Legal and Business Reasons Why Downtown Development Programs Should Involve Secured Loans—Not Grants

Dr. Blaine Beeper is a retired hospital administrator who was recently elected to council [more…]

The Tortoise, the Hare, and Demolition in Historic Districts

A few blocks from downtown in the town’s historic district sit two houses built [more…]

Conveyance of Local Government Property for Affordable Housing

A developer of affordable housing for low and moderate income persons has approached the [more…]

Notice and Hearing Requirements for Economic Development Appropriations

As discussed in a prior post, Session Law 2015-277 requires North Carolina local governments [more…]

The Community and Economic Development program at the School of Government provides public officials with training, research, and assistance that support local efforts to create jobs and wealth, expand the tax base, and maintain vibrant communities. We deploy the resources of the University to support the development goals of communities in North Carolina.

Recent Blog Posts |

  • Downtown Revitalization Achieved through Transit Development: Raleigh’s Union Station and the Warehouse District

    In October 2017, travel, entertainment, and food website Thrillist ranked Raleigh’s Warehouse District among “12 neighborhoods across America that are about to get crazy popular.” Matt Meltzer wrote, “Next year, the $80 million Union Station opens up, turning the warehouse district into Raleigh’s transportation hub. As it becomes more accessible, look for even more creative spaces and businesses to open up, and more of the city’s transplants to end up here.”

    Raleigh’s Warehouse District, with its six blocks of spacious red-brick buildings west of downtown, has historically served as an industrial zone due to its proximity to rail lines. Warehouses, factories, and depots fell into disrepair in the mid-1950s but were later repurposed for artists, designers, and performers in the late 1970s and early 1980s. These spaces soon gave way to a diverse arts, restaurant, nightlife, and entrepreneurial district, now known for its craft beer establishments, Citrix headquarters, HQ Raleigh, Contemporary Art Museum, and public art space. The Warehouse District will soon see another facelift in the form of Raleigh’s Union Station, a multimodal facility which will accommodate inter-city and intra-state rail services, regional commuter rail, local and regional buses, bicycles, and other forms of transportation. Read more »

  • On Borrowed Ground: A Ground Lease Primer – Part 1

    Imagine that you find the ideal land parcel to develop, but the owner does not want to sell – and desires to retain ownership in any future land appreciation. Or, you find the perfect development site that offers superior investment returns – but the land cost is prohibitively expensive, and makes your project infeasible.

    In both scenarios, development is still possible by embracing a ground lease.

    A ground lease is a lease for the land between a lessee, such as a developer, tenant, or asset manager, and the owner of the land. The owner, the lessor, provides rights to the lessee to develop his/her land while retaining ownership of the land. Meanwhile, the lessee retains ownership of the structures built upon the land. Both parties agree to the nature of development, land use, and the financial terms of the lease. Read more »

  • Revolving Loan Funds for Affordable Housing

    http://www.stapletondenver.com/property/northfield-apartments/In previous CED posts, the definition and benefits and disadvantages of a revolving loan fund structure have been described. For review purposes, a revolving loan fund is often defined as a replenishing source of capital or funding from which loans are made. Some of these same posts describe this financing tool is as way to provide a boost for small business owners in rural regions and provide an example of the revolving loan fund run by Kerr-Tar Council of Governments in Vance County. In addition to encouraging and supporting small businesses, revolving loan funds have been used to address and fund other charges facing local governments. One such charge? Affordable Housing. In places like Denver, Colorado, Santa Barbara, California and Arlington County, Virginia, revolving loan funds have served as a huge source of financing for affordable housing development. In North Carolina, local governments have ample authority to expend funds in support of affordable housing for low and moderate income persons; a revolving loan fund may be a useful framework to deploy funding. Read more »

  • What @sog_ced is reading online: January 2018

    The following are articles and reports on the web that the Community and Economic Development Program at the UNC School of Government shared through social media over the past month. Follow us on twitter or facebook to receive regular updates.

    Items of interest related to CED in North Carolina:

    News & Observer update on Rocky Mount Mills, a multimillion dollar historic redevelopment anchored by a craft brewery incubator: http://bit.ly/2qH1LbR

    Report from the Information Technology & Innovation Foundation (ITIF) finds that North Carolina leads all states in industry support of university research (12.1%), generating economic development benefits: http://bit.ly/2Dq0JGE

    Bloomberg.com reports on High Point, North Carolina’s taxable bonds to construct a publicly-owned minor league baseball stadium in a bid to attract private investment to revitalize downtown: https://bloom.bg/2BamftD

    The North Carolina Center for Public Policy Research evaluates the connection between teacher retention and affordable housing. http://bit.ly/2DxlkcY

    Will the North Carolina General Assembly modify the county “Development Tier” designations at the heart of many State funding formulas? http://bit.ly/2Fza8ZY

    Other CED items:                                           

    HUD (Department of Housing and Urban Development) delays the fair housing rule until 2020 and will stop reviewing fair housing plans to address racial segregation. HUD says local governments need more time to adjust to the rule: http://reut.rs/2lXmfrs

    The New York Times’ The Upshot argues that NIMBY has evolved into “Not In My Neighborhood” as owners and even renters try to control variables that they perceive (rightly or wrongly) affect their property values. http://nyti.ms/2CGwV8g 

    Small grocer locates in low-income food deserts throughout the country, including South Carolina, backed by a group of military veterans on a mission to bring affordable full-service grocery stores to underserved low-income areas. http://bit.ly/2ATbdJi  Read more »

  • The Importance of “Good” Data

    The Development Finance Initiative’s Community Revitalization Fellows represent students from a variety of graduate programs: City and Regional Planning, Business, Public Administration, Information and Library Science, Applied Geography, and Public Health. In addition to working as DFI Fellows, these students have something else in common: their respective graduate programs all require that they take at least one course focused on statistics and data analysis. No exceptions.

    Why is this requirement so important? Because decision making in the modern world is based on data. Statistical analysis offers the most objective, informed way to analyze a situation and project the impact of different courses of action.

    Read more »

  • The CDFI Bond Guarantee Program

    It is no secret that the struggle to preserve affordable housing and increase economic growth is more challenging than ever. Subsidies are growing smaller and building costs are increasing, making affordable housing more difficult to develop. However, a federal program known as the Community Development Financial Institution (CDFI) Bond Guarantee Program (BGP) is making it possible for CDFIs across the nation to invest in the distressed communities of the United States.

    The CDFI Bond Guarantee Program was created by the U.S. Treasury’s CDFI Fund through the Small Business Jobs Act of 2010. The program was designed to provide long-term, low-cost capital for community revitalization and economic growth. Through this program, federally certified Qualifed Issuers (CDFIs or approved designees) are eligible to apply to the CDFI Fund for the authorization to issue bonds worth a minimum of $100 million total. These bonds are guaranteed 100% by the U.S. Treasury, up to $1 billion per year. The proceeds from these bonds can be used to extend credit for community development purposes or to refinance existing obligations. Read more »

  • Lessons for CED from Europe: Housing, Job, Food, or Fuel Poverty…All Roads Lead to a Social Inclusion Model

    For the past five months I served as a visiting scholar to the University of Ghent in Belgium.   The link between food insecurity, a particular focus on my work in North Carolina, and larger overall economic insecurity issues has been getting increased focus across a number of European countries. Belgium is much smaller in geographic size, but has nearly the same population as North Carolina, and similar overall poverty rates.  It has Read more »

  • The Olmstead Decision: Compliance and Action in North Carolina

    The 1999 Olmstead v. LC decision, also known as the Olmstead Decision or simply Olmstead, marked one the most important civil rights cases for people with disabilities in the United States. Underpinned by the 1990 Americans with Disabilities Act (“ADA”), the Olmstead Decision brought forth a framework that would oblige states to provide support services to disabled Americans in the community as opposed to in institutional settings. This blog post will provide an overview of Olmstead and its significance in North Carolina, including its history, challenges with compliance, and opportunities to provide integrated transitional housing. Read more »

  • Hidden in Plain Sight

    Mobile homes are a vital but generally unloved part of North Carolina’s affordable housing stock. They come to public attention in times of extreme weather, particularly high winds and floods. Their condition and location make them especially vulnerable to damage, and often their occupants – the elderly, people with disabilities, and the poor – are least able to cope with the consequences. This blog looks at some of the challenges and opportunities for improving conditions and expanding affordable and safe housing for low-income North Carolinians, particularly in our more rural counties.

     

    Read more »

  • Self-Driving Cars and the Changing Real Estate Market

    In a world where technology seems to be advancing exponentially, very few advancements will manage to have the effect on real estate that the evolving transportation industry will. We have already seen how a shift towards walkability and the introduction of ride hailing services, such as Lyft and Uber, have impacted parking requirements, and introduced new programmatic elements to multifamily buildings across the country. But what happens when the cars can drive themselves?

    As conversation in the automotive industry orbits around the premises of electric, self-driving cars, we are often fed stories about the amazing ways the technology will change our lives. For example, consider the claims of decreases in vehicular accidents and traffic, increases in vehicle travel speeds (the result of cars “talking” to one another), and gains in productive time. However, very few examine the effects these changes will have on physical real estate. Read more »

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