Development agreements — Carolina Park, Liberty Hill Farms, Patriots Annex

These are the agreements that sit outside the permit cap, and the Town reports on them to Council annually. From the Annual Report regarding Development Agreements presented by Planning Director Reed at the Town Council meeting of January 13, 2026: CAROLINA PARK — 'All obligations have been met. The agreement was recently extended and is set to terminate in 2028 if no further extensions are granted.' LIBERTY HILL FARMS — 'All dedications of open space, trail systems, and roads have been completed, with a two-year maintenance bond. The agreement was extended two years ago for five years.' PATRIOTS ANNEX — 'This agreement expired in October and was not extended. The payment in lieu of taxes is covered under a separate Council resolution and is still in effect, although no funds had been received for 2025 as of the meeting date.' Carolina Park remains actively building: the Planning Commission approved street names for the Cape Landing Development within the Carolina Park PD on April 22, 2026. Patriots Annex also remains active: the Planning Commission approved street names for the Patriots Annex development (TMS 517-00-00-001) on March 18, 2026 and granted a one-year extension of Vested Rights for the Patriots Annex Impact Assessment and Conceptual Plan on July 22, 2026.