The Lee County Board of Commissioners and the Sanford City Council will hold public hearings on consecutive rights to hear comments regarding a proposal from each for funding of a new shell building in Central Carolina Enterprise Park.
The commissioners’ hearing is set for Dec. 19 followed by City Council’s on Dec. 20, according to legal notice of the action.
The city and county boards are proposing to lease the shell building from Lee County Growth VI LLC, a limited liability corporation whose registered agent is Sanford businessman Kirk J. Bradley.
Lee County Growth is planning to build a 117,133 square-foot shell building in CCEP at a cost of $10.2 million, the notice says.
“The shell building will be used to entice new businesses to come to Sanford/Lee County or to relocate or expand in Sanford/Lee County, for site visits and events, to market Sanford and Lee County as a whole, until it is sold to an end user,” the notice says.
The agreement calls for the city and county to lease the building for up to two years, the notice said. Monthly payments for the first 12 months are $28,381.88 for a total cost of $340,582.50 for the year.
North Carolina Firefighter’s Relief Fund Board of Trustees – 1 Vacancy
Personnel Review Board – 6 Vacancies
Public Arts Commission – 3 Vacancies
Stormwater Advisory Board – 5 Vacancies
Boards and commissions are a great way for residents to engage in their community and continue to build a greater Fayetteville. Volunteers who are appointed to the boards and commissions by City Council serve as the link that connects residents to its governing body and serve as advisors that help shape the policies and programs of Fayetteville.
Applicants can apply now through January 31, 2023 at Fayettevillenc.gov/boards. All qualified applications will be presented to the Appointments Committee in February. City Council will then approve the recommended applicants at a regular meeting in March 2023.
For more information on how to get involved on boards and commissions please email [email protected] or call Jennifer Ayre, Deputy City Clerk at 910.433.1312.
Sanford City Council has committed to spending $4,268,444 for four transformative community initiatives as defined by the American Rescue Plan Act (ARPA).
*$690,444 – to provide and protect affordable housing. The City of Sanford will contract with Brick Capital Community Development Corporation to provide home buyer education. The City will loan funds to Brick Capital and the Sanford Affordable Housing Development Corporation to help with the cost of maintaining or improving existing affordable housing stock.
*703,000 – to renovate the Depot building recognizing the vital role of Depot Park in downtown Sanford’s success, the City of Sanford will renovate the historic Depot building for modern use.
*2,800,000 – to begin the Sanford Central Green transformation. Sanford Central Green will be a multi-use community green space anchored by the marketplace that serves as a connector between a future downtown mobility hub and City Hall.
*$75,000 – for a downtown strategic plan.
*$315,000 – to the Outreach Mission Shelter
*$250,000 – for a home repair program to help low-income residents with urgent home repairs.
*$850,000 – to Brick Capital Community Development Corporation to provide infrastructure for a new affordable housing project off Washington Avenue that will provide a 45 single-family lot land trust model subdivision and 16-unit apartment complex for supportive housing.
All of these initiatives align with the City of Sanford’s Strategic Framework, a guideline developed to ensure smart, planned growth.
The FHFA announced(link is external) that it will implement a framework for adopting two new credit scoring models by Fannie Mae and Freddie Mac. The framework will likely take several years to fully implement.
Fannie Mae and Freddie Mac have relied on “Classic” FICO for two decades, but the model is based on modeling techniques from the 1990s and limited data.
The new scores, FICO 10T and VantageScore v4, utilized current modeling techniques and data such as rents, utilities, and telecom. NAR has advocated for the adoption of new scores in recent years to spur competition and improvements and for the adoption of alternative credit data like rent for nearly three decades.
This change will allow significantly more home buyers to be credit scorable and help build the ladder to home ownership for under served groups.
The following agenda items were discuss and voted on as they pertain to real estate.
Case P22-36 Conditional rezoning from Single-Family to Mixed-Residential Conditional Zoning for no more than 160 units. The property is 15.14 acres and is located on 7009 Fillyaw Road. The developer plans to build 125 units. The property is owned by Alternative Investment Holdings and was represented by Jonathan Charleston. The rezoning passed unanimously.
The Council unanimously passed funding for the North Carolina History Center in the amount of 6.6 million dollars.
The NC REALTORS® 2022 Legislative Committee met this week to review the 2023/24 legislative priorities for the NC General Assembly.
(from NC REALTORS® report) – This plan outlines anticipated advocacy activity for the 2023-24 Legislative Session. It identifies issues that the Governmental Affairs team is proposing to address.
Short Term Rentals (STR) – Property owners should not face restrictions on how they are allowed to rent their property. The ability to generate housing income is vital to many people as well as the local North Carolina economies that rely on tourism.
Parea – More than 1,500 North Carolina REALTORS® are licensed appraisers. Appraisals are an important part of real estate transactions. The profession has been under national scrutiny and is facing increasing regulatory changes.
Housing Affordability and Availability – Challenges and barriers need to be eliminated or reduced so that the dream of homeownership is attainable for all as well as pass legislation that prevents local governments from restricting housing options and availability with arbitrary ordinances, excessive fees, and permit delays.
Additional Legislative Items for 2023 *Uniform Partition of Heirs Property Act *Make government issued military ID’s acceptable for real estate closings *Extraterritorial Jurisdiction *Require Commercial Land Disclosure Form for all vacant land *Allow sales tax referendums to say what they are paying for *Orphan Roads – continue to find solution and funding resources *Deed Transfer on Death Issues *Cost limit for homes in the beach plan *Animals left in rentals *Licensing Wholesalers *School Calendar Law – punishment for districts breaking the law *PAC Law Changes