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@businesstodaync
April 2019 Published monthly
YEARS
Business Intelligence for the Golden Crescent: Lake Norman • Cabarrus • University City
NEWS INSIDE I-77: Get your transponder? There’s some last-minute flailing around the toll lanes, but they’re coming
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Muy beer A Cornelius brewer mayexpand into NoDa
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Fight fire with Insurance A catastrophic fire can mean catastrophe for a business
Volume 18, Number 1 $1.50
Davidson after Beaty: It’s a wonderful life Conservancy ultimately beat out currency as the Davidson Town Board voted unanimously March 26 to create a permanent conservation easement for a park on about 20 wooded acres along Beaty Street, not far from downtown. To the joy of some and dismay of others, the decision settles a long-running dispute that pitted development interests against citizens and preservation interests. Supporters of a proposed commercial development Beall wanted to grow the town within guidelines and generate an estimated tax revenue of $350,000 per year. Opponents of the project advocated for more open space and less density.
To your health: NOVANT 2018 Results (in millions of dollars)
Operating revenues
$4,985.9
Operating expenses
$4,713.7
Operating income
$272.2
Investment income (loss)
$160.5
Net income
$94.0
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See Story pg 9
For members of the Clontz family, which sold the Beaty Street land to Davidson, the wish for a park dates back to the early 1980s, when Venie W. Clontz first mentioned a willingness to sell the land for a park. Her grandson, Ralph Clontz, said at the recent town meeting he was pleased to see his grandmother’s vision fulfilled. Jenest He commended the task force members for making “the right decision.” Ralph Clontz commented that Davidson has created a “gem,” and it’s
hard to realize now how much enjoyment people will get from the park for generations to come. The mood outside the town hall after the recent meeting was jubilant and supporters commented it would be “cool” if the new recreational space was named “Clontz Park.”
Fight for green Citizens responded with an uprising after Davidson Development Partners, comprised of four private investors, proposed the “Luminous” project. A presentation in February 2017 described the project as a “vibrant, mixed-used community centered on community, connection and purposeful living.” See Park page 22
Who pays for coal ash clean-up? BY ERICA BATTEN After weighing three different closure options for Duke Energy’s six coal-fired North Carolina plants, the state’s Department of Environmental Quality ordered the energy company April 1 to excavate its coal ash basins and place the waste in lined pits. “We are excited and relieved that Duke Energy will finally have to clean up its coal ash mess,” said Drew Ball, state director of Environment North Carolina. “Gov. Roy Cooper and DEQ Secretary Michael Regan have taken a historic step and are standing on the side of the environment, public health and science instead of kowtowing to one of the most powerful corporations in our state.”
Nevertheless, Duke Energy is the backbone of the state’s economy, powering not just small business and industry but today’s digital economy and economic development efforts. The cleanup will cost hundreds of millions if not billions of dollars. Of Duke Energy’s 14 coal-fired plants in North Carolina, Marshall has more than a quarter of the coal ash: 16 milSee Coal page 2
RECORDS Page 15
Transactions
Foreclosures
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New Corporations
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Transactions
Foreclosures
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Foreclosures
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New Corporations
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New Corporations
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