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Commissioners press developer on appreciation clause, pool access and local hiring
Summary
Commissioners asked the developer to explain the appreciation clause, confirm pool access would be resident‑only, and pressed on whether construction jobs would go to local workers; the developer described upside sharing, said the pool is for residents, and said local subcontractors would be used when possible but could not guarantee a percentage.
During the public hearing a Commissioner asked for a plain‑English explanation of the "mutually agreed upon appreciation clause." Grant Dean said the clause would allocate a negotiated share of any sale upside above pro forma: "if we go sell the project for 51,000,000, then the county and TRG and Bowen Capital would say, hey, county. Here's x percent of that additional upside that that we created because you helped us get this project out of the ground," he explained.
The president asked whether the pool shown in renderings would be public; the developer responded the pool "would only be available to residents of our property." On local hiring, the president asked if construction jobs could be mandated to be local. The developer said they typically work with local subcontractors and "we always, make sure we we qualify them and and give them a crack, if you will, at doing the project," but he did not provide a percentage guarantee for how many workers would be locally employed.
Provenance: question and explanation about the appreciation clause (SEG 316–SEG 351); pool access and local hiring exchange (SEG 396–SEG 434).
