At its June 6 meeting, the Holly Springs Town Council approved two economic development agreements – one involving development of property along Main Street in downtown Holly Springs and another for property inside the Holly Springs Business Park.
The downtown economic development agreement with 242 Main Street Holly Springs, LLC, involves construction of a two-story, 45,000 square foot commercial building with at least 10,000 square feet of active retail space, along with additional parking and stormwater treatment. The development is planned along Main Street, across Ballentine Street from Town Hall.
"This project is bringing us closer to what we would like to see in the downtown area," said Irena Krstanovic, director of Economic Development for Holly Springs.
The town is exchanging property fronting Main Street for properties the developer owns along Avent Ferry Road and reimbursing 50 percent of town development fees. The town would pay for a tabletop parking area that includes two levels of parking with each level accessed from a different location. The town also is building additional parking along Avent Ferry, extending Rogers Street from Main Street to Avent Ferry, and providing stormwater treatment.
The agreement with ABCZ Properties involves a flex space development on about three acres of land at 350 Green Oaks Parkway inside the business park. The council approved reimbursing $22,600 in development fees. Staff said the vacancy rate for buildings inside the park is about zero.
Also at the meeting, the council approved entering into an agreement for the Wake County Transit Plan. The countywide plan includes hourly bus service to Holly Springs during morning and afternoon peak hours beginning in 2020. Participating in the plan’s implementation does not commit the town to fund transit. However, it would enable the town to seek a share of transit taxes for any transit investments the town chose to make.
Also, the council approved $10,000 of grants to community agencies. The Holly Springs Food Cupboard received $2,500. The Holly Springs High School PTSA, Holly Springs High School Band and Holly Springs Community Band each were awarded $2,000. The Martin Luther King Jr. Celebration Committee, Interact of Wake County and Holly Springs Civitan Club were given $500.