of the persons in attendance at the meeting; 4. Summary of issues discussed at the meeting; and 5. Description of any changes or adjustments to the application made by the petitioner as a result of the community meeting. Board of Commissioners - September 4, 2018 Page 1 of 7 ITEM: 4 - 7 - conditional Zoning District Application — Updated 52017 Step 3: Application Submittal Applications must be received by the Department of Planning & Land Use by 5:00 PM on the application deadline date. A complete application consists of the items detailed in the submittal checklist provided in this application. A schedule of application deadlines is available at planningdevelopment.nhcgov.com or in the Department of Planning & Land Use office. Step 4: Staff Review and Recommendation Upon receiving a completed application, staff may distribute it to certain departments and agencies for review. County Planning staff will review the application, prepare a staff report, and provide a recommendation on the application. Staff may propose additional conditions and requirements beyond those listed in the petition /application. Step 5: Planning Board Review and Recommendation The New Hanover County Planning Board will consider the application at a public hearing. The Department of Planning & Land Use will notify the public of this hearing in accordance with standards of the Zoning Ordinance. This includes sending mailed notice to nearby residents, posting a sign on the subject property, and advertising the hearing in a local newspaper. The public hearing will allow staff, the applicant, proponents and opponents to testify in regards to the request. The Planning Board will make a recommendation to the County Commissioners.A recommendation for denial ends consideration of the proposed zoning amendment unless the recommendation is appealed. A recommendation for approval is automatically forwarded to the County Commissioners for action. The Planning Board may propose additional conditions and requirements beyond those listed in the petition /application. Step 6: Board of Commissioners Review and Action The New Hanover County Board of Commissioners will consider the application at a public hearing. The Department of Planning & Land Use will notify the public of this hearing in accordance with standards of the Zoning Ordinance. This includes sending mailed notice to nearby residents, posting a sign on the subject property, and advertising the hearing in a local newspaper. At the public hearing, the New Hanover County Board of Commissioners will consider the application along with the Planning Board's and staff's recommendation. Prior to adopting or rejecting any zoning amendment, the Commissioners shall adopt a statement describing whether or not the amendment is consistent with the County's Policies for Growth and Development and explaining why the Commissioners consider the action taken as reasonable and in the public interest. The Commissioners may propose additional conditions or requirements beyond those contained in the petition /application. • The applicant should keep this section of the application for reference. It is not required to be included in the completed application that is submitted to the County. Board of Commissioners - September 4, 2018 Page 2 of 7 ITEM: 4 - 7 - conditional Zoning District Application — Updated 52017 NEW HANOVER COUNTY DEPARTMENT OF PLANNING & LAND USE 230 Government Center Drive, Suite 110 Wilmington, North Carolina Telephone (910) 798 -7165 FAX (910) 798 -7053 planningdevelopment.nhcg ov.com CONDITIONAL ZONING DISTRICT Application Applicant /Agent Information Property Owner(s) If different than ApplicantlAgent Name Owner Name Shane Lippard John K McCorrrick Company Owner Name 2 Rght Angle Engineering, PC Address Address 212 PrinoessStreet 2716 Trademark Drive City, State, Zip City, State, Zip Wilmington, NC 28401 Wilmington, NC 28405 Phone Phone 910 -21 -8544 910- 769 -4137 Email Email raepcd @bellsouth.net n=rmickventuresllc@gn-ail.00m Subject Property Information Address /Location 4616 Coddington Loop Parcel Identification Number(s) 872611- 001 - 009 -000 Total Parcel(s) Acreage 1.15 Existing Zoning and Use(s) Planned Development Future Land Use Classification Employment Center Application Tracking Information (Staff Only) Case Number Date /Time received: Received by: Z17 -13 11/30/17 BS Board of Commissioners - September 4, 2018 Page 3 of 7 ITEM: 4 - 7 - conditional Zoning District Application — Updated 52017 Proposed Zoning, Use(s), & Narrative Proposed Conditional Zoning District: PD _ Total Acreage of Proposed District: 1_15 Only uses allowed by right in the corresponding General Use District are eligible for consideration within a Conditional Zoning District. Please list the uses that will be allowed within the proposed Conditional Zoning District, the purpose of the district, and a project narrative (please provide additional pages if needed). -fhisrequest isto rmdify the existing conditional use of the Northchase Industrial park to allow thissingle parcel to connect the driveway directly to Hwy 132. The original conditional use for the entire 751.55 acresthat made up Northchase, was predicated on the NCDOTallowing four roadway connectionsto Highway 132 and all Iotswithin Northchase would be connected acoordingly. The area haschanged significantly since thisconditional use of 1985 and the majority of properties have been built out. The proposed use on the site isfor equipment salesand repair which having a dedicated driveway would irrprove the businessvidbility, access, and deliveries by large trucks The proposed site plan depictsa right in/ right out driveway connection onto Highway 132 while also adding a concrete idand to prevent crossover access This proposed site plan has received no objection from the NCDOT. Proposed Condition(s) Within a Conditional Zoning District, additional conditions and requirements which represent greater restrictions on the development and use of the property than the corresponding General Use District regulations may be added. These conditions may assist in mitigating the impacts the proposed development may have on the surrounding community. Please list any conditions proposed to be placed on the Conditional Zoning District below. Staff, the Planning Board, and Board of Commissioners may propose additional conditions during the review process. No additional conditions are expected. Board of Commissioners - September 4, 2018 Page 4 of 7 ITEM: 4 - 7 - conditional Zoning District Application — Updated 52017 Traffic Impact Please provide the estimated number of trips generated for the proposed use(s) based off the most recent version of the Institute of Transportation Engineers (ITE) Trip Generation Manual. ATraffic Impact Analysis (TIA) must be completed for all proposed developments that generate more than 100 peak hour trips, and the TIA must be included with this application. ITE Land Use: General Light Industrial / SiDeaalty Fbtail Trip Generation Use and Variable (gross floor area, dwelling units, etc.): 5K/ 1 K AM Peak Hour Trips: 12 PM Peak Hour Trips: 8 CONSIDERATION OF A CONDITIONAL ZONING DISTRICT The Conditional Zoning District procedure is established to address situations where a particular land use would be consistent with the New Hanover County Land Use Plan and the Zoning Ordinance objective and where only a specific use or uses is proposed. The procedure is intended primarily for use with transitions between zoning districts of very dissimilar character where a particular use or uses, with restrictive conditions to safeguard adjacent land uses, can create a more orderly transition benefiting all affected parties and the community -at- large. The applicant must explain, with reference to attached plans (where applicable), how the proposed Conditional Use Zoning District meets the following criteria. 1. How would the requested change be consistent with the County's policies for growth and development? (For example: the Comprehensive Plan and applicable small area plans) - hisproject would benefit the siooessof a business by allowing visibility, connectivity, and aooessfor a local smll business owner. The current property has not been developed since the inception of Northchase. While not necessarily oonsdered infill, the development of this project would irrprove the built landscape along this stretch of Highway 132. 2. How would the requested Conditional Zoning District be consistent with the property's classification on the Future Land Use Map located within the Comprehensive Plan? The project is located directly adjacent to a growth node and within an ernployrr-ent center. This project would be consistent with the Future Land Use Ran. 3. What significant neighborhood changes have occurred to make the original zoning inappropriate, or how is the land involved unsuitable for the uses permitted under the existing zoning? Trafficchanges have ooa.rred since the original Conditional Use in 1985. The NCDOThasno objection to the proposed driveway connection. Board of Commissioners - September 4, 2018 Page 5 of 7 ITEM: 4 - 7 - `'conditional Zoning District Application — Updated 52017 APPLICATION REQUIREMENTS Staff will use the following checklist to determine the completeness of your application. Please verify all of the listed items are included and confirm by initialing under "Applicant Initial ". If an item is not applicable, mark as "N /A ". Applications must be complete in order to process for further review. Required Information Applicant Staff Initial Initial 1 Complete Conditional Zoning District application. SL BS 2 Application fee — ($600 for 5 acres or less, $700 for more than 5 acres. An -9- BS additional $300 fee must be provided for applications requiring TRC review). 3 Community meeting written summary. SL BS 4 Traffic impact analysis (for uses that generate more than 100 peak hour trips). NA N/ A 5 Legal description (by metes and bounds) or recorded survey Map Book and Page SL BS reference of the property requested for rezoning. 6 Site Plan including the following elements: • Tract boundaries and total area, location of adjoining parcels and roads. • Proposed use of land, structures and other improvements. For residential uses, this shall include number, height and type of units and area to be occupied by each structure and /or subdivided boundaries. For non- residential uses, this shall include approximate square footage and height of each structure, an outline of the area it will occupy and the specific purpose for which it will be used. • Development schedule including proposed phasing. • Traffic and Parking Plan to include a statement of impact concerning local traffic near the tract, proposed right -of -way dedication, plans for access to and from the tract, location, width and right -of -way for internal streets SL BS and location, arrangement and access provision for parking areas. • All existing and proposed easements, reservations, required setbacks, rights -of -way, buffering and signage. • The one hundred (100) year floodplain line, if applicable. • Location and sizing of trees required to be protected under Section 62 of the Zoning Ordinance. • Any additional conditions and requirements, which represent greater restrictions on development and use of the tract than the corresponding General Use District regulations or other limitations on land which may be regulated by State law or Local Ordinance. • Any other information that will facilitate review of the proposed change Ref. Article VII, as applicable). 7 1 hard copy of ALL documents AND 8 hard copies of the site plan. Additional hard BS copies may be required by staff depending on the size of the document site plan. 8 1 PDF digital copy of ALL documents AND plans. SL BS Board of Commissioners - September 4, 2018 Page 6 of 7 ITEM: 4 - 7 - conditional Zoning District Application — Updated 52017 ACKNOWLEDGEMENT AND SIGNATURES By my signature below, I understand and accept all of the conditions, limitations and obligations of the Conditional Zoning District zoning for which is being applied'. I understand that the existing official zoning map is presumed to be correct. I understand that I have the burden of proving why this requested change is in the public interest. I certify that this application is complete and that all information presented in this application is accurate to the best of my knowledge, information, and belief. If applicable, I also appoint the applicant /agent as listed on this application to represent me and make decisions on my behalf regarding this application during the review process. The applicant /agent is hereby authorized on my behalf to: 1. Submit an application including all required supplemental information and materials; 2. Appear at public hearings to give representation and commitments; and 3. Acton my behalf with tations with regard to any and all things directly or indirectly connected with or arising out of this applic ' n. John K. McCormick Vsignature of y mrner(s) Print Name(s) S� S�2�d Shane Lippard Signature of ficant /Agent Print Name NOTE: Form must be signed by the owner(s) of record. If there are multiple property owners a signature is required for each owner of record. If an applicant requests delay of consideration from the Planning Board or Board of County Commissioners before notice has been sent to the newspaper (approximately 2 -3 weeks before the hearing), the item will be calendared for the next meeting and no fee will be required. If delay is requested after notice has been sent to the newspaper, the Board will act on the request at the scheduled meeting and are under no obligation to grant the continuance. If the continuance 6 granted, a fee in accordance with the adopted fee schedule as published on the New Hanover County Planning website will be required. 1 a Page 7 of 7 C nditional Zoni District Application — Updated 5/2017 Board of Commissioners - September 4, 1�a 18 ITEM: 4 - 7 - 7 RIGHT ANGLE ENGINEERING, PC 212 Princess Street Wilmington, NC 28401 Tel. (910) 251 -8544 Fax (910) 251 -2208 Community Meeting Report DATE November 16, 2017 5pm PPROIECT 4616 Coddington Loop Conditional Zoning Modification REPORT BY Shane Lippard Right Angle Engineering distributed a mailing detailing the conditions of the project and Community Meeting. The mailing list was developed from New Hanover County tax records and 42 notices were mailed out November 2, 2017. Two mailings were returned undeliverable. The meeting was held at Northside Baptist Church Family life center. There were no public attendees at the meeting, only the Owner, Owner's Attorney, myself, and Brad Schuler with New Hanover County. The meeting was adjourned at 6 pm with no questions about the project. Board of Commissioners - September 4, 2018 ITEM: 4 - 7 - 8 Book 6046 Page 1763 BK: RB 6046 IIIIIIIIIIIIIIIII�IIIIIIIIIIIIIII�IIIII PG: 1763 -1766 2017009337 NC FEE $26.00 RECORDED: 03 -28 -2017 NEW HANOVER COUNTY, NC STATE OF NC 09:10:52 AM TAMMY THEUSCH BEASLEY REAL ESTATE By- ANDREA CRESWELL REGISTER OF DEEDS EXTX $166.00 ASSISTANT THIS DEED WAS PREPARED WITHOUT TITLE EXAMINATION PREPARED BY: SIEGEL & RHODENHISER, PLLC STATE OF NORTH CAROLINA Tax ID No.: R02611- 001 - 009 -000 COUNTY OF NEW HANOVER REVENUE STAMPS: $166.00 This property was not the Grantor's primary residence. Property Taxes are paid thru 2016. WARRANTY DEED THIS DEED, made this 17 day of di a r- c , 2017, by NORTH 132 LLC, a North Carolina limited liability company, of 1902 EASTWOOD ROAD, WILMINGTON, NC 28403, GRANTOR, to MCCORMICK VENTURES LLC, a North Carolina limited liability company, of 110 MCCORMICK LANE, WILMINGTON, NC 28411, GRANTEE; WITNESSETH: That said Grantor, for a valuable consideration paid by the Grantee, the receipt of which is hereby acknowledged, has bargained and sold, and by these presents does grant, bargain, sell and convey unto the Grantee in fee simple, all that certain lot, tract, or parcel of land situated in the County of NEW HANOVER and State of North Carolina, and more particularly described as follows: BEING -all of Lot 1 D -A of the NORTHCHASE PARK OF COMMERCE, (as shown on a subdivision plat of Lot ID), Section IA Revised, as the same is shown on a map thereof recorded in Map Book 38, at Page 226, of the New Hanover County Registry. TOGETHER WITH AND SUBJECT TO the 30 foot access and utility easement and a 20 foot drainage easement as shown on the above map. TOGETHER WITH AND SUBJECT TO that certain Declaration of Covenants for the NORTHCHASE PARK OF COMMERCE, recorded in Book 1491, at Page 1558, New Hanover County Registry, and the Grantor hereby waives and release unto the Grantee all rights to buy back the real property described herein, which right reserved by Grantor in Article XIII of said Declaration. Return t ®.0 . NMA MAh Board of Commissioners - September 4, 2018 ITEM: 4 - 7 - 9 Book 6046 Page 1764 TOGETHER WITH AND SUBJECT TO THAT CERTAIN Declaration of Joint Right -of -` Way Agreement recorded in Book 1897, at Page 1103, of the New Hanover County Registry. TO HAVE AND TO HOLD the aforesaid lot, tract, or parcel of land, and all privileges and appurtenances thereto belonging to the said Grantee in fee simple; subject, however, to the exceptions, reservations and conditions herein referred to. And the Grantor covenants with the Grantee, that Grantor is seized of said premises in fee and has the right to convey in fee simple; that the title is marketable and free and clear of all encumbrances; and that Grantor will warrant and defend the title against the lawful claims of all persons whomsoever except for the exceptions hereinafter stated. Title to the property hereinabove described is subject to the following exceptions: (a) subject to County and Local Zoning Ordinances; (b) subject to standard easements for utilities; (c) restrictive covenants of record, if any; (d) ad valorem taxes for current year. The designation Grantor and Grantee as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context. Board of Commissioners - September 4, 2018 ITEM: 4 - 7 - 10 Book 6046 Page 1765 IN WITNESS WHEREOF, the said Grantor has hereunto set his hand and seal, or if corporate, has caused this instrument to be signed in its corporate name by its duly authorized officers and its seal to be hereunto affixed by authority of its Board of Directors, the day and year first above written. JR. - MEMBER - MANAGER PARK5JDE WF INVESTORS, LLC - MEMBER -MANA STATE OF NORTH CAROLINA COUNTY OF ;J-e 0 Ala no%e- I, S-�vlr' f- S 1 ere I , a Notary Public in and for the State of North Carolina and County of tit W We, nuy e -_ , certify that JAMES E. WALLACE, JR. personally came before me this day and acknowledged that he is the Member - Manager of PARKWIDE WF INVESTORS, LLC, a North Carolina Limited Liability Company, which entity is Member - Manager of NORTH 132, LLC, a North Carolina limited liability company, and that by authority duly given and as the act of the Company, the foregoing instrument was signed in its name by its Member - Manager. -tz- Witness my hand and official seal this day of f l'l arc , 2017. Notary Kblic My commission expires: 7-5-, Z�) (Notary Seal) -- ST'EVEN F 81@QEL NOTARY PUBLIC STATE OF NORTH CAROLINA NEW HANOVER COUNTY NIY COMMISSION EXPIRES 09-08.2020 Board of Commissioners - September 4, 2018 ITEM: 4 - 7 - 11 Book 6046 Page 1766 TAMMY THEUSCH New Hanover County BEASLEY Register of Deeds Register of Deeds 320 CHESTNUT ST SUITE 102 - WILMINGTON, NORTH CAROLINA 28401 Telephone 910 - 798 -4530 - Fax 910 -798 -7716 P ®� I Vey: \ i U�1N7 "Y..b z � 7-1� * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * State of North Carolina Filed For Registration: Book: RB 6046 4 PGS Real Property Excise Tax Recorder: Document No: County of NEW HANOVER 03/28/2017 09:10:52 AM Page: 1763 -1766 $192.00 $26.00 $166.00 ANDREA CRESWELL 2017009337 DO NOT REMOVE! This certification sheet is a vital part of your recorded document. Please retain with original document and submit when re- recording. Board of Commissioners - September 4, 2018 ITEM: 4 - 7 - 12 El CERMFICATE OF ACCUR.-ACY & MAP-PING Brian N. Ho do certify thot. 'This Plat was drawn under my supervision from an actual survey made under my super-vision (deed description recorded in Map Book 35, page 28); thcit the bounduries not sufrxteyed ore.. clearly indicated; 'hot the rGt*fo of precision as 000,; that this plot wos prepared in 0 calculated is 1. UU accordance with G.S. 47-30 as amended. Witness my Q-f-iyfin,ul z5iyrtature, registration number and seat this 4th day of January A.D., 199-9. C MTIFICATE OF OMERS HIPS DEDICATION JURISDICTION %VV lit %S y\ C A P 0 J�� .Z.: 4:Y e,-- s S if "EAL L-3122 N-4 SUR'qe N. ON N 16"32'51" W 150 00" J�'"M� Gal P RIF- ED R -1.) 1 x I AD V 0 0 Ft D :E E D S FR 0 Jf 1�j . IN HI hwasy 132 - N 16032 1 51" W 215.512 (Total) COMM 45.001 170.51 AMMONS NORTHCHASE CORPORATION M.B. 31, Pg. 13 Iro N 16714!287' W z N 1- 6 64 N 0 0 I C: CD Lot 1 C r-t- *kL -,0 LOT ID—B LOT 1 D—A I = --% 4-1--o 11 M. B. 3 5, Pg.. 2 8 1< 'a 41,924 s.f. 533598 S.f. rn C14 (D (A 3 0 CD 0 ff) 10 144. Cn En U) LO LO CN ity Easement :9: Rai— 30' Access and Util ? V.- Cif C --- — --- 20' Drainage Easement co V 165.03 185.27' Elp S 17"06*36'-'E 35G.35" (Total) Control Comer Lot 1 A Utifilty Area New Hanover (County A0, Ap A I (we� herebv certify that I am (we are) the ownelr(s) of 4.-Ih.e J P roperty shown ond described hereon and that I (we) hereby acopt this p'on of subdivision with my (our) own frte-e consent and dedicate all streets, alleys, wcflks, parks, con,servation Space and other areas to pubt--ii-C. oir private use as noted. AH roa<js and drGinage easernents are ded"icated for pubiic -utility urposes. Further, I (we) certffy the land as show-n her A— P -eon is K located in the subdivision juris-diction off New Hanover County. OVIER: GULFSTREAtA SHOPP;,�G CENTER PROPERTIES, LLC BY: Date B Y_ CER11PIC47,6. OF REMS.TRATION BY THE REGISTER OF DEEDS STATE OF NORTIH CAROLINA NEW HANOVER CWNTY Flied for re istratlon on the doy of All 1999 at L_ 0�0 ock, —m. and dull _d_j In Map Book %V_at Page, Mary Sue OoW, Register of Deeds gel 4Z) ZT Project Location o A NOTES: —Boundary referenced to Map Book 35, Page 28. —All N.C. Grid monuments within 2000 feet of this property have been disturbed or destroyed. —All areas figured by coordinate method. —This. property is not located in the 100 Year Flood Boundary as verifled by Community Panel Number: 370168 0040 E, Map Revised September 3, '1992. —The purpose of 'Lhis plat is to subudiVide or, exinsting parcel of land 'in a county or municipality., that h an ordinance parcels of land. N M f aim Man N. Hobbs P.L.S. L-3122. CERTIFICATE OF APPRUVAL NBV HANOVER COUNTY PLANNING DEPT PLANNING DPE&OR DAtE Legend, 0 (EIP) Existing Iron Pipe 0 (NIP) New Iron Pipe El Existhig Concrete Monument BAR SCALE REVIEEW GFTFICM� CERTIFICATE Hanovow -00'56n L ty, 6:6�fiff�'thbt the map or plat to which 5.&tk Ln.c.) iew Office.- of Mew. Rev this certification is affixed meets all statutory Inc. reqlireme-nts for record' Review Offices -qq Date GERTIRCAM DISCLAIMING WATER/SENER SUITABILITY Notwith-standing N[ew Hanover County Approval o' the plat, lots I S11--lawn on said plat may n.cJt receipvte health depail,-tment approval Ic Site sewa - 1 idual water tor on cz ge disposal systems, nor for ind*V su-PPI Y sys�tems. 0 20t of -K, 0i a u tia 4 C.) P 120' kz� V Cape Fear Township New Hanover Couniy North Carolina SHEET: B. N. Hobbs b-1RVF-v-ED By- 1 0 f i DER A WN 8 Y.- QT I P! K. Sabin Subdivision SCALE: 4 0 VATE: Lot 1D, Sevction 'A PROJECT No,-. January 4, 1999 SURS-98696 "'.3URVEY FOR: -operties, LLC uultstream ShODPing Center Pf 5315 South College Road W*1 I m ington, North Carolina 28412 F Al mansm n, � 6-4n 7229 7RIGHTSVILLE AVEMUE SUITE 103 241 WILMINiGTON, NOR70H CARO-UNA 28403 TELEO (910) 256-0002 Mom 10.�== ME wit MR04. 4L ri Let r P PROPOSED SITE PLAN Board of Commissioners - September 4, 2018 ITEM: 4 - 8 - 1 I � I Q � I � � I 7 Q W � I I � I U � I cQ TOM HOSKINS LOT 70 -B MB 38, PG 226 NORTH COLLEGE Roe NC HVVY 132 200' PUBLIC R/ 30' ACCESS & TEL UTILITY EASEMENT T ABANDONED PER 0 PED DB 5160, PG 1614 ,SAN SEWER MANHOLE 4" WATER LINE RIM = 34.70' w —w w w —w w w —w w w —w w INV = 28.21 ' 8" PVC INV = 28.22' 20' DRAINAGE EASEMENT �G e� SS INV 18 " RCP / _ - - - -- WITH — = 31_83 — — — — — — — — CODDINGTON LOOP SAN SEWER MANHOLE (50' ACCESS AND RIM = 34.31 ' UTILITY EASEMENT PER INV = 22.68' (E) DB 5160, PG 1614) INV = 22.72' 8" PVC SS SS SS Board of Commissioners - September 4, 2018 ITEM: 4 - 9 - 1 Q W LLJ J W LLJ Z Z Ljj Z LQ ? �_ z° O Q U W j m Y l0 o Q L-j m Y -_j J ° Lij �' �' Q � W LL W W W W W W A Q O O Q 4 O Z Q- Q. Z cr) Z W Qr- CL o m CL Q- Q) o LQ v I I m zl ® (° Q O li ml 3 p O o LI I Z W I J NORTH COLLEGE Roe NC HVVY 132 200' PUBLIC R/ 30' ACCESS & TEL UTILITY EASEMENT T ABANDONED PER 0 PED DB 5160, PG 1614 ,SAN SEWER MANHOLE 4" WATER LINE RIM = 34.70' w —w w w —w w w —w w w —w w INV = 28.21 ' 8" PVC INV = 28.22' 20' DRAINAGE EASEMENT �G e� SS INV 18 " RCP / _ - - - -- WITH — = 31_83 — — — — — — — — CODDINGTON LOOP SAN SEWER MANHOLE (50' ACCESS AND RIM = 34.31 ' UTILITY EASEMENT PER INV = 22.68' (E) DB 5160, PG 1614) INV = 22.72' 8" PVC SS SS SS Board of Commissioners - September 4, 2018 ITEM: 4 - 9 - 1 c 0 rn c E 3 0 c I N N II U Z Z J 3- o �_ z° O Q U 3 O L m Y l0 o cn o L) (L W LL r ^O w W c c A �I W U A 3 °' Z �) O V O V U � Z W J > Q A Y W ¢ H CD CD w Zo U U cu ° o ON M U ¢ W ► W ° ( ) W o Q o ° o o (vU Q V) U ¢ N o °�° 0 °°° UU , .� U¢aU¢ �� .. 0� YACU C> .. 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Subject: Z17 -13 Northchase Driveway Modification Attachments: Policy on Street and Driveway Access.pdf Brad, As discussed, NCDOT supports New Hanover County in the denial of an additional driveway on NC 132 (N. College Road). As each and every additional driveway along Wilmington's already congested major corridors represents an additional conflict point creating undue impairment of safety, mobility, and utility of the highway, the number of street and driveway connections permitted to serve a single property or commercial development along a State maintained roadway will be the minimum deemed necessary by the NCDOT for reasonable service to the property. Guidance from NCDOT's "Policy On Street And Driveway Access to North Carolina Highways" stipulates that NCDOT may deny access to the adjacent public roadway from "out lots" or "out parcels" of a larger development where reasonable access can be provided via the larger development's internal circulation system. The NCDOT may require construction of an internal street system or service road to eliminate or reduce multiple lot access connections directly to the adjacent public roadway system (Pg. 36). As the county has brought to our attention, this subject parcel is part of the overall larger development and therefore should be served internally. Please let me know if you have any additional questions. Thanks, Benjamin T. Hughes, PE District Engineer Division of Highways I Division 31 District 3 North Carolina Department of Transportation (910) 398 -9100 F `PLEASE NOTE NEW PHONE NUMBER bthughes @ncdot.gov 300 Division Drive Wilmington, NC 28401 FinaiI colreepcndeI ce to and from this serider is subject tc. the N.C. Public IZer�ords a and may be disclos €d to Ilmd partiEs. Board of Commissioners - September 4, 2018 ITEM: 4 - 11 - 1 NEW HANOVER COUNTY BOARD OF COMMISSIONERS REQUEST FOR BOARD ACTION MEETING DATE: September 4, 2018 DEPARMVI NR Planning PRESEVMgS): Ben Andrea, Current Planning and Zoning Supervisor (Planning Board Rep: Paul Boney) CONI'ACT(S): Ben Andrea; Ken Wier, Planning Manager SUBJECT: Public Hearing Rezoning Request (Z18 -12) — Request by College Road Development Partners, LLC, Property Owner, to Revert 8.04 Acres of Land Located in the 2600 Block of N. College Road from (CUD) R- 10, Conditional Use Residential District, to B -2 and R -15 Zoning Pursuant to Section 55.2 -6 of the New Hanover County Zoning Ordinance 1:1:710 Ol.`illuluM.�•A The subject property is currently within an R -10 Conditional Use District (CUD) that was approved in May 2016 for an 88 -unit apartment development. No progress has been made on developing the site, and the property owner requested that the Planning Board send a recommendation to the Board of Commissioners to rezone the property back to the B -2 and R -15 zoning of the property that was in effect prior to the existing CUD being approved. The applicant's request is enabled by Section 55.2 -6(1) of the Zoning Ordinance, which authorizes the Planning and Land Use Department to schedule a hearing for the Planning Board to consider progress made on the approved (CUD) R -10: ff within 24 months from the date of approval of the Conditional Use District, no building permit has been issued for the subject tract, the Planning and Land Use Department may schedule a hearing for the Planning Board to consider progress made. If it is determined that active efforts are not proceeding, the Planning Board may send forward a recommendation to the County Commissioners to simultaneously revoke the Special Use Permit and rezone the Conditional Use District to its classification prior to approval. Because a rezoning may occur based on the applicant's request, the application is being processed as a general map amendment from the existing (CUD) R -10 district to R -15 with a 300' deep strip of B -2 running parallel to N. College Road, including public hearings and a staff analysis and recommendation. Because over 24 months have passed since the CUD was approved, the companion Special Use Permit (SUP) for the CUD has expired per the Zoning Ordinance. In February 2017 the Planning Board recommended approval of a rezoning request to develop a self - storage facility on the subject property. The rezoning request was denied by the Commissioners at their March 2018 meeting. With an expired SUP for the existing CUD and the unsuccessful rezoning request last year, the applicant is now requesting that the zoning of the property be reverted back to R -15 and B -2 as it was prior to the CUD approval in 2016. Uses that would be allowed on the property are those allowed by right or by Special Use Permit in the R -15 and B -2 districts based on the Table of Permitted Uses in the Zoning Ordinance. Any proposed use would be Board of Commissioners - September 4, 2018 ITEM: 5 reviewed for zoning compliance prior to development. The Zoning Ordinance has requirements for building setbacks, buffering, parking, landscaping, and lighting that must be complied with and are intended to mitigate the impacts from a non - residential use adjacent to a residential use. No site plan or proposed use accompany this rezoning request, and no conditions may be added to the approval. Traffic impacts will be analyzed at the time a development is proposed. Any use that exceeds 100 AM or PM peak hour trips will be required to have an approved TIA prior to development. Even if a TIA is not required, improvements may be required when any proposed use is reviewed by NCDOT during the driveway permitting process. The 2016 Comprehensive Land Use Plan classifies the subject property as Community Mixed Use. This Place Type focuses on small- scale, compact, mixed use development patterns that serve all modes of travel and act as an attractor for county residents and visitors. Types of appropriate uses include office, retail, mixed use, recreational, commercial, institutional, and multi - family and single - family residential. Staff concludes that the proposed reversion to B -2 and R -15 zoning is generallyCONSISTENT with this place type because it would allow the types of services for nearby residents recommended in the comprehensive plan. The uses allowed in the requested zoning could provide for the needs of adjacent residential neighborhoods and/or provide higher density residential housing to transition to the adjacent lower density residential areas. The requested reversion to B -2 and R -15 zoning could allow for the types of lower - intensity commercial services appropriate for a Community Mixed Use area at the edge of major nodes, and development regulations would require landscaping buffers along residential properties, visually separating and mitigating any effects for the adjacent neighborhood. The Planning Board considered this application at their August 2, 2018 meeting. At the meeting, no members from the public spoke in support or opposition to the request. The Planning Board recommended approval (4 -0) of the application, finding that it is: 1. Consistent with the purposes and intent of the Community Mixed Use place type in the 2016 Comprehensive Plan because B -2 and R -15 zoning could provide a full mix of uses for the are 2. Reasonable and in the public interest because the R -15 zoning along with the setbacks and buffers required in the B -2 zoning would mitigate any negative impacts to the adjacent residential uses. STRAT RAC PLANAHU1A1UNr- Intelligent Growth and Economic Development • Implement plans for land use, economic development, infrastructure and environmental programs RECOIV 40-DED MOTION AND REQUESTED ACTIONS: Staff recommends approval and suggests the following motion: Motion to approve, affirming the Planning Board's statements that the application is consistent with the Comprehensive Plan and is reasonable and in the public interest. ATTACH ANIS: Z18 -12 Script Z18 -12 Staff Summary Z18 -12 Neighbor Properties Map Z18 -12 Zoning Map Board of Commissioners - September 4, 2018 ITEM: 5 Applicant Mater a ?FCover Page Z18 -12 Request Letter COUNTY MANAGE 'S COATWENIS AND RECOMrW%DAT1ONS: (only Manager) Recommend approval as presented by staff. CONMSSIONHRS' ACIIONS: Tabled 5 -0. Board of Commissioners - September 4, 2018 ITEM: 5 SCRIPT for Zoning Map Amendment Application (Z18 -12) Request by College Road Development Partners, LLC, property owner, to revert 8.04 acres of land located in the 2600 block of N. College Road from (CUD) R -10, Conditional Use Residential District, to B -2 and R -15 zoning pursuant to Section 55.2 -6 of the New Hanover County Zoning Ordinance. This is a public hearing. We will hear a presentation from staff. Then the applicant and any opponents will each be allowed 15 minutes for their presentation and additional 5 minutes for rebuttal. 2. Conduct Hearing, as follows: a. Staff presentation b. Applicant' s presentation (up to 15 minutes) c. Opponent's presentation (up to 15 minutes) d. Applicant's rebuttal (up to 5 minutes) e. Opponent's rebuttal (up to 5 minutes) 3. Close the public hearing 4. Board discussion 5. Vote on the application. The motion should include a statement saying how the change is, or is not, consistent with the land use plan and why it is, or is not, reasonable and in the public interest. Staff Suggested Motion: Motion to approve, affirming the Planning Board's statements that the application is consistent with the Comprehensive Plan and is reasonable and in the public interest. Alternative Motion for Approval /Denial: Motion to [Approve /Deny], as the Board finds that this request for a zoning map amendment of 8.04 acres from (CUD) R -10, Conditional Use Residential District, to a B -2, Highway Business District, and R -15, Residential District, as described is: 1. [Consistent /Not Consistent] with the purposes and intent of the 2016 Comprehensive Plan because IDescribe elements of controlling land use plans and how the amendment is or is not consistentl. 2. [Reasonable /Not Reasonable] and in the public interest because (Briefly explain why. Factors may include public health and safety, character of the area and relationship of uses, applicable plans, or balancing benefits and detrimentsl. Z1 8-1 2 STAFF SUMMARY ZONING MAP AMENDMENT APPLICATION APPLICATION SUMMARY Case Number: Z18 -1 2 Request: Reversion of zoning from (CUD) R -10 to B -2 and R -15 pursuant to Section 55.2 -6 of the Zoning Ordinance Applicant: Property Owner(s): College Road Development Partners, LLC College Road Development Partners, LLC Location: Acreage: 2608 N. College Road 8.04 acres PID(s): Place Type: R03408- 001 - 002 -000 R03408 -001 - 003 -000 Community Mixed Use R03408- 001 - 004 -000 Existing Land Use: Proposed Land Use: Undeveloped (approved for 88 apartment The property would be allowed to be units) developed in accordance with the B -2 and R -15 district standards Current Zoning: Proposed Zoning: (CUD) R -10 Conditional Use Zoning District B -2 and R -15 ;' ,�,Q,■ j � F Z1 8 -1 2 0 +i of, m (CUD} R -10 4 Ns [0 &1 /•(CUD} B!2 g �� R -10 7 New Hanover County, NC SURROUNDING AREA LAND USE ZONING North Institutional (Laney High School) R -15 East Single Family Residential R -15 South Commercial (Taco Bell) B -2 West Undeveloped; Barber Shop, Electronics Repair S op p R -15, 0&1 Z18 -1 2 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 5 - 2 - 1 Page 1 of 9 ZONING HISTORY Water /Sewer July 7, 1972 Initially zoned R -20 July 13, 1998 300' strip adjacent to N. College Rd rezoned to B -2 May 2, 2016 Rezoned from B -2 and R -15 to (CUD) R -10 for 88 apartments April 3, 2017 Z17 -01 request to rezone to (CZD) B -2 denied COMMUNITY SERVICES Water /Sewer Water and Sewer is available through CFPUA Historic New Hanover County Fire Services, New Hanover County North Fire Fire Protection No known archaeological resources District Castle Hayne Elementary, Eaton Elementary, Trask Middle, and Laney High Schools schools Recreation Olsen Park CONSERVATION, HISTORIC, & ARCHAEOLOGICAL RESOURCES Conservation No known conservation resources Historic No known historic resources Archaeological No known archaeological resources Z18 -1 2 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 5 - 2 - 2 Page 2 of 9 CURRENT APPROVED SITE PLAN & CONDITIONS • The existing (CUD) R -1 0 Conditional Use Zoning District was approved on May 2, 2016 and allows for an 88 -unit apartment complex in four buildings on the site. • The following conditions were placed on the approved rezoning: 1. A 10' multi -use path shall be installed along N. College Road in accordance with the Wilmington /New Hanover County Comprehensive Greenway Plan. The multi- use path shall be constructed to the adjoining properties and shall include any necessary crosswalks, boardwalks, or bridges. 2. Existing vegetation must remain within the rear buffer and be supplemented as necessary to provide the 100% visual opacity requirement. HelsE MAY D0 G6.4495 /// d5 � �'d =real R ®r�.,a / UniYCd �'(m�.� Metlwdiat 7va�e?1 X —Sec v �� P j B� 1y r 11 �aa . 1 -- I I I I I I 2a.LMltc �£ Jbhs L •�I 1 I I E I ♦ Y � a II a' I y �_, =.,A.. _-- t -- _ W "10. 4T (Tk LLx) \` N. Cottege Rd. / NC Hwy. 132 "'' ' (200' Publl� R /A) t — Z18 -12 Staff Summary BOC 9.4.2018 Page 3 of 9 Board of Commissioners - September 4, 2018 ITEM: 5 - 2 - 3 Z17 -01 REZONING PROPOSAL (FROM 2017) • A request to rezone the property from the (CUD) R -10 to (CZD) B -2 was submitted in February 2017 (Case Z17 -01). • The proposal included 72,850 square feet of self- storage units in four buildings, along with access drives and parking to serve the development. • The rezoning request was recommended for approval by the Planning Board but denied by the Board of Commissioners. • Because the Z17 -01 rezoning request was denied, the property remains in the (CUD) R -10 Conditional Use Zoning District that was approved in 2016 for 88 apartment units. ZONING ORDINANCE CONSIDERATIONS FOR CURRENT PROPOSAL • This request from the property owner is to consider reverting the property from the existing (CUD) R -1 0 for the 88 -unit apartment complex to the B -2 and R -1 5 zoning that it was prior to the (CUD) R -10 being approved in 2016. • Prior to the approval of the existing (CUD) R -10 district, the subject site was zoned R -15 with a 300' deep strip of B -2 running parallel to N. College Road that was applied in 1998. • Section 55.2 -6(1) in the Zoning Ordinance authorizes the Planning and Land Use Department to schedule a hearing for the Planning Board to consider progress made on the approved (CUD) R -10. The Planning Board may send a recommendation to the County Commissioners to rezone the property back to its previous zoning if the Board determines that active efforts are not proceeding: If within 24 months from the date of approval of the Conditional Use District, no building permit has been issued for the subject tract, the Planning and Land Use Department may schedule a hearing for the Planning Board to consider progress made. If it is determined that active efforts are not proceeding, the Planning Board may send forward a recommendation to the County Commissioners to simultaneously revoke the Special Use Permit and rezone the Conditional Use District to its classification prior to approval. • Because a rezoning may occur based on the applicant's request, the application is being processed as a general map amendment from the existing (CUD) R -10 district to R -15 with a 300' deep strip of B -2 running parallel to N. College Road, including public hearings and a staff analysis and recommendation. • Because it has been over 2 years since the (CUD) R -10 has been approved and no validity extensions were requested, the companion Special Use Permit has expired per Section 71 - 1 (1) of the Zoning Ordinance. • Because this is a general map amendment and not a conditional rezoning, uses that would be allowed on the property are those allowed by right or by Special Use Permit in the B -2 and R -15 districts based on the Table of Permitted Uses in the Zoning Ordinance. • The building setback in the B -2 portion of the property that is adjacent to R -15 zoning would be a minimum of 30' or 2.75 x Building Height, whichever is greater. • The buffer required along the B -2 portion of the property line that is adjacent to R -15 zoning would be a minimum of 20' wide and must provide 100% opacity using vegetation, vegetation with fencing, or vegetation with a berm. • All lights must be shielded in a manner so that light from the fixture does not directly radiate into adjacent property. Z1 8-12 Staff Summary BOC 9.4.2018 Page 4 of 9 Board of Commissioners - September 4, 2018 ITEM: 5 - 2 - 4 TRANSPORTATION • Access to the site is via an existing driveway serving the subject site as well as the existing fast food restaurant (Taco Bell). • A Traffic Impact Analysis was completed for a development proposal on this property in 2013, which included a fast -food restaurant and a mixed -use building consisting of 120 dwelling units and office /retail space. The existing driveway and center turn lane were installed after that TIA was performed. • An updated TIA was not required for the 2016 or 2017 rezoning proposals because the proposed developments did not exceed 100 peak hour trips. • A bus stop for WAVE Transit route 207 is located on southbound N. College Road approximately 500' south of the property across from Long Ridge Drive. • Traffic impacts will be analyzed at the time a development is proposed. Any use that exceeds 100 AM or PM peak hour trips will be required to have an approved Traffic Impact Analysis (TIA) prior to development. Even if a TIA is not required, improvements may be required when any proposed use is reviewed by NCDOT during the driveway permitting process. Traffic Count — June 19, 2017 Road Location Volume Capacity V/C N. College Road 2400 block 31,524 29,300 1.08 Z18 -1 2 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 5 - 2 - 5 Page 5 of 9 Nearby Planned Transportation Improvements and Traffic Impact Analyses Traffic Impact Analyses Nr �a >. ■ " 1 Mile Radius mF � rr Approved Under Review j�N YppRZ + *� S SECU Under Graft TIA Approved 701 SINCE 0 rA a� a � pry .� • PENNrN�TpN f \ Z � H – � L L ► � G 0 ♦` - (_ ``�44p �6 FFRNOA�F 1 :G h Sr ♦ � ,��F, OIy.M+'�*� w p °� r11 �� FP' Dunkin Donuts ■'�� 1 ,�.'� —•� TIA Approved -�� .i.�.� •_ /S \i,i 1 gym. SHIRE ys ■ 7z • BUSINESS -'p ■ aloGUy Wave Bus Stop - �0 ° 4 h STI P P ro j ecr F4��? � ■ z n r '� • I — � SHAW qCR � n 6GALE Q _ Greenway Plan Recommendations E Mlles o eioe 0 0.25 0.5 o m Bicycle Lane -■- Greenway - Sharrow r Nearby Traffic Impact Analyses: Traffic Impact Analyses are completed in accordance with the WMPO and NCDOT standards. Approved analyses will expire if the proposed development is not completed by the build out date established within the TIA. Proposed Land Use /Intensity TIA Status Development 1. Dunkin Donuts • 3,200 sq. ft. fast food • TIA approved April 14, 2015 restaurant with drive -thru • 2016 Buildout year Z1 8-12 Staff Summary BOC 9.4.2018 Page 6 of 9 Board of Commissioners - September 4, 2018 ITEM: 5 - 2 - 6 The TIA required improvements be completed at certain intersections in the area. The major improvements consisted of: • Construct an eastbound right -turn lane with appropriate taper on Murrayville Road at the shopping center driveway. Per NCDOT, the improvements required at this time have been installed in accordance with their standards. Nearby Proposed Developments included within the TIA: • None Development Status: Building Completed Proposed Land Use /Intensity TIA Status Development 2. State Employees • 8,526 sq. ft. bank with drive- • TIA approved December 17, 2015 Credit Union thru • 2017 Buildout year The TIA required improvements be completed at certain intersections in the area. The major improvements consisted of: • Optimize signal timing at N. College Road and Northchase Parkway SE intersection. • Construct an eastbound right turn lane with 100' of storage on Northchase Parkway SE at the site driveway. Per NCDOT, the improvements required at this time have not yet been installed in accordance with their standards. Nearby Proposed Developments included within the TIA: • None Development Status: Building and site currently being developed. ENVIRONMENTAL • Portions of the property are within the AE Special Flood Hazard Area with a Base Flood Elevation of around 32 feet; the area around the stream is AE Floodway. • Stormwater management will be reviewed by the New Hanover County Engineering Department and by the NC Department of Environmental Quality. Any development will utilize, and improve as required, the existing stormwater pond located on the site and create a second pond to manage runoff. • The stream on the property is subject to additional buffering standards required by the NC Division of Water Resources. • The subject property is within the Smith Creek (C;Sw) watershed. Z18 -1 2 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 5 - 2 - 7 Page 7 of 9 2016 COMPREHENSIVE LAND USE PLAN • The New Hanover County Future Land Use Map provides a general representation of the vision for New Hanover County's future land use, as designated by place types describing the character and function of the different types of development that make up the community. Specific goals of the comprehensive plan are designated to be promoted in each place type, and other goals may be relevant for particular properties. Future Land Use Community Mixed Use Map Place Type Focuses on small - scale, compact, mixed use development patterns that serve Place Type all modes of travel and act as an attractor for county residents and visitors. Description Types of appropriate uses include office, retail, mixed use, recreational, commercial, institutional, and multi - family and single - family residential. Community Mixed Use areas are generally intended to include a mixture of uses. The subject property is located along N. College Rd., immediately adjacent to both existing auto - oriented businesses, Laney High School, and a residential neighborhood. It is located at the edge of a node at N. College and Bavarian/Murrayville and near the Northchase planned Consistency development. Ideal uses for this property would provide for the needs of Analysis adjacent residential neighborhoods and /or provide higher density residential housing to transition to the adjacent lower density residential areas. The requested reversion to B -2 and R -15 zoning could allow for the types of lower- intensity commercial services appropriate for a Community Mixed Use area at the edge of major nodes, and development regulations would require landscaping buffers along residential properties, visually separating and mitigating any effects for the adjacent neighborhood. Consistency The proposed reversion to B -2 and R -15 zoning is generally CONSISTENT Recommendation with this place type because it would allow the types of services for nearby residents recommended in the comprehensive plan. Z18 -1 2 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 5 - 2 - 8 Page 8 of 9 PLANNING BOARD ACTION The Planning Board considered this application at their August 2, 2018 meeting. At the meeting, no members from the public spoke in support or opposition to the request. The Board recommended approval (4 -0) of the application, finding that it is: 1 . Consistent with the purposes and intent of the Community Mixed Use place type in the 2016 Comprehensive Plan because B -2 and R -15 zoning could provide a full mix of uses for the area. 2. Reasonable and in the public interest because the R -15 zoning along with the setbacks and buffers required in the B -2 zoning would mitigate any negative impacts to the adjacent residential uses. STAFF RECOMMENDATION Staff recommends approval of the application as stated in the Planning Board's action. Staff concurs with the Planning Board's statements that the application is consistent with the Comprehensive Plan and is reasonable and in the public interest. Z18 -1 2 Staff Summary BOC 9.4.2018 Board of Commissioners - September 4, 2018 ITEM: 5 - 2 - 9 Page 9 of 9 Case: Site Address: Z18 -12 2600 block N College Rd O,P �NEALY, S� D O NFw VILL"AGE� 2 Existing Zoning/Use: (CUD) R -10/ Undeveloped PPP E pR 0 Z rt J KENNE C 1 - Moe&er 4, 2( - 7 .�- - _ ;►RIAN KERR AVE N� I A [ -1 li R1�GE � �O �G� A /2. 218-12 Proposed Zoning/Use: B- 2/R -15 a '- za a � z o c� 0% u �AORATE�� i s 0, QP� Location R -15 CUD 10 2601 132 2700 4A2605 4321 E 124 122 �Qy 128 4312 148 r - 0 AR M CUD -I- R -10 -/ MURRAYVILLE RD Physical Address CRANBROOK DR 1951 CORPORATE DR LONG RIDGE DR 2608 LONG RIDGE DR COLLEGE RD N 140 LONG RIDGE DR PIE 4304 LONG RIDGE DR HENSON DR 2500 COLLEGE RD N LONG RIDGE DR 136 COLLEGE RD N LONG RIDGE DR 4308 MURRAYVILLE RD 0 4300 COLLEGE RD N a 93 LONG RIDGE DR LONG RIDGE DR 144 COLLEGE RD N COLLEGE RD N 2623 COLLEGE RD N LONG RIDGE DR 2519 0 AR M CUD -I- R -10 -/ MURRAYVILLE RD Physical Address CRANBROOK DR 1951 CORPORATE DR LONG RIDGE DR 152 LONG RIDGE DR COLLEGE RD N 114 LONG RIDGE DR CRANBROOK DR 118 LONG RIDGE DR HENSON DR 2500 COLLEGE RD N LONG RIDGE DR 2520 COLLEGE RD N LONG RIDGE DR 5725 MURRAYVILLE RD LONG RIDGE DR 2624 COLLEGE RD N HENSON DR 93 LONG RIDGE DR LONG RIDGE DR 2610 COLLEGE RD N COLLEGE RD N 2618 COLLEGE RD N LONG RIDGE DR 105 LONG RIDGE DR HENSON DR 109 LONG RIDGE DR COLLEGE RD N 129 LONG RIDGE DR LONG RIDGE DR 133 LONG RIDGE DR HENSON DR 137 LONG RIDGE DR HENSON DR 141 LONG RIDGE DR LONG RIDGE DR 145 LONG RIDGE DR COLLEGE RD N 149 LONG RIDGE DR COLLEGE RD N Case: Site Address: Z18 -12 2600 block N College Rd 1 A ✓I 7 Existing Zoning/Use: (CUD) R -10/ Undeveloped Q 0. KENN 0 d J �O Z18 -12 D' O 4 Proposed Zoning /Use: B- 2/R -15 a '- z3 c� a c�c a0 u i R -15 Vow MURRAYVILLF RD ,9 . 0-1.1 0.F < <O p _ — Water Main Sewer Main . TREE G� `�P "•F R -10 Zoning Districts ��ti off` ❑ A -I ❑ EDZD ■ PD ❑ R -20S ❑ SC G ❑ AR ❑ I 1 R -10 RA B -1 ■ I -2 R -15 RFMU B -2 ❑ O &I R -20 ❑ R -7 D 0� ® Indicates Conditional Use District (CUD) ®Indicates Conditional Zoning District (CZD) ❑ Incorporated Areas ❑ SHOD y, NC Case: Z18 -12 O EAL PV r_ Site Address: 2600 block N College Rd S� Q a GNFw VILLAGVNN s O'P D Z 1 KERR- V 0 0 Op Ng o0y, Gam' DR 1 Kjorrr -JO 11 mul Existing Zoning/Use: (CUD) R -10/ Undeveloped oANNy PtoCt pR KENN J Proposed Zoning/Use: 13- 2/11-15 Place Types ❑ COMMERCE ZONE ❑ COMMUNITY MIXED USE 3 CONSERVATION o❑ EMPLOYMENT CENTER ❑ c► ' GENERAL RESIDENTIAL 0 'oORAfE�� ❑ RURAL RESIDENTIAL OvSyL�,c� ❑ URBAN MIXED USE QP� Z18 -12 / GENERAL RESIDENTIAL �_Ii� 46 J RID QP �q��G 4E_ _E C� may/ �20� s� ACT G� �F lip C? t► 2� O `A 1 r� s 6,POO9``O \ VIP, o New Hanove'Wunty, NC APPLICANT MATERIALS Board of Commissioners - September 4, 2018 ITEM: 5 - 6 - 1 College Road Development Partners, LLC 6626 -C Gordon Road Wilmington, ETC 28411 July 11, 2018 VIA HAND DELIVERY New Hanover County Planning & Land Use Department c/o Wayne Clark, Planning & Land Use Director 230 Government Center Drive, Suite 110 Wilmington, NC 28403 RE: Request for Hearing and Revocation of Special Use Permit and rezoning of Conditional Use District of property located at 2608, 2618 and 2624 N. College Road, Wilmington NC ( "Property "). This letter serves as a request on behalf of College Road Development Partners, LLC, as Owner of the Property and pursuant to section 55.2 -6 of the New Hanover County Zoning Ordinance, that the Planning and Land Use Department schedule a hearing with the New Hanover County Planning Board ( "Planning Board ") on August 2, 2018 at 6:00 p.m. to consider the progress made under the R -10 Conditional Use District ( "CUD ") and related Special Use Permit ( "SUP" together with the CUP, collectively, the "Apartment Complex Rezoning ") approved by New Hanover County on May 2, 2016 allowing for an 88 unit high density apartment complex on the Property. After the Apartment Complex Rezoning, and as a result of rising cost of materials associated with pending changes anticipated in the flood zone located on the Property, Owner caused a market study to be completed to determine what other uses might be suited for the Property. The market study indicated that a quality temperature controlled self - storage would be well suited for the Property. Thereafter, Owner requested that the Property be rezoned to a B -2 Conditional Zoning District (`B -2 CZD Request ") in order to develop the Property for self - storage. The B -2 CZD Request was approved by the Planning Board by a vote of 6 -0 on March 2, 2017, however on April 3, 2017, the New Hanover County Board of Commissioners ( "County Commissioners ") denied the B -2 CZD Request by a vote of 4 -1. No active efforts to development the 88 unit high density apartment complex have or are proceeding on Property because it is not economically feasible to do so and more than twenty -four (24) months have passed since the Apartment Complex Rezoning. Prior to the Apartment Complex Rezoning, the Property was zoned both B -2 and R -15, with the B -2 being located along those portions of Property abutting North College Road and R -15 being located behind the B -2. Owner requests that the Planning Board send a recommendation to the County Commissioners for simultaneous revocation of the SUP and rezoning of the CUD to the B -2 and R -15 classifications in place prior to Apartment Complex Rezoning. cc: GSP Consulting, PLLC With regards, CO G AD DEVELOPMENT PARTNERS, LLC DAM SOSNE Board of Commissioners - September 4, 2018 ITEM: 5 - 7 - 1