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New Development Buckhorn Village Review Delayed Until Fall
The Orange County Commissioners voted to give the county planning board three more months to complete its recommendations on Buckhorn Village, a 1.1 million square foot retail mixed-use project along I-40. The planning board is in the process of working on the Comprehensive Plan and was only able to offer a partial recommendation the Commissioners at a June 3 meeting. The planning board’s preliminary recommendation was that the project’s hotel and retail jobs would not serve the County’s economic development goals. Early in the June 3 meeting, the Commissioners received the results of a consultant hired to analyze the economic impact of the project. The consultant, the Sanford Holshouser Business Development Group, said the project would bring in millions each year in tax revenue and not place a large burden on county services. For the full story, click here. Judge Sides with Aldermen in Harris Teeter Case
Superior Court Judge Allen Baddour ruled at the end of May in favor of the Carrboro Board of Aldermen in its dispute with developer Northwest Properties. Northwest proposed a 77,000 square foot shopping center along Jones Ferry Road that would include a Harris Teeter among other retail stores. The Alderman approved the project with a number of conditions, one of which was that there be only one entrance/exit. According to Northwest, that condition would not be amenable to Harris Teeter and so the group took the town to court. Baddour ruled that “the decision the aldermen made was supported by competent, material and substantial evidence in the whole record, and the conditions the board attached to the permit were reasonable and appropriate.” He also ruled that the controversial condition remain a part of the conditional use permit for the project. For the full story, click here. Noodles and Co. to Occupy Old Wicked Burrito Site
Noodles & Company, a Colorado-based restaurant chain that serves Asian, Mediterranean and American cuisine, will open at the former site of the Wicked Burrito at 214 West Franklin Street. The site was left vacant while being held by Kansas-based Lone Star Steakhouse and Saloon, Inc. for 4 and a half years. Liz Parham, Director of the Chapel Hill Downtown partnership, welcomed the restaurant’s presence in the building that had left a void for so long on Chapel Hill’s downtown. Parham says Noodles’ national success and the prominence of its new location on Franklin Street are reasons to be optimistic about the restaurant. For the full story, click here. 3CUPS Closes, Plans Move to Village Plaza
3CUPS owner Lex Alexander has closed his shop at the Courtyard in Chapel Hill after months of standoff with his landlord Spencer Young. Alexander plans to reopen the coffee shop at 227 Elliott Road near the ABC Store in Village Plaza. The store is planned to open in early fall. For the full story, click here.
Chapel Hill and University Partner in New Homeless Shelter Site
On May 5, the Town of Chapel Hill, Inter-Faith Council and University of North Carolina at Chapel Hill held a press conference announcing a new location for the men’s homeless shelter. The new 50-bed shelter will open at the corner of Homestead Road and Martin Luther King Jr. Blvd and replace the shelter operating in the town owned building at the corner of Rosemary and Columbia Streets. The new shelter is estimated to cost $3 million and the IFC hopes to move into the shelter in 2011. For the full story, click here.
Schools New School Site Selected The Chapel Hill-Carrboro School District’s next elementary school will be located in the Northside neighborhood, a historically black neighborhood. The school will be located between Caldwell and McMasters streets, an area that was the site of the segregated Orange County Training School. The site selection is not final since Orange County owns the land, requiring the Commissioners to formally approve the site. According to Neil Pedersen, School Superintendant, the Commissioners have informally been very supportive. If all goes well, the school should open in the fall of 2011. From the Chapel Hill Herald Chatham Hires New School Superintendant
Robert L. Logan was unanimously selected by the Chatham County Board of Education as the next superintendant in mid-April. Logan comes to Chatham from the State Department of Public Instruction, a position he has been at for about a year. Prior to working for the State, Logan was superintendant of Asheville Schools. Logan was selected by the Board from among 29 candidates for his enthusiasm and innovative ideas. He will receive a salary of $140,000 plus benefits. For the full story, click here.
Orange County UNC and Town Announce Major Downtown Acquisition
In a press conference held on Friday, Chancellor James Moeser and Chapel Hill Mayor Kevin Foy announced that the University of North Carolina at Chapel Hill Foundation will purchase the University Square-Granville Towers complex in downtown Chapel Hill. The Foundation is purchasing the 12-acre property for $45.75 million. One of the best parts of the deal is that the property will remain on the Town’s tax rolls since the Foundation, not the University, is purchasing the property. Last year, the total tax bill for the property was $868,279. Chancellor Moeser said the Foundation will honor the leases of businesses in University Square and utilize community input to develop a master plan for the long-term use of the property.
From Joint Press Release by Town and University Chapel Hill Council Votes for 11 Percent Tax Hike
The Chapel Hill Town Council voted to approve a budget that would increase property taxes by 5.9 cents, making the new rate 58.1 cents per $100 valuation. According to Mayor Kevin Foy, the main drivers of the increase are the new Aquatics Center on Homestead Road, the new Town Operations Center on Mill House Road and the new Southern Community Park off U.S. 15-501. Other factors in the budget were a 3 percent increase in staff salaries and a 10 percent increase in the cost of health insurance. For the full story, click here.
Planning Board Votes to Support N.C. 54 Moratorium
At a May Chapel Hill Town Council meeting, Sherwood Forest resident Henry Lister petitioned the Council for a moratorium along N.C. 54. The next day, the Planning Board voted 6-0 in support of the petition. Planning Board Chair George Cianciolo remarked, "We just want to find out -- get a sense of -- what is it that the council and the citizens want for this town: Do they want high density residential? Do they want more commercial?" According to Lister, the moratorium would buy time to plan for more careful growth along 54. Right now, 54 East is under construction in the corridor and plans have been proposed for Woodmont, a mixed-use office project, and Aydan Court, a residential project, though all three projects would not be affected by the moratorium. Developers looking at redeveloping Glen Lennox would be affected by the moratorium. For the full story, click here.
Orange County Comprehensive Plan Update
The Orange County Comprehensive Plan, which is the guiding document of development in this county, is currently undergoing an update for the first time in twenty-five years. The Greater Chapel Hill Association of REALTORS, as a member of the Orange County Comprehensive Plan Coalition, has played a key role in influencing the contents of this plan and the update process. You can also weigh-in on the plan contents by submitting written comments up until July 9 or speak publicly at the County Commissioners meeting on August 25. You can email the planning board your comments at this address and you can view the draft Comprehensive Plan here. The Comprehensive Plan is a critical document that will guide the development of the County over the next 20 years, please take some time to express your views on what you want to see Orange County become. County Commissioner Showdown Set for June 24
In the District 2 Orange County Commissioner race, Leo Allison has requested a second primary with Steve Yuhasz. Allison was entitled to the primary since no candidate garnered more than 40 percent of the vote. In the May primary, Yuhasz garnered 37.2 percent of the votes while Allison came in second with 27.7 percent. Early voting in District 2 began June 5 at the West Tryon Street voting site. The primary will be held on June 24. For the full story, click here. Glen Lennox Property Owners Seeking Neighborhood Conservation District
Sixty one percent of property owners in and around Glen Lennox have asked the Town of Chapel Hill to hold an information session so that they can learn more about forming a Neighborhood Conservation District (NCD). The request for a session will go to the Council on June 25 and from there could go to the planning board who would orchestrate the information session. Grubb Properties who owns Glen Lennox is looking to submit a concept plan to the Community Design Commission in August and could pursue approval for the project while the neighborhoods seek the NCD. The new plan for Glen Lennox would replace the 440 apartments with 908 new homes (single family, apartment and condominium) as well as retail, restaurant, a hotel and office space. For the full story, click here. Orange County Sales Tax Revenues Falling
In a work session last Thursday Orange County Commissioners received a report from county manager Laura Blackmon and budget director Donna Coffey who said that sales tax revenue for the County will be $1.5 million under projections for FY 2007-2008. Manager Blackmon cited the slowing economy as the problem; county residents are reducing their spending and thus limiting the amount of sales tax collected on potential sales. County staff did report that there would be a small pot of state lottery money available for capital projects. For the full story, click here. Orange County Hires New Economic Development Director
Orange County Manager Laura Blackmon announced the hiring of Bradly Broadwell, formerly director of economic development in Dorchester County, Maryland, as the new Economic Development Director in Orange County. Broadwell will begin May 19 and has worked for US Agency for International Development in Mongolia and U.S. deputy secretary of commerce in Washington D.C. In a written statement, Manager Blackmon said, “Brad's vast experiences in developing successful economic programs, as well as his extensive background working with international communities are skills Orange County can put to use today.” For the full story, click here. Church’s Expansion Proposal Could Bring Park-and-Ride Lot
The Orange United Methodist Church at 1220 Martin Luther King Jr. Blvd. brought expansion plans before the Chapel Hill Town Council during its February 18 meeting. The church, almost 180 years old, is proposing to build a 57,000-square-foot addition and 188 extra parking spaces on the 16-acre site. The construction will include a new worship space, classrooms, a youth facility and administrative offices. Currently, the sanctuary has a capacity of 240 seats and the campus has 110 parking spaces. The Planning Board requested the council to encourage the church to consider a park-and-ride facility at the site. The board reasoned that it's a good location for one because, among other reasons, it is on the bus line and a park-and-ride lot would help the town meet its goal of increasing the number of residents who take advantage of the bus service. For the full story, click here. OWASA Considering Raising Rates, Instituting New Surcharges
The OWASA Board of Directors are weighing a 17 percent water and sewer rate increase that would affect residential users and businesses alike. The Board will decide whether or not to enact the rates at their June 26 meeting; if enacted the rates would be effective October 1, 2008. Beyond the increased rates, the Board is considering implementing increased surcharges during Stage 1, 2 and 3. Currently, surcharges do not go into effect for businesses until Stage 3 restrictions. Under the new proposal, businesses would pay 115 percent of the seasonal water rate during Stage 1, 125 percent during Stage 2 and 150 percent during Stage 3. If both the surcharges and rate increases are enacted, a business could face a 32 percent increase in their water bill under Stage 1 restrictions. For the full story, click here and here. County Seeking Board Volunteers
The Orange County Commissioners are seeking citizen volunteers to serve on the Board of Adjustment. Members are appointed by the Board of Commissioners to serve three-year terms. The Board of Adjustment is responsible for hearing, reviewing and deciding appeals filed by citizens arising from a decision made by a zoning officer. For more information about the Board or to apply, contact the office of the Clerk to the Board at 245-2125 or email athompson-rockett@co.orange.nc.us.
From the Chapel Hill Herald Orange County Human Services to Occupy Former Wal-Mart
Orange County Human Services, currently located in downtown Hillsborough on Tryon Street, will soon be located in a vacant Wal-Mart building at Mayo and Churton Streets. The new 56,000 square foot location will vastly expand the human services ability to confidentially interview patients and move more people through the system. The County executed a 10-year lease on the property with the option to purchase the entire 108,000 shopping center in February of 2012.
From the Chapel Hill Herald
The Triangle Chatham Commissioners Vote to Extend Development Moratorium
In a June 2 meeting, Chatham County Commissioners voted to extend a year long development moratorium another six months. The ban is on developments with 26 or more residential lots, not commercial real estate, and does not apply to the county’s two incorporated municipalities Pittsboro and Siler City. In statements made by commissioner chair George Lucier, the moratorium was meant to revisit county rules governing growth and that county staff have found that those revisions are more complicated than originally thought. For the full story, click here. Chatham County BOC Website Offers New Ways to Stay Informed
The Chatham County Board of Commissioners announced many new features to their website that are designed to help keep Chatham County citizens informed. At the center of this effort is the new “E-Notifier” system through which Chatham County residents may receive agendas for upcoming meetings, county news releases, new county job postings, and special events. Signup is available at the county website, www.chathamnc.org. The E-Notices are also customizable; clicking on “Sign Up for E-Notices” opens a menu where the user can select types of information about which they receive e-notices. Each e-notice provides a link to revise a subscription or to unsubscribe the user from the e-notices service. The website also offers a chance to leave comments for the Board of Commissioners as well as an online signup form to speak at the next Board meeting.
From Chatham County website Durham County Seeking a Prepared Food Tax
State lawmakers are working with Durham County to develop legislation that would allow the county to put a proposed food tax on the ballot in November. If the tax is passed, Durham could tax food and drink in restaurants up to 1 percent. The City and County have agreed to split the revenue with 3 percent going to the county to administer the tax, 80 percent going to civic and cultural amenities, 10 percent to destination marketing, 5 percent to workforce training and 5 percent to community cleanup. For the full story, click here. Raleigh Considering Increased Water Rates
Raleigh City Council is debating a possible increase in water rates that would be used to pay for roads and parks and cover the loss in revenue associated with conservation. Raleigh City Manager Russell Allen proposed a budget that would include 15 percent increase in the water and sewer rate. For a typical 6,000 gallon per month water user, that increase would amount to $4.86 per month or nearly $60 for the year. The Raleigh water system is projecting an 8 percent decrease in water use for next year due to tougher water restrictions and changes in consumer use. For the full story, click here. Durham Athletic Park to Undergo Renovations
At the end of April, Durham City and Minor League Baseball officials participated in a historic groundbreaking event at Durham Athletic Park. The DAP, where the movie “Bull Durham” was filmed will undergo a $5 million renovation over the next six months and soon become home of the NCCU and Durham School of the Arts baseball teams. The DAP will also serve as a training ground of sorts for minor league baseball grounds crews and umpires. If everything goes according to schedule, the park will be finished in November.
From the Herald Sun Progress Energy Carolinas Seeks Rate Hike to Cover Increased Energy Costs
Progress Energy filed a petition Friday to hike residential rates by 16 percent, or a total of about $424 million, in response to the increased cost of the fuels they use to create power. According to Progress, coal prices are up 160 percent while natural gas prices have risen 55 percent since June of last year. If approved by the North Carolina Utilities Commission, the rate hike will take effect December 1 and raise the average residential customer’s bill to $96.86.
From the Triangle Business Journal
State State Draws Overseas Tourists
Governor Mike Easley announced in a press conference that North Carolina is attracting more international tourists than in previous years. In 2007, a report conducted by the U.S. Department of Commerce, North Carolina drew approximately 358,000 international tourists, putting the state 15th in the nation. In 2005, the state was ranked 18th. The report states that international visitors spend an average of $2,568 during an average of 12 days in the North Carolina. By comparison, domestic tourists spend $549 during a an average 3.3 day trip. For the full story, click here. Governor Pushes for Drought Legislation
Governor Mike Easley has endorsed various bills related to the drought and is urging the General Assembly to follow suit. The bills, according to Gov. Easley, would “modernize” the state’s public water systems, mandate conservation and efficiency and improve state response to water emergencies. For the full story, click here. Amtrak to add Third Charlotte-Raleigh Train
Governor Mike Easley’s office announced Wednesday that Amtrak will add a third passenger train to its service between Raleigh and Charlotte. Increased ridership due to the recent spate in gas prices has prompted the addition of a mid-day run. Ridership on the current Charlotte-Raleigh was up 22 percent between October 2007 and April 2008. The Governor’s office said that the $3 million needed to operate the new route will come from the federal government for the next three years. The new train should be operational within a year. For the full story, click here.
North Carolina Unemployment Rate 5.8 Percent in May
North Carolina’s unemployment rate increased to 5.8 percent in May, according to the Employment Security Commission of North Carolina. The 5.8 percent rate reflects the fifth consecutive increase in as many months and the highest rate since February, 2004. ESC Chairman Harry E. Payne, Jr. noted that unemployment often rises during this time of year, in part due to students and recent graduates looking for work. The labor force did increase by 2,587 people for the month of May, part of a year-to-date increase of 39,818. Overall employment decreased, however, by 18,330 workers. Seasonally adjusted unemployment increased by 20,917 workers, to 265,776. Since this time last year, unemployment has increased by 49,576 people. Employment is down by 9,758 workers since May 2007. The state unemployment rate in May 2007 was 4.8 percent, preceding a one percent increase to the current rate of 5.8 percent. This mirrors the national unemployment rate increase of one percent, up from 4.5 percent in May 2007 to the current rate of 5.5 percent.
From the ESC Website
New Development Major Retail Project Moves Forward in Orange County
A 120-acre major retail development at the Buckhorn Road flea market site moved forward for Orange County approval last week. The land, owned by Orange County Investors, is located at the southeast corner of I-85/I-40 and Buckhorn Road between Hillsborough and Mebane. Development plans call for around 1,000,000 square feet of retail development, a third of which will serve as a “walkable village” similar in concept to the Streets of Southpoint in Durham. By comparison, Southpoint is around 1.3 million square feet. The remainder of the development would include larger retail establishments. The development is occurring in a designated economic development node and does not include plans for any residential development. If everything goes according to plan and the project is approved, this would be the largest development project of its kind in Orange County. The estimated tax revenue from the project is $5 million and will create 5,000 new private sector jobs. For the full story, click here.
Schools UNC Receives Kiplinger’s Top Honor for Seventh Year
The February issue of Kiplinger’s Personal Finance magazine named the University of North Carolina at Chapel Hill the best value in public education for in-state students for the seventh year in a row. An article about schools that made the best value list attributed UNC’s commitment to raising private funds as one of its best resources for making an outstanding and affordable education for North Carolina residents. The fundraising campaign at UNC, which concluded last year and brought in an extra $2.3 billion for the school, is just one example of the university looking outside of the tuition box to fund its prestigious academics and research. Kiplinger also commended UNC for being committed to meeting the financial need of students by allowing students from low-income families to graduate debt-free. The first group of students to benefit from this program, called Carolina Covenant, will graduate in May. To read the full article, click here.
Orange County University Mall, Rams Plaza Sell for $53 Million
In December, Madison Marquette, a Washington D.C. based company, purchased University Mall and Rams Plaza in Chapel Hill for $40 million and $13 million, respectively. According to Madison, the company specializes in purchasing and renovating underperforming assets. At this point, a spokesperson for Madison was unable to comment on specific plans for the properties. For the full story, click here. Nine New Businesses Slated to Open Downtown
Downtown Chapel Hill is set to welcome nine new businesses to downtown. Everything from a gourmet burger place called “Buns” to “Sugarland Bakery”, downtown Chapel Hill will have quite a menu for restaurant goers. Beyond eateries, “Glee Kids”, a children’s clothing boutique, and Jernigan-Wicker Fine Arts & Pearson Fine Arts will also open in February and give residents more places to shop in Chapel Hill. In all, these nine businesses join another twenty businesses that opened or re-opened in the downtown during 2007. For more information about these businesses and downtown, click here. Town Council Lets Moratorium Expire
A vote was made on Monday by the Chapel Hill Town Council to allow a moratorium in the Northern Study Area to expire this month. In November the council asked town staff to consider extending the moratorium for more time to explore other options for the plan to develop areas of northwest Chapel Hill. By allowing the moratorium to end in January the council accepted the proposals of Roger Stancil, manager of the Town Council and J.B. Culpepper who serves as the planning director. Another vote made by the council will allow a final report from the Chapel Hill Northern Area Task Force to be included in the town Comprehensive Plan. It will also add a “development opportunity areas” aspect to the current Land Use Plan. For the full story, click here. UNC and Town Council Move Ahead with Carolina North Plans
The UNC Board of Trustees and the Chapel Hill Town Council met last Sunday to discuss the collaboration of both groups in the plan for Carolina North, the university’s new research campus on MLK Jr. Boulevard. The meeting addressed concerns from council members about UNC’s willingness to work with the town council in forming the long-term vision of Carolina North, especially its effects on the town. Chairman of the UNC Board of Trustees, Roger Perry, said that the university is flexible in its plans for the future of Carolina North and that it would work with the town in the process of developing the 250 acre campus. An agreement was made between the two groups that an official presentation would be made before the council and a public hearing would be held before moving forward with the Carolina North development. For the full story, click here. New Traffic Pattern for Erwin Road/Europa Drive
As of Tuesday, January 8, vehicles will no longer be able to make left turns or through movements from Erwin Road/Europa Drive onto U.S. 15-501. According to the NC Department of Transportation, the new pattern will reduce traffic congestion at the busy intersection. For more information, contact Donnie Huffines at 336-570-6830.
From the Chapel Hill eNews Visitors Center Sees Major Increase
The Chapel Hill/Orange County Visitors Bureau recorded a 58 percent increase in visitors from 2006 to 2007. For all of 2007, the Center recorded 15,778 visitors compared to 9,947 in 2006. The Center, located on West Franklin Street in Chapel Hill, says July is the busiest month followed by April. For the full story, click here. Town Hires New Business Management Director
Town Manager Roger Stancil announced in early January the appointment of Ken Pennoyer as Business Management Director. Pennoyer comes to Chapel Hill from Durham where he served as finance director for the past 4 years. Stancil said Pennoyer will be tasked with “transitioning the finance department into one that manages the business of the Town including budget, accounting, business analysis and information technology.” Pennoyer will begin on February 4.
From the Chapel Hill eNews Hearing to be Held Concerning Town Towing Ordinances
The Town Council announced Monday that it will hold a public hearing regarding proposals to change town towing ordinances. Consideration of amendments were brought to the attention of the council in October through a petition by Margaret McCann, who voiced her discontentment with excessive fees and abusive towing practices regarding two towing incidents of family cars on Franklin Street. The council is especially concerned with the existing ordinances’ lack of position on the issue of vehicle operators returning to cars while towing process is taking place. McCann has proposed that towing sign regulations be reconsidered and has suggested booting as an alternative. The Chapel Hill Police Department has submitted its suggestions to include $100 limit on removal fines and a provision preventing towing operators from removing a vehicle if the operator returns. To read all of the Chapel Hill Police Department ordinance proposals, click here.
The Triangle State Tells Pittsboro to Redo Election
After listening to accusations of voter intimidation and other election law violations, the State Board of Elections backed a new election for the Pittsboro Town Board. The special election will occur on March 18 between November’s third and fourth place finishers, Hugh Harrington and Michelle Berger, respectively. In the November election, Harrington beat Berger by six votes, though it was later determined that 17 voters received an incorrect ballot. The new election will come at a cost of $2,000. For the full story, click here. Chatham Retail Leakage Reported
Early results of a study commissioned by Chatham County’s Commissioners reports, among other things, a sizeable retail leakage in the county. The following table details the amount of sales captured in the county and amount leaked outside the county. All figures are in millions. Chatham
2004-2005
| Captured in County | Leaked Outside County | Total Spending | Leakage Rate | | Apparel | $2 | $27 | $29 | 92% | | Automotive | $74 | $72 | $146 | 49% | | Food | $134 | $88 | $222 | 40% | | Furniture | $28 | $16 | $44 | 36% | | General Merchandise | $110 | $182 | $292 | 62% | | Lumber and building material | $44 | $86 | $131 | 66% | | Unclassified | $41 | $287 | $329 | 87% | | Total | $448 | $788 | $1,236 | 64% |
Source: Presentation by Jason Jolley, Chatham County Economic Development Summit
Commercial Nodes Urged in Chatham County
A 19-member task force created by the Chatham County Commissioners recommended the development of targeted commercial nodes as a way to preserve the county’s rural character. The task force recommends development occur along U.S. 15-501, the intersection of N.C. 902 and U.S. 421, N.C. 87 north of Gum Springs Road and south of Chicken Bridge Road, the intersection of U.S. 64 and N.C. 751, and U.S. 1 near Moncure. Further, the task force recommends varying sizes of commercial development at each node. A “neighborhood node”, for instance, would consist of two small retail or grocery stores each around 40,000 square feet. The nodes progressively increase in size all the way up to a “regional node” which would not be limited in size. A regional node is recommended for the intersection of N.C. 902 and U.S. 421. Beyond the nodes, the task force recommends parking areas be behind buildings and have at least 50 percent shade along with the use of proper landscape to screen the buildings from the road.
From the News and Observer Chatham County Commissioners Approve $270 million in Construction
The Chatham County Board of Commissioners approved a five-year construction plan that will upgrade the county’s water lines and treatment plant and add a new elementary school in the northeastern part of the county. Northwood High School will also be expanded and Bonlee, Bennett and Silk Hope schools will receive new gyms. All told, the work will cost about $270 million and the Commissioners say they will do whatever they can to reduce the impact on property taxes. The new projects and costs require $84.5 million in funding, which would represent about 7 cents on the tax rate. For the full story, click here. Durham Water Bills Likely to Rise
Mandatory water restrictions and the purchase of pumps and pipes to connect to new water sources will cause water bills in Durham to rise. Water use in Durham has decreased since mandatory restrictions were enacted September 21 and City Manager Patrick Baker said that means the water management department will not meet its revenue projections for the year. Leakages resulting from cracked pipes also costs Durham about 3.3 million gallons of water a day. For the full story, click here. Durham Considers Expanded Incentive Policy
Durham County Commissioners proposed changes to the County’s current incentive policy last week, broaching the idea of offering financial assistance to high-dollar commercial and retail developments occurring in targeted historic business districts. The districts include downtown, the Fayetteville Street corridor between Main Street and Cornwallis Road and North/East Central Durham. While Durham’s existing incentive policy has resulted in new businesses moving to the County’s business parks, this expanded policy would only offer money to businesses locating in the historic business districts. The new policy would require some level of investment or the creation of at least 200 new jobs by the business seeking incentives.
From the News and Observer Raleigh Mayor Outlines Plan to Increase Water Bills by 50 Percent
In an effort to stimulate conservation, Raleigh Mayor Charles Meeker announced to the press that he will ask the city council to increase water bills, both residential and commercial, by 50%. If approved the surcharge would take effect in March and not appear on bills until May. Below is a chart illustrating what the increase would mean to a household consuming 6,000 gallons per month and the relative prices of water in comparable cities.
| Current Price Per Year | Proposed Price Per Year | | Raleigh | $356.76 | $535.14 | | Cary | $693.48 | -- | | Durham | $533.88 | -- | | Charlotte | $480 | -- | If the rate hike works as the Mayor hopes, Raleigh would pump an average of 6 million gallons less water per day. For the full story, click here. RDU Reports Major Increase in Travelers for 2007
Raleigh Durham International Airport recorded over 10 million passenger flights in 2007, up 6.4 percent from 2006. The record for RDU is 10.4 million in 2000, prior to the September 11th terrorist attacks. According to the airport, the uptick in travelers was a nationwide trend and the addition of ExpressJet and new lines to Denver and New Orleans also helped. For the full story, click here.
State N.C. Bankers Forum Forecasts More of the Same
At the N.C. Bankers Annual Economic Forecast Forum, three keynote speakers all projected 2007’s economic trends to continue in 2008. David M. Walker, U.S. Comptroller General, told the audience that it would not be until 2009 that economic conditions might begin to improve. Walker did point out that the U.S. economy had seen similar slowdowns in previous decades and sited his alarm over current Federal spending patterns. David F. Seiders, the Chief Economist of the National Association of Home Builders, projected that it would not be until the third quarter of 2008 that the housing industry would see improvements.
Nation Wachovia Economist Says U.S. Recession Unlikely
The 2008 economic forecast presented by Mark Vinter, senior economist for Wachovia, does not include a recession for the U.S. economy. On Tuesday Vinter explained to the North Florida chapter of the Association for Corporate Growth that current talks of an economic recession are premature. Wachovia’s models for the national economy predict that in the next six months there is around a 50 percent chance that there will not be a recession. The key factor in the health of the economy lies in the annual growth of the GDP, which is expected to increase in the last six months of the year. Though the housing market is causing GDP growth to be lower, Vinter says that strengths in the economy such as manufacturing and income data will most likely keep the economy healthy. For the full story, click here.
The Real Estate Report is produced monthly by the Chapel Hill Chamber of Commerce and the Greater Chapel Hill Association of Realtors
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