The Huntersville Board of Commissioners this week approved a change to its bonding requirements, and will now allow developers to request acceptance of completed streets as early as 60% build-out by posting a two-year Maintenance Bond. Previously, the Town would not accept new streets until a project reached 75% density. Under the new policy, developers can now choose whichever option is more economical for them.
REBIC supported the proposal, but believes additional policy changes are needed to make the town’s bonding requirements more conducive to economic development. We will continue to encourage the commissioners to make further amendments to allow earlier acceptance of road improvements, and to enforce the installation of street trees through the CO process instead of through a bond. Read our letter to Mayor Jill Swain and the Town Board HERE. The ordinance changes are listed on the fourth and fifth pages of the most recent Town Board agenda, HERE.
Mecklenburg County LUESA will begin offering developers a flexible payment option to help mitigate the cost of plan review for commercial and residential projects in the towns. As of July 1, developers will have the option of deferring 30 percent of the total development fee until plan approval and the start of project inspections. This will allow for the preservation of cash in a tight economy, and help soften the blow of the dramatic development fee hike that went into effect last summer.
REBIC has been working with LUESA over the past few months to reach an agreement on the fee deferral, and will continue to explore ways to reduce cost for our members and improve the plan approval process.