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Local
Government
Chapel Hill Approves New Guidelines for Housing
The Chapel Hill Town Council adopted an
Inclusionary Zoning Ordinance to guide developers to include low- and
moderate-income housing, priced at 65-80% of the area's median income.
See the full article by 1360 WCHL.
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Chancellor
Braces UNC Employees
At a meeting for the Community Leadership
Council, UNC Chancellor Holden Thorp was bleak about the future of
UNC's budget. Shortfalls might affect jobs, enrollment levels, or
talent recruitment. See the full
article by 1360 WCHL.
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Chapel
Hill Cuts Bus Service
The Chapel Hill Town Council modified transit routes and
schedules to save more than $340,000 next year. Gone from the transit
system will be the weekday feeder service for residents not near a bus
line and Shared Ride services on Sundays and evenings. ADA eligible
trips will not be affected. See the full article by The Herald-Sun.
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Chapel
Hill Among Best Places to Live
Money Magazine ranked Chapel Hill 40th in the nation for the
best small cities in which to live. The magazine considered economic
climate, cultural attractions, schools, crime, and recreation in
assigning the rankings. See the full article by The Triangle Business Journal.
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Visitors
Bureau Absorbs Orange County Arts Commission
The Orange County Arts Commission moved from Hillsborough to
West Franklin Street at the Chapel Hill/Orange County Visitors Bureau.
Last month, the Orange County Board of Commissioners reflected on both
organizations' operations, and consolidated the Arts Commission to the
Visitors Bureau. The Arts Commission distributes more than $60,000 in
grants each year for local programs and art installations. See the full article by The Herald-Sun.
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East Gate/Rams Plaza Area Planning Meeting Set
The Ephesus Church/Fordham Small Area Planning Initiative will
meet for the first time on July 22 at the Chapel Hill Library. The
group will consider the traffic conditions, possible land uses, and
development strategies. See the full article by The Herald-Sun.
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Chapel
Hill Begins Housing Study
As part of the 2008 economic development strategy, Chapel Hill
began a housing market study to analyze market growth and the value of
home sales. The study will also focus on affordable housing to go
along with the Orange County Consolidated Plan for providing affordable
housing over the next five years. See the full article by The Herald-Sun.
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Public
Meeting for Franklin Street High Rise
140 West, an eight-story development planned for the town's Lot 5
on Franklin Street, will hold a public meeting to share information
with residents. The project will provide 140 residences, a two-story
parking lot, and 26,000 square feet of retail space on the ground
level. For more details on the meeting, see the full article by The Chapel Hill News.
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Economy
Stalls Carolina North
The initial Innovation Center for entrepreneurial spin-offs may
be delayed along with the Law School project. The Med Air program is
waiting on construction at RDU to finish before moving sometime in the
spring of summer of 2011. See the full article by The Carrboro Citizen.
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The Triangle Region
Chatham
Declines Hotel Tax Increase
The Chatham County Board of Commissioners did not follow through
on a plan to raise the lodging occupancy tax from 3% to 6% after
hearing feedback from the community. Tourism pumps $25.35 million
into Chatham County's economy, or $1.45 million in county revenues. See
the full article from The Chapel Hill News.
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Triangle
Unemployment Down
The Employment Security Commission of North Carolina reported
that Triangle Unemployment decreased to 8%. Orange County held steady
at 6% from April to May. See the full article by the Triangle Business Journal.
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Report:
Triangle Economy Looking Up
NC State economist Mike Walden's semi-annual Economic Outlook
reports sees the state economy improving in the next two years.
Walden expects 70,000 to 80,000 new jobs in both 2010 and 2011.
Unemployment will likely decline, with the Triangle falling among the
lowest rates at 6.7% in 2011. Walden cautions against high real estate
costs but praises current job creation rates. See the full article by The Herald-Sun.
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State and Federal
General
Assembly Passes Budget
For the first time since 2003, the General Assembly passed the
state budget on schedule by the end of June. Governor Perdue signed
the bill into law soon after. The recession created an $800 million
spending gap, but Perdue predicts the budget will create or protect
20,000 jobs over three years with a small-business tax credit and a new
transportation fund. See the full article by the News & Observer.
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State
Regulates Towing
Business owners will now be responsible for prominently posting
tow company information. The new law limits towing beyond a 15 mile
radius in most cases and prohibits vehicle owners from being forced to
waive their rights to claim their vehicle. See the full article by the News & Observer or the Durham News Service.
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State
Ranks High for Business
CNBC ranked North Carolina fourth among states for doing
business. The results were based on the economy, cost of doing
business, business friendliness, transportation and infrastructure,
technology, education, work force, and other criteria. See the full article by The Triangle Business Journal.
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Hospitality
Jobs Lead Job Growth
The unemployment rate in North Carolina fell almost half a
percentage point to 10% in June, according to the Employment Security
Commission of NC. 7,900 new jobs were in hospitality and leisure
sectors of the economy. See the full article by The Triangle Business Journal.
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Senate
Passes Financial Reform
The financial regulatory reform bill has passed both houses of
Congress and awaits the President's signature. The bill imposes
capital and leverage requirements and creates a system to liquidate
faiing banks. It adds regulation to over-the-counter derivatives and
creates a financial watchdog agency. See the full article by The Triangle Business Journal.
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State
Sales Tax Holiday Set for August 6-8
Items like school supplies, computers, and clothing will be
exempt from the state sales tax the weekend of August 6-8. Retailers
may not charge sales tax on certain items. For details, visit the sales
tax holiday website from the state Department of Revenue.
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