Two For Tuesday | February 7, 2023

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1. WSACC’s Chad VonCannon Featured Guest | REBIC Event Feb. 27, 2023At our next REBIC Public Policy Breakfast, Chad VonCannon, Engineering Director for the Water & Sewer Authority of Cabarrus County (WSACC) will be on hand to discuss how his organization is approaching the challenges that come with the benefits of growth and economic development.  Details on the event follow below.

   2.  Charlotte Housing Committee Meets, Promotes Housing Initiatives

   All four of the Charlotte City Council’s Committees met yesterday, the new protocol for the first Monday of every month.  Of particular interest was the action taken by the Housing, Safety, & Community Committee. It advanced a fee reimbursement pilot project and discussed several housing affordability strategies promoted by REBIC and our real estate industry partners.  Links and other information follow.

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1)  WSACC’s Chad VonCannon to Present at Upcoming REBIC Public Policy Breakfast

Please join us for our next REBIC Public Policy Breakfast with Chad VonCannon, Engineering Director for the Water & Sewer Authority of Cabarrus County (WSACC).  During this session, Chad will be on hand to discuss how WSACC is approaching the challenges that come with the benefits of growth and economic development and how he and his organization are working in partnership with us and others in the industry to address these issues.
Click this link to see this event on our online calendar and to add to YOUR Google Calendar

Canopy Realtor® Association Building
Room 101
1120 Pearl Park Way
Charlotte, NC 28207

RSVP HERE:

[email protected]

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2) Charlotte Housing Committee Meets, Promotes Housing Initiatives

The Charlotte Housing, Safety, & Community Committee received a presentation from Staff on housing affordability strategies being promoted proactively by the real estate community.  They included the following which have been separated into three categories:

Funding Related:

• A new property tax incentive tool for mixed-income multi-family projects — a time limited, graduating property tax reimbursement (City and County)
• Fund or subordinate debt/bridge lending – private/philanthropic partnership

Process and Time Related:

• Offer concierge service to all projects that include affordable units (not just Housing Trust Fund)
• Dedicated rezoning queue/prioritization for projects that include affordable units
• Add capacity for rezoning cases each month
• More clarity and predictability in process
• On for sale projects, broaden the definition of affordable to match House Charlotte parameters (UDO development incentives)

State Level Advocacy:

• Amend definition of “affordable” in state law (20% set aside at 60% AMI is too restrictive, 10% at 80% AMI more feasible)
• Expand eligibility for Homestead Act exemption (tax relief)
• Establish state Low-Income Housing Tax Credit program
• Address challenges with state building code for commercial to residential conversion

The committee ultimately voted to endorse a fee reimbursement pilot program recommendation to the full City Council.  Details include:

• Allocating up to $1.5 million in ARPA funds for the program
• Targeting 3-4 projects
• Periodic updates will be provided to City Council
• Program will be evaluated after one year or at time of full allocation of funds, whichever comes first.

Click Here for Video of Committee Meeting

Click Here for Video of Full City Council Discussion

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