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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 in the Town of Bushwood. Dr. Beeper thinks he has figured out how to jumpstart revitalization of Bushwood’s historic downtown. He proposes for the Town to offer annual cash grants to any owner who redevelops [more…]
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The Tortoise, the Hare, and Demolition in Historic Districts
A few blocks from downtown in the town’s historic district sit two houses built in the early twentieth century: the Hare House and the Tortoise House. The houses retain their historic elements and contribute to the architectural character of the neighborhood. While the houses have seen better days, they [more…]
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Conveyance of Local Government Property for Affordable Housing
A developer of affordable housing for low and moderate income persons has approached the City and County about an affordable housing project near the City’s downtown. The developer’s plan is to acquire and assemble two adjacent parcels—one owned by the City and one owned by the County—and then develop [more…]
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Notice and Hearing Requirements for Economic Development Appropriations
As discussed in a prior post, Session Law 2015-277 requires North Carolina local governments to issue notice and hold a public hearing prior to approval of any appropriation for economic development pursuant to North Carolina General Statutes Chapter 158, Article 1, “The Local Development Act of 1925.” Local governments [more…]
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How a North Carolina Local Government Can Operate a Land Bank for Redevelopment
If America’s cities and towns are to realize their greatest potential as attractive and welcoming places—and as drivers of the new American economy—they must be able to repurpose their vacant, abandoned and foreclosed properties. Those properties—whether the product of the current foreclosure crisis or the remnants of the old [more…]
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When May NC Local Governments Pay an Economic Development Incentive?
News outlets regularly report about the latest company that was lured to North Carolina through the payment of a cash economic development incentive by a local government and the state. Local government cash incentives often take the form of an annual cash payment to a company that is contingent [more…]
