Posts Tagged ‘economic development’

Follow Procedures Prior to Acquiring Property for Redevelopment

Tuesday, March 15th, 2016

The Town of Renewville has ambitious redevelopment plans for several key—but tired and/or underdeveloped—properties along its Main Street. As we know from a prior post examining the limited situations in which a local government may discuss property acquisition in closed session, the Renewville town council intends to kick-start the redevelopment process by acquiring several of […]

Annexation Agreements for Economic Development – Not an Option

Wednesday, September 9th, 2015

The City of Promiseland has been in discussions with a developer about a property just outside the city that is perfect for a small business center. The city is willing to extend water and sewer services to the property, and according to the city’s policy, will require the developer to petition for annexation. The property […]

Property Tax Exemptions and Economic Development

Wednesday, November 12th, 2014

North Carolina property tax law, nicknamed the Machinery Act, contains over 60 full or partial exemptions for property as diverse as free drug samples, uranium 233, and Loyal Order of the Moose clubhouses. A number of these exemptions are aimed at property that might be part of a local government’s community economic development plans. This […]

Acquiring real property for redevelopment—can local governments keep it confidential?

Tuesday, June 17th, 2014

The town of Renewville wants to improve the look of its downtown Main Street, which is pocked with poorly-maintained commercial buildings. The Mayor has had his eye on a few key properties on Main Street, which, if redeveloped, would transform the look and feel of downtown, perhaps spurring additional private investment in the area. After […]

Sidewalk Dining: Some Questions and Answers

Friday, September 13th, 2013

Imagine a balmy autumn evening. You and your family or friends have plans to go out for dinner. The restaurant that you have in mind offers you the chance to grab a table outdoors on the sidewalk. Have you ever wondered about what arrangements are made by the restaurant and governmental agencies to make “eating […]

Financing Capital Projects–Part II: Special Levies

Tuesday, January 29th, 2013

UPDATE AUGUST 2013: The General Assembly extended the authority for the Newer Special Assessment Method. It was set to expire on July 1, 2013. It is now set to expire on July 1, 2015. The legislature also made a few important changes to the Newer Special Assessment authority. See S.L. 2013-371. Blight City has fallen […]

Financing Capital Projects—Part I: “Saving” through Fund Balance and Capital Reserve Funds

Sunday, October 7th, 2012

UPDATE August 2013: For more information on capital reserve funds, click here. Blight City has fallen on hard times. Its population has declined significantly since the 1990s, due in large part to the shuttering of two large manufacturing plants. Emblematic of the city’s decline is its central downtown area. Once a vibrant community center, it […]

Kelo Revisited: Eminent Domain for Economic Development in North Carolina

Tuesday, November 17th, 2009

A New York Times article on Friday covered Pfizer’s announcement that it will be leaving New London, Connecticut, the city at the center of the landmark eminent domain case, Kelo v. City of New London, 545 U.S. 469 (2005). In Kelo, a 5­‑4 majority of the U.S. Supreme Court decided that the Fifth Amendment of the U.S. Constitution permits […]

Valid Cash Incentive or Illegal Tax Rebate?

Wednesday, October 28th, 2009

One news outlet reported that in exchange for constructing a data center in North Carolina, Apple Inc. will be reimbursed by North Carolina local governments for “50 percent of tax revenue on real estate property — buildings and land — and 85 percent of tax revenue on business property — computers and other equipment — […]

Public Hearings for Economic Development Incentives: An Unwritten Rule?

Wednesday, August 26th, 2009

North Carolina local governments frequently use cash grants as an economic development incentive to lure businesses into their respective jurisdictions. The grants are authorized under the Local Development Act, G.S. 158-7.1 et seq., but a quick read of the statutes might obscure the need for a public hearing prior to approving such incentives. To understand […]