The Real Estate Report (September 2010)

Volume 5, Issue 8

September, 2010

The Real Estate Report Local Government News Impacting the Real Estate Industry

New Development Greater Chapel Hill Association of Realtors Endorses Sales Tax Referendum County Commissioners voted in June to put a quarter of one percent sales tax increase on the November ballot.  The Greater Chapel Hill Association of Realtors along with The Chapel Hill-Carrboro Chamber of Commerce endorse the proposal.  The proposal will support public schools, economic development, and emergency response services.  See the full article by The Carrboro Citizen for more information. Chapel Hill Library Moves to University Mall While an expansion of its building is underway, the Chapel Hill Library will move to University Mall.  The move to a space near the renovated entrance facing Harris Teeter will occur in about six months.  See the full article by The Triangle Business Journal.Orange County, Town of Chapel Hill Cooperate in Library Plan Officials from Orange County and the Town of Chapel Hill met in July to set out an agreement on library funding.  A two-year agreement increases County funding for the Town Library and will allow officials from both parties to agree upon a formula for future funding.  See the full article by The Carrboro Citizen. UNC and CHPD Partnership Continues The Good Neighborhood Initiative, a partnership between UNC and the Chapel Hill Police Department, will continue to advance relationships between students and other town residents.  Project co-coordinator Aaron Bachenheimer believes relations have improved over the program’s seven years.  See the full article by 1360 WCHL. UNC and Town of Chapel Hill Draft Campus Connector Path The Town of Chapel Hill and UNC proposed a draft recommendation for a path to connect UNC’s main campus to the future Carolina North.  While following public right-of-ways, the project may require coordination with the 300 West Main development in Carrboro.  See the full article by The Chapel Hill News or the town website for more information. Chapel Hill Installs High Tech Parking Meters The Chapel Hill Town Council approved replacing parking meters downtown with multi-space parking meters.  A station for approximately every 10 parking spots will accept credit cards as well as change.  A public survey will soon be available online.  See the full article on the town website. New Post Office Serves White Cross, Chapel Hill A new contract postal unit at 3300 Highway 54 West will provide most traditional post office services and be open six days a week.  See more information from the USPS here. Police Issue Citations to Businesses for Illegal Alcohol Sales Chapel Hill and Carrboro Police Departments along with UNC Public Safety conducted operations resulting in 22 citations to local businesses for underage alcohol sales.  Police and the ABC Board lawyer met with business owners to discuss the problems.  For more information, see the full article by the News & Observer or The Chapel Hill News. Schools Search for Next Chapel Hill-Carrboro Schools Superintendent The Chapel Hill-Carrboro Schools board is asking for proposals from search firms for its search for a new superintendent.  The current superintendent, Dr. Neil Pedersen, is retiring at the end of this school year.  See the full article by 1360 WCHL for more information. Orange County Orange County Commissioners Fund Extra to Small Business Loans The Orange County Commissioners approved $200,000 towards the county’s Small Business Loan Program to provide capital for local small businesses.  See the full article by 1360 WCHL for more information. The Triangle Durham County Commissioners Approve 751 South In Durham County, Commissioners approved 3-2 the controversial 751 South mixed-use development project.  An easement accepted, and later rescinded, by the NCDOT invalidated signatures on a protest by neighbors.  The invalidated protest allowed for 3 votes to clear the project.  See the full article by The Herald-Sun here and here. Durham County Officials Weigh Sales Tax Referendum A proposed .25 cent sales tax increase in Durham County would support the Durham Public Schools.  Durham County Commissioners scheduled a meeting to discuss the issue and possibly placing a referendum on the November ballot.  See the full article by The Herald-Sun. Chatham County Commissioners Support Application for Small Business Funds In Chatham County, the Board of Commissioners approved a resolution supporting applying to the NC Department of Commerce for an agrarian growth zone in Siler City.  The special economic zone is used to stimulate growth of business in areas with substantial poverty.  See the full article by The Herald-Sun. State and Nation Homeownership Low in South The U.S. Census Bureau reported that homeownership levels in the South are at a five-year low.  While higher than the national average, the 69.1 percent of households occupied by their owners is down .9 percent since mid-2009.  See the full article by The Triangle Business Journal. President Obama Praises UNC In remarks to an audience at The University of Texas, President Obama praised UNC’s efforts to provide quality services during the economic recession.  UNC recently raised tuition for all students to avoid cutbacks.  See the full article by 1360 WCHL. Congress Passes, President Obama Signs Jobs Bill President Obama signed a bill to help states fix their budgets to preserve teaching jobs and avoid cutting other programs to pay for Medicaid.  The $26 billion in the bill brings the sum of Congressional fiscal economic stimulus to more than $1 trillion since 2008.  See the full article by The Washington Post. North Carolina Unemployment is Down The North Carolina Employment and Security Commission reported that the state unemployment rate in July dipped below 10% for the first time in more than a year.   It was 11% for July last year.  See the full article by 1360 WCHL.

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