Fayetteville City Council Rezonings

The followings rezonings were approved as they relate to the real estate industry

Case P23-04 – rezoning of 16.98 acres of an 18.85 acre parcel from single-family, agricultural residential and neighborhood commercial to 16.98 acres of mixed-residential and retain 1.87 acres of existing neighborhood commercial.

Location: 0 Morganton Road
What’s Proposed: Future Commercial or multi-family use. The zoning change would make the site most adequate for apartment development.

Case P22-48 – rezoning of 12.23 acres from conditional single-family residential to mixed-residential conditional.

Location: 7237 April Drive
What’s Proposed: 72 apartment units located off Rim Road

New Multi-Use Development Planned in Sanford

from The Sanford Herald

A Sanford businessman has purchased a parcel of land that is intended to be used in bringing a mixed-use real estate development to the area.

George Avent, president of AVENT DSI, Inc., purchased the property, which is located on Kelly Drive between the U.S. 421 bypass interchange and Central Carolina Community College, in a deal that closed on Dec. 15 and said the planned development will feature 250,000 square feet of retail space, including a hotel, and a bowling alley, several eateries; and 30 lots to accommodate 20 affordable single-family homes and 10 townhouses.

The company presently owns approximately 60 acres spread over six parcels in Lee County.

The main attraction that the site holds for the national retail chains such as Home Depot, Target and Harris Teeter and the multinational home builders such as Caruso Homes is its location.

“Sanford is one of the hottest markets in the Greater Triangle for new residential commercial development,” Terrie Tinney, sales manager for Caruso headquartered in Crofton, Maryland, said Tinney heads the Caruso local office in Raleigh.

Avent conceded that rising interest rates and the high costs of infrastructure have slowed this project, but he expects conditions to get better during the duration of the project.

Such conditions caused the company to decline an offer to purchase a favorable Swann Station Road site from Charles C. Tacia III (Chris) and James M. Wood to add to its real estate portfolio. However, Mr. Avent and his representative Phillip Singer hopes to reengage the sellers at a future date when conditions improve if the property remains available.

Important Housing Information from NC REALTORS®

The Advocate
January 6, 2023 Federal Funding Update

President Joe Biden signed H.R.2617, the 2023 Consolidated Appropriations Act, into law on December 29, 2022. The bill is a $1.7 trillion omnibus spending bill that will fund the US federal government through fiscal year 2023. The bill includes funding for domestic and foreign policy priorities. The sweeping spending package includes numerous real estate provisions. The funding, which is supportive of the real estate industry, includes: Federal Housing Administration Funding – Up to $400 billion in FHA commitments to guarantee single-family loans. Fair Housing – $86 million for HUD’s fair housing grants and activities. HOME Investment Partnerships Program – $1.5 billion in funding to provide grants to states and localities for affordable housing initiatives. Housing Supply – $85 million for grants to reward state and local jurisdictions that reform land-use policies and remove barriers to affordable house production and preservation. Rural Housing – $2 billion for USDA’s Rural Housing Service. Flood Insurance – Extends the National Flood Insurance Program through September 30, 2023. Increased flood map funding to $313 million. Broadband – $364 million in broadband grant funding. Infrastructure – $62.9 billion for Federal Highway Administration. To view a list the full list of real estate related funding, click here.

State Issue Update – Elevator Safety Reporting Form for Residential Rental Properties

The NC Department of Insurance recently released an elevator/hoist safety reporting form. The elevator safety reporting requirement is the result of the passage of Weston’s Law in 2022.

Weston’s Law, HB 619, is a bill addressing elevator safety by requiring elevators in rental homes eliminate or reduce the space between elevator doors and landing doors. It was signed into law by Gov. Roy Cooper in 2022 and became effective October 1, 2022.

The bill is named in memory of a young child from Ohio who died because he was trapped between the elevator car and elevator shaft at a rental home in the Outer Banks.

The safety requirements in the Act applies to any elevator in a private residence, cottage or similar accommodation subject to taxation under G.S. 105-164.4F.

To access the reporting form, click here. Once the door baffle, door space guard, door or gate is installed, the landlord will need to provide the Commissioner of Insurance one of the following: A statement signed by a professional elevator installer certifying installation of the door baffle, door space guard, door, or gate meeting the requirements of the law. A receipt for purchase of the door baffle, door space guard, door, or gate meeting the requirements of the law, a signed statement by the landlord stating the date of installation, and photographs depicting the door baffle, door space guard, door, or gate as installed. The reporting form also requires property owner information such as the name, address and contact along with the required documentation listed above. The one page form provides additional details along with contact information.

If you have any questions or comments about the Advocate, please contact Pam Melton, Director of Political & External Communications.

LINKS TO MORE RESOURCES NAR Washington Report NC General Assembly NC REALTORS® Action Center NC Real Estate Commission NAR REALTOR® Party NC Homeowners Alliance
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Fayetteville Forward Bond NEXT STEPS

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

Cumberland County Seeking Seats for Boards & Committees

YOU MUST BE A RESIDENT OF CUMBERLAND COUNTY TO APPLY

Links and Resources

Information

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.

Download Application Form

You may submit your downloaded application by fax to 678-7770 or mail to PO Box 1829, Fayetteville, North Carolina 28302-1829.

Sanford City & County Set Hearings for New Shell Building

from Sanford Herald

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.