AGENDA #3a(1)

Original Message ----------------------------------------------------------
Subject: Postpone All Lot #5 Approvals Pending Publishing Environmental and
              Financial Report
From:    [email protected]
Date:    Thu, March 29, 2007 3:41 pm
To:      [email protected]
Cc:      [email protected]
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Mayor and Town Council,
 
I'm petitioning Council to postpone ANY further approvals for the Lot #5 Downtown Development Initiative:
 
1)      until the environmental assay of Lot #5 is 100% completed. This would include any recommended
        follow up tests, such as monitoring wells, further core sampling, ground-radar location of
        tanks or other structures, etc.
 
2)      until the results of the environmental assay have been independently reviewed.
 
3)      until the results, the independent review, the methodology, data, assumptions, geologic maps
        and any other factors used to derive the results have been published 7 days prior to the
        approval meeting.
 
4)      until an initial estimate and plan for the environmental remediation, if necessary, has been
        developed.
 
5)      until the estimate, the methodology, data and assumptions going into that cost estimate have
        been published 7 business days prior to the approval meeting.
 
6)      until a financial impact statement, including additional costs, borrowings and wider effects
        on the Town's financial well-being has been developed.
 
7)      until the estimated financial impact and methodology, data and assumptions going into that
        evaluation have been published 7 business days prior to the approval meeting.
 

It also appears that the underlying geology of Lot #5 might be rockier than expected. If this is so, Council should also postpone further approvals pending an evaluation of increased costs to the developer and taxpayers of Chapel Hill.

Considering that an expensive environmental remediation might significantly and adversely impact our Town's finances, and, in combination with Lot #5's current taxpayer obligations, possibly necessitate either a substantial tax increase or reduction in services or both, the fiscally prudent course of action is to wait until the facts are reported and the conclusions reviewed by the wider public.

Finally, I would like to highlight the importance of giving the public at least 7 business days of notice.  Our citizens are already concerned about the trajectory this project has so far taken.

Some of the greatest concern has come from financial, urban planning, environmental, energy and commercial real-estate experts.

Let's give our talented citizenry the opportunity for a careful, measured evaluation of the Town's reports and extend the courtesy of providing a reasonable amount of time to draft a response.

Rushing the project forward without disclosing further anticipated financial obligations does our citizenry a disservice.

Thank you,

Will Raymond