Date: Fri, 28 Feb 2014 20:11:12 -0500
From: “Pat Lloyd”
Subject: Why Pittsboro Must Shape Chatham Park
The News and Observer on February 6th published an editorial entitled . Pittsboro must shape massive Chatham Park development. The reasons for this are many including the ages of the principals Tim Smith, Bubba Rawls and their banker Dr. Goodnight.
Public records state Messrs. Rawls and Smith are 65. Dr. Goodnight of SAS Institute is 71. Does anyone think these rich, elderly, white gentlemen will be heavily involved in Chatham Park over the 30 – 40 years it will take to complete the development? Most people would say .NO.
As such, Pittsboro needs to take action now ensuring the development will fully protect the interests of Pittsboro area residents. This includes protecting the economic viability of downtown Pittsboro and Jordan Lake water quality. These and many more interests must be protected before the 7,120 acres is rezoned and the Chatham Park Master Plan is approved. For starters, Pittsboro must create a more complete Planned Development District ordinance, require a much more complete Chatham Park Master Plan and negotiate a Development Agreement that fully protects the interest of Pittsboro and Chatham County.
Then, when Messer Rawls, Smith and Goodnight leave the scene in perhaps 10 – 12 years, we could be more certain that if Chatham Park fails, local tax payers will not be on the hook. Here failure could be the result of the new 50 year Research Triangle Park Master Plan which certainly will make the commercial and industrial goals of Chatham Park more difficult to achieve. And least we forget the lessons of the 2008/2009 financial collapse, we all should be prepared for the upcoming Great Recession Part II and the wrecked real estate developments it will leave in its wake. As they say . better safe than sorry.