Extension of National Flood Insurance Program Signed into Law

img_0100Just hours before coverage was set to lapse for thousands of homeowners, the Senate approved a bill Tuesday to keep the National Flood Insurance Program operating for four more months.  President Donald Trump is expected to sign the bill—which cleared the House last week—into law before midnight Tuesday, when the program expires.

“We applaud lawmakers for taking this needed action to prevent disruptions to closings in thousands of communities across the country,” Elizabeth Mendenhall, president of the National Association of REALTORS®, said in a statement. “Although the program is now extended through Nov. 30, the NFIP is in desperate need of reforms that will make the program solvent and sustainable for the long-term. The National Association of REALTORS® will continue fighting for these reforms.”

The NFIP provides critical flood insurance to homeowners in more than 22,000 communities nationwide, but Congress has wrestled for years with proposals to reform the program, which remains on shaky financial footing.

In Memoriam: Marc Houle

Marc Houle

Longtime REBIC member Marc Houle passed away suddenly over the weekend at the age of 55.

The vice president of local engineering firm Yarbrough-Williams & Houle, Inc., Marc had more than 20 years of residential and commercial engineering experience, and advocated tireless for the real estate industry through a number of critical roles. He served on Mecklenburg County’s first Building Development Commission, its PCCO Mitigation Fee Advisory Group, the CMUD Developer Liaison Committee and many other stakeholder groups.

Marc’s service to the community was recognized by his peers with the presentation of the Charlotte HBA’s Distinguished Service Award in 1999.  Considered one of the finest engineers in the business, Marc was responsible for helping design/engineer countless subdivisions and commercial projects across the Charlotte region.

A memorial service will be held on Friday, August 3rd, from 1 – 2 p.m. at St. Matthew Catholic Church, 8015 Ballantyne Commons Pkwy. Visitation will be held on Thursday, August 2nd, from 6 – 8 p.m. at McEwen Funeral Service – Pineville Chapel, 10500 Park Rd.

Our prayers and sympathies are with the Houle family during this difficult time.

NC Senate Candidate Visits with Realtor® Government Affairs Committee

Vickie Sawyer

The Government Affairs Committee of the Charlotte Regional Realtor® Association this week heard from NC Senate candidate Vickie Sawyer (R, Iredell) as she spoke about her campaign for District 44 and priorities for Iredell County.

Sawyer is the Republican candidate for the newly redrawn District 44, which covers Iredell and Yadkin counties. Last night, Sawyer was appointed by the Republican Executive Committee to fill the remainder of Senator David Curtis’ term for District 33 (representing Iredell, Lincoln and Gaston counties), which he resigned effective June 30th. This means Sawyer will take on Senator Curtis’ committee assignments which include Education, Finance, Health Care and State and Local Government.

REBIC looks forward to working with Vickie in the NC Senate during the balance of the 2018 session!

House Passes Extension of National Flood Insurance Program

img_0100In a bipartisan, 366-52 vote, the U.S. House today passed a four-month extension of the National Flood Insurance Program (NFIP). The Senate is expected to take up the House bill this week, as the program’s authorization is set to expire next Tuesday, July 31st.

The House legislation, introduced by Representatives Tom MacArthur (R-N.J.) and Steve Scalise (R-La.) would extend the NFIP through Nov. 30. The NFIP provides critical flood insurance to homeowners in more than 22,000 communities nationwide, but Congress has wrestled for years with proposals to reform the program, which remains on shaky financial footing.

Both the National Association of Realtors® (NAR) and the National Association of Home Builders (NAHB) have called on their members to lobby Congress to ensure the program does not expire, an outcome that NAR estimates could result in about 40,000 fewer home sales per month.

“Flooding is the most common and costly natural disaster in the United States,” NAR President Elizabeth Mendenhall said after today’s House vote. “Without an extension of authority, the National Flood Insurance Program cannot write or renew flood insurance in 22,000 communities nationwide.

“The bill passed by the House today ensures the program remains available to those Americans who rely upon it, while enabling Congress to continue working toward a long-term reauthorization and reform measure. We urge the Senate to take swift action on this bill before the program expires on July 31.”

 

 

 

Mooresville Approves Mixed-Income Zoning Ordinance

The Mooresville Board of Commissioners earlier this month unanimously approved an ordinance to encourage Mixed-Income Residential development through by-right density bonuses and development fee refunds.

The ordinance, a product of the Town’s Comprehensive Housing Strategy, was approved after the Board heard supportive comments from members of the public, including both the Executive Director of the Mooresville Community Foundation and Madeline Keeter, REBIC’s Government Affairs Manager.

The voluntary program provides incentives for developers to include affordable units within new subdivisions. Developers using the ordinance can obtain a by-right increase in zoning density without a Conditional Use Permit as long as the total number of additional units yielded by the increase are priced for residents earning between 50% and 100% of Area Median Income (AMI), currently around $43,000 for a family of four. The ordinance would apply to the Town of Mooresville, as well as the ETJ.

REBIC supports Mooresville’s Incentive-based approach to producing more affordable housing, and looks forward to working with Town planners and elected officials to ensure it produces the desired results.