Congressional Budget Deal Contains Big Policy Wins for Real Estate

img_0100The federal budget deal signed by President Trump last Friday contains a number of wins for real estate, including a temporary extension of federal flood insurance and extension of tax provisions that include relief from debt forgiveness, the deductibility of mortgage insurance premiums, and several energy-efficiency related provisions.

Flood Insurance

Extends the National Flood Insurance Program until March 23, giving lawmakers time to work on longer term reauthorization and reform legislation. It also adds $27 billion in mitigation and resiliency funds to address issues arising from last year’s hurricanes. The extension makes $12 billion available under the Community Development Block Grant (CDBG) program to fund U.S. Army Corp of Engineers flood mitigation projects.

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City of Concord Defers Action on Sewer Capacity Fee

The Concord City Council held a public hearing last week on a proposal to adopt a System Development Fee for future sewer capacity needs, but ultimately decided to defer action until later this year.

The fee proposal was part of a recently released System Development Fee Report produced for the City by an outside consultant, in response to the passage last year by the General Assembly of S.L. 2017-138, the ‘Public Water and Sewer System Development Fee Act.’ This law authorizes local governments to adopt system development fees for public water and sewer systems within certain parameters, to ensure fees are tied to an Capital Improvements Plan and do not charge new development in excess of the revenue required to meet new demand.

During last Thursday’s hearing, members of the City Council received comments regarding potential impacts should the fee be adopted.  Following the presentation and public comment, Council Member Terry Crawford, who represents District 5, made a motion to table the discussion until budgetary impacts could be better understood. REBIC will continue to monitor this issue as it moves through the process.

 

 

Town of Cornelius to Hold Public Hearing on Changes to Land Use Code

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For the last four years, The Town of Cornelius staff have been working with a local citizen advisory committee to draft an update to the Town Land Development Code. Town Staff has periodically been meeting with local real estate companies, engineers, developers and neighborhood groups to review different portions of the proposed Code that may be of interest.

The Cornelius Town Board has scheduled a final public hearing and potential adoption for Monday, February 19th at 7 p.m. at Cornelius Town Hall.  REBIC is reviewing the Code and will be at the public hearing to make the Town Board aware of any concerns.

To review a PowerPoint presentation on the new Code, click here.

The new draft Code can be downloaded here. 

Source: Town of Cornelius

City Council Talks Affordable Housing, Economic Development at Durham Retreat

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Mayor Lyles opens the 2018 City Council Planning Retreat last week in Durham

DURHAM, NC — When Mayor Vi Lyles and the Charlotte City Council arrived in Durham Wednesday afternoon for the start of their 3-day planning retreat, the stage had already been set for a fascinating interplay between a series of emerging dynamics: Young vs. Old, Millennial vs. Boomer, Revolution vs. Status Quo. And with a menu of topics on their plate ranging from affordable housing and job creation, to sewer capacity and the completion of a new Unified Development Ordinance (UDO), the conversation and debate was sure to be one for the books.

Affordable Housing dominated Day 2 of the retreat, which was held at the comfortable Washington-Duke Inn, just outside the Duke University campus. After an economic overview by the always-fascinating Wells Fargo economist Mark Vitner, council members jumped into a full-throated discussion about affordable housing and creating ‘great’ neighborhoods — without once recognizing that the two goals may, in fact, be somewhat incompatible. Some of the highlights: Continue reading

Charlotte Water Lengthening Sanitary Sewer Capacity Reservations

Official LogoWith capacity challenges mounting in numerous basins across the City, Charlotte Water is taking steps to assure developers they’ll have the sewer taps for their projects when the need arises.

Charlotte Water announced this week that it will now be extending its capacity reservations from 12 to 24 months, effective for all connection applications approved on or after January 1st, 2017.  As a result, there will be no expiring capacity reservations for 2018. Continue reading

Mecklenburg County Hopes to Have POSSE System Back Online This Week

Code Enforcement

In the wake of last week’s cybercrime attack, Mecklenburg County is continuing to make progress on restoring permitting systems to full functionality. LUESA is running tests on the POSSE system today, and pending those results, is hoping to have it back up and running by tomorrow or Thursday.

LUESA director Ebenezer Gujjarlapudi told REBIC today he is confident that no plans or review comments were lost during the hack, so the department should be able to pick up where they left off once everything is back online.

Code Enforcement has been averaging about 1,000 inspections a week since the system collapsed, so they don’t expect there will be much (if any) of a backup once the system returns to normal. In addition, the County says they’ve had a number of on-schedule reviews completed this week using the paper process, and once the system is back up, they’ll contact all customers in the queue to let them know how they’ll be proceeding with their scheduled reviews. Again, they seem to expect a minimal disruption. Continue reading

Join us January 17th for an Evening with Civil Rights Leader John M. Perkins

John Perkins Registration