The Chapel Hill-Carrboro Chamber of Commerce actually named Eller "Young professional of the year" in 2015. With no hint of irony, the Chamber praised Eller's work on behalf of affordable housing.
I've never lived in a house built more recently than 1976, so I have no personal experience with HOAs. I do know, however, that several of my neighbors told me they chose to buy a home in our neighborhood specifically because it does not have an HOA, so I guess they have had bad experiences of them.
"in Chapel Hill, he says, you see older apartment complexes become affordable as new luxury complexes go up nearby"
And then an investor, such as Eller Capital, comes along and buys the older apartment complex, carries out some cosmetic upgrades, and then increases the rent to above what it was before the new luxury apartments were built. Contrary to what the article says, the proliferation of new high-end apartments in Chapel Hill has not made housing more affordable for lower income households.
It still can be a nice park! Woodfield's purchase is contingent on the town approving construction of 400+ apartments on the site. If the Town declines to grant this approval, the deal with Woodfield is off and the town might get another crack at purchasing the land.
"Kleinschmidt is relying on a strong base of Democrats. Forty-three percent of Democrats support the incumbent, 28 percent of Republicans and 23 percent of independents. "
I'm not sure the Democrats are going to be all that helpful to Kleinschmidt. In the poll, 39% of Democrats supported Hemminger. Because the poll has a 4.5% margin of error, there is statistically no difference in the amount of support Kleinschmidt and Hemminger have among Democrats.
" In my personal opinion, what Council is doing is the best strategy."
Mark, what facts or evidence would persuade you that what Council is doing is not the best strategy?"
Mark, in your research you are looking only at the revenue side of the equation; you are entirely neglecting to factor in the additional expenditures associated with the anticipated redevelopment. The Orange County planning staff considered both costs and revenues and concluded that the redevelopment, because of its residential skew, will end up costing more than it generates in new revenues. Here's an excerpt from their January 2015 fiscal impact analysis:
"Based on information provided, the County would potentially receive incremental property tax revenues over three phases of the Project of approximately $14 million. County expenditures, based on current County financial policies and guidelines, would total $23 million prior to the requested debt contribution. After paying the requested debt contribution of $400,840 over 20 years, Attachment B-1 reflects Scenario 1 where the County would net a deficit of incremental tax revenues of $10.4 million. This scenario includes the cost impact of providing County services affected by the project, as well as the 48.1% target impact of General Fund revenues provided to Education, and the costs to fund the additional students in each phase of the project at the current per pupil amount of $3,571 per pupil."
This is why, at present, the County is not planning to contribute funds toward repaying the $16 million debt associated with the EF redevelopment. And Chapel Hill's own staff estimated that, without County participation, it will take at least 20 years for the town to simply break even on the EF redevelopment, and that estimate is based on overly sanguine assumptions about costs and revenues.
The Orange County staff memo can be downloaded here: http://www.orangecountync.gov/January_27__2015.pdf
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