The City of Fayetteville Bonds that were presented on the November 8 ballot passed with a 67% percentage. Now that the bonds are passed…what’s next?
HOUSING BOND – $12 million
* $9M – yields up to 500 new units * $1M – yields up to 20 new single family homes, the city will be looking for a development, construction, and financing partners * $1M – yields up to 40 homeowner rehabs * $1M – yields up to 40 first time homeowners
PUBLIC INFRASTRUCTURE – $25 million
* $15M – street resurfacing, estimated total of 63 miles of resurfacing * $8 – sidewalks * $750k – estimated 3 road miles * $1.25M – intersection improvements
PUBLIC SAFETY BOND – $60 million
* 911 Dispatch Facility – New facility on new site * Fire Station #16 – Replacement facility * Fire Station #9 – Replacement facility * Fire Station #2 – Replacement facility
The Cumberland County Board of Commissioners recognizes the importance of public participation in good governance and invites County residents to apply to serve on the County’s citizen advisory boards.
Some of these boards meet during the day. Before submitting an application, please check the meeting schedule to be sure you are able to attend the meetings. Click on the links above to view a description of the citizen advisory boards, meeting schedules and current vacancies.
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.