Skip to main content

Town of Hillsborough: Special Assessments (Part III)

March 13, 2014

This post is part of a series (Part I here and Part II here) on the Town of Hillsborough’s implementation of special assessment project financing. Part II mentioned the lengthy process to coordinate the thoughtful deliberation of the town’s policy. So far the series has differentiated the special as … Continued

Town of Hillsborough: Special Assessments (Part II)

February 20, 2014

In our series on the Town of Hillsborough’s use of special assessments for project development financing we left by contrasting the tool with tax increment financing in Part I of this series. Part II reviews some of the unique aspects of the implementation process. The School of Government’s Kara Mi … Continued

Food Deserts and Development Finance Options in North Carolina

February 18, 2014

On January 27, 2014, the North Carolina General Assembly’s House Committee on Food Desert Zones heard testimony about food deserts in North Carolina. A “food desert” is defined in the Food, Conservation, and Energy Act of 2008 as an area “with limited access to affordable and nutritious food.” Maps … Continued

Historic rehabilitation partnerships given “safe harbor” by IRS

February 13, 2014

Recently, developers and investors in historic rehabilitation projects—and the communities in which they work—let out a big sigh of relief. After months of uncertainty, the Internal Revenue Service issued guidance on January 9, 2014 that cleared up the terms by which developers can allocate to their … Continued

Town of Hillsborough: Special Assessments (Part I)

February 6, 2014

In the fall of 2013, a blog post on special assessments for financing infrastructure included a short description of the Town of Hillsborough’s use of this finance strategy. Hillsborough was the first local government in North Carolina to borrow money and pledge special assessments as security for a … Continued

Mezzanine Financing in Community Economic Development

August 9, 2013

Mezzanine financing, or mezz debt, can play a critical role in the funding of a community economic development project and has other advantages discussed in this post, but what exactly is it, and how does it work? Financing the renovation of historic buildings is far more complicated than new constr … Continued

Master Development Agreements: Evaluate Contingencies

July 5, 2013

Five years ago, excitement was building over the prospect of a new downtown vision. Local officials had just signed a long-term development agreement with an experienced master developer known for successful downtown redevelopment projects. The town and the developer worked hard to create a downtown … Continued

Redevelopment Areas in Action: Sanford, NC

January 3, 2013

In a recent post, Tyler Mulligan provided an overview of how local governments can use an Urban Redevelopment Area to attract private investment. This post will describe an example from Sanford, NC. In the early 2000s, the City of Sanford found itself in a position common to many other small towns i … Continued

Redevelopment Areas in Action: Greenville, NC

December 20, 2012

In a recent post, Tyler Mulligan provided an overview of how local governments can use an Urban Redevelopment Area to attract private investment. This post will describe an example from Greenville, NC. Like many towns in eastern North Carolina, Greenville’s downtown, known to residents as Center Cit … Continued

Redevelopment Areas in Action: Mooresville, NC

December 6, 2012

In a recent post, Tyler Mulligan provided an overview of how local governments can use an Urban Redevelopment Area to attract private investment. This post will describe an example from Mooresville, NC. Mooresville, a small town (population 32,711) located 20 miles north of Charlotte, provides an ex … Continued