The Real Estate Report (October 2010)

Volume 5, Issue 10

October, 2010

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

New Development   Sales Tax Would Support Community, Economic Development The proposed quarter-cent sales tax increase could generate about a million dollars a year for economic development in the county.  If passed, the sales tax referendum would grow the commercial tax base while reducing the need for future property tax increases.  It would also help make the community a better place to live by upgrading schools, libraries, and emergency response services. On Saturday, October 30, 2010 from 9:30 to 11:30 am, realtors are invited to join the Chamber of Commerce and Orange County Justice United at the parking lot of United Church of Chapel Hill for our Souls to the Polls rally.  We will all walk to the Seymour Senior Center to vote. Orange County Unemployment Down Slightly While unemployment in the Triangle remains at 8 percent, Orange County unemployment dipped from 6.5 to 6.4 percent, according to the NC Employment Securities Commission.  See the full article by 1360 WCHL for more information.  Meanwhile the state unemployment rate also declined.  See the release by the state for more information.  Carolina North Adjusts to Economic Climate Jack Evans, executive director of Carolina North announced a research facility will now be the first development instead of the Innovation Center, a partnership with a private developer.  See the full article by 1360 WCHL for more information on Carolina North. Carrboro Aldermen Approve Smith Level Road Changes The Carrboro Board of Aldermen approved a plan to add bike lanes, sidewalks, and a median to Smith Level Road.  The plan does not allow left turns out of the Berryhill neighborhood, and its residents fought the changes.  See the full article by the Herald-Sun. Chapel Hill Council Postpones Tree Ordinance Decision The Chapel Hill Town Council heard from the community, and decided to postpone a decision on the tree ordinance until its December 6th meeting.  The extra time will allow town staff to clarify some measures.  See the full article by the Herald-Sun for more information. Chapel Hill Police Chief to Retire After nearly thirty years of town service, Chapel Hill Police Chief Brian Curran is retiring.  Town Manager Roger Stancil will work with others to identify the next police chief.  See the full article by The Herald-Sun for more information. UNC Chancellor Thorp to Address Innovation Chancellor Holden Thorp will focus on innovation in a speech on campus.  The new Innovate@Carolina plan was unveiled on University Day, October 12th, and directs $125 million at innovation from all university departments.  Some university research projects become private start-ups.  For more information, see the full article by The Daily Tar Heel. Chapel Hill a Top Arts Destination American Style Magazine readers ranked Chapel Hill among top arts destinations for the fourth year.  To learn more about details of the title, see the full article by 1360 The Herald-Sun.     Schools Chapel Hill-Carrboro City Schools Boast High Graduation Rate Superintendent Neil Pedersen credits instilling a vision of success in its students for the system’s high graduation rate.  The system rate is the second-highest in the state, and East Chapel Hill High Schools is among top high schools in the state.  For more details, see the full article by 1360 WCHL.       Orange County   Hillsborough Entrepreneurial Kitchen Soon Under Construction The Piedmont Food and Agricultural Processing Center will rent its commercial kitchen space to area farmers and food processors.  The community project is set to open in March.  For more information, see the full article by 1360 WCHL.   The Triangle     RTI International partners with Triangle Universities UNC, Duke, and NC State Universities partnered with RTI International to create a new research institute in the Triangle.  The Research Triangle Solar Fuels Institute will seek to develop fuel from sunlight, much like photosynthesis.  See the full article by The Triangle Business Journal for more information.   State and Nation       President Signs Small Business Jobs and Credit Act In Washington, DC, Congress passed the Small Business Jobs and Credit Act of 2010.  The law increases the maximum size of 7(a) and other loans available to small businesses through the federal government.  The Orange County Economic Development Commission recommended initiatives for Orange County Commissioners that would encourage local small business growth.  For a description of the loans and tax benefits available to small businesses, see the column by Jeremy Todd Browner in the Herald-Sun.  Governor Plans to Streamline Bureaucracy In Pittsboro, Governor Beverly Perdue announced plans to restrict unnecessary rules.  She asked state agencies to refrain from making new rules unless they are critical to state citizens.  The governor asked citizens to report rules that are in need of reform or elimination through a state website.  For more information, see the full article by the News & Observer.

Advertisements