The Real Estate Report
Local Government News Impacting the Real Estate Industry
Glen Lennox Could be Site of Major Redevelopment
Buckhorn Village Project Given June 3 Deadline
Carrboro Officials Discuss New Developments’ Effect on Parking
School System Requests Budget Increase
The board will hold public hearings on both the operational and capital budget proposals at 6 p.m. April 7 and 7 p.m. April 10 in the auditorium of A.L. Stanback Middle School, 3700 N.C. 86 South, Hillsborough. The Orange County Board of Commissioners is scheduled to adopt its budget in June. For the full story, click here.
Two New School Sites Selected
Chapel Hill Tax Hike Estimated at Five Cents
Orange County to Vote on Transfer Tax in May
The Orange County Board of Commissioners recently voted unanimously to put a 0.4 percent land transfer tax on the May primary ballot. About 10 audience members at the board meeting opposed the transfer tax by wearing stickers or holding signs, and a dozen people spoke before the board, many opposing the transfer tax. The other revenue option being considered by the Commissioners was a 0.25 percent sales tax increase. According to a poll recently conducted for the County, when asked which tax they would support, 48 percent of respondents said they would support the sales tax compared to only 32 percent for the transfer tax. Nevertheless, the Commissioners placed only the transfer tax on the ballot. For the full story, click here.
Tax Education Planned for Orange County Voters
Chapel Hill Trust Fund may Benefit Hillsborough Housing Options
According to the organization, a typical three-bedroom, two-bath land trust townhouse in Chapel Hill with an appraised value of $165,000 would sell for around $105,000, a reduction made possible by housing subsidies and because ownership of the land itself remains with the land trust. A resident buying a home through the land trust model receives a 99-year ground lease and purchases the home at a lower price than it was appraised for. Homes stay in the trust, so a homeowner can sell it back to the organization, but not for its market value. Following the discussion, town board member Eric Hallman requested the board receive more information on how to move forward with the issue.
Dispute over Permit Condition in Carrboro Development Project
Northwest Properties is asking Baddour to strike the condition that restricts access to the shopping center from Barnes Street. The judge said he would read all of the evidence before making a decision. He will most likely make a decision out of term and out of session.
OWASA Votes to Return to Stage 1, Urges Continued Conservation
Downtown Chapel Hill Parking Solution Request Expedited
Church’s Expansion Proposal Could Bring Park-and-Ride Lot
Major Projects Come to Fruition in Hillsborough
David Stancil, environmental resource and conservation director, said plans for Fairview Park, located on Rainey Avenue, appear to be on schedule and could move into the construction process “probably before Thanksgiving.” Lori Taft, director of parks and recreation, said the town is optimistic about its application for a $500,000 grant to the N.C. Parks and Recreation Trust Fund for Fairview Park.
Chatham County Approves Water Rules
Chatham County to Receive Aid Following Plant’s Closing
Durham Impact Fees Approved
Durham County Commissioners Approve School Project
Cary Developers to See Raised Impact Fees
Corps Cuts Water Flow from Lake to Help Raleigh
Triangle Most Expensive Place to Live in N.C.
Census Estimates Released, Big Growth in Wake County
NAI Carolantic Realty Releases Figures
Retail Internet Sales will Continue to Grow in 2008
N.C. Cities to Discuss Neuse Basin Water