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bigdayatthelake.com July 2016 Published monthly
Business Intelligence for the Golden Crescent: Lake Norman • Cabarrus • University City
Volume 15, Number 4 $1.50
ALEC provides legislators input on new laws, policy
I-77 toll plan moves forward. ALEC drafts model legislation with input from business and politicians. It is active around the country, including North Carolina where a “House Select Committee on Public-Private Partnerships” was established by NC Speaker Tillis in 2011. The P3 legislation helped pave the way for the $650 million contract be-
By Erica Batten While traffic congestion and concerns about fast-paced development are common on the eastern side of Lake Norman, the lake’s west shore is relatively congestion-free. But with red dirt being turned up by the ton these days in Sherrills Ford, Denver and adjacent communities, there’s no doubt the west shore will catch up to its neighbors on the other side of the lake. For investors, that’s good news. “There is goMCMAHON ing to be a long period of time of growth in the Denver market,” said Tom McMahon, managing director of SVN Commercial Real Estate Advisors in Cornelius. “The fact that the Denver market is in the infancy of growth makes it a very good opportunity for investment dollars to go to.” For now, the west side has some advantages when it comes to traffic. The four-lane N. C. 16 Bypass provides an
See ALEC Page 18
See WEST LINCOLN Page 19
LNTC: Sometimes politics and regionalism have Page 2 marital strife
Huntersville-based Fridayd is the app for today’s job applicants Page 3
Taking a fresh look at education and landing a job Page 6
Small Business Toolbox .10-11 News-e . . . . . . . . . . . . . . . . . . 12-13 Book Review . . . . . . . . . . . . . . . 22
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RECORDS Transactions Cabarrus 14 Mecklenburg 14 Mooresville 14 Foreclosures Cabarrus 16
Mecklenburg 16 Mooresville 17 Corporations Cabarrus 17 Mecklenburg 17 Mooresville 17
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mer 2016: TIllis’ name is no longer on ALECs membership roll. “It’s true that Sen. Tillis was a member when he was in the North Carolina House,” said Tillis spokesman Daniel Keylin, “but he is no longer a member now that he is in the U.S. Senate.” Keylin didn’t offer a reason for TIllis’ departure from ALEC. But ALEC is the subject of considerable animus as the
DATED NEWS - POSTMASTER PLEASE DELIVER BY 7/8
Artists paint a bright economic outlook for downtowns
U.S. Senator Thom Tillis
By Dave Vieser It was spring 2011 and former NC Rep. Thom TIllis, along with 31 other legislators were in New Orleans for the annual conference of ALEC, the American Legislative Exchange Council. Tillis was one of eight state lawmakers around the country to win 2011 “Legislator of the Year” awards from the group. Now, fast forward to sum-
Pace of West Lincoln growth brings worries for traffic, lake
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2 July 2016
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By Dave Vieser As per usual, the Lake Norman Transportation Commission will be skipping its July meeting, but when members reconvene in August, it may also have a whole new look and some new members. Meetings have been ongoing for the past several months to form a new LNTC with some different members, after both Cornelius and Huntersville pulled out, taking their funding with them. The draft memorandum of understanding which has been circulating would have a clear Iredell County flavor including original members Davidson and Mooresville, plus Troutman, Statesville and Iredell County. Unlike the previous LNTC, which received $20,000 from each of the four town members, the new commission would receive different amounts of money from the various members. Cornelius and Huntersville have bailed out. Regional coordination around transportation issues is “90 percent town managers, assistant managers and board members” simply doing their job rather than setting up separate organizations, explained Cornelius Town Commissioner Dave Gilroy. “The original LNTC had an important mission to support regional transportation, especially as it pertained to the I 77 toll lanes, but they failed so miserably when it counted most,” he said. The LNTC was largely silent during the toll lane debacle, despite local boards and commissions voting to cancel the toll contract. The LNTC also tried to bring the Red Line commuter rail to Lake Norman, but failed to check in with Norfolk Southern around using their tracks. Cornelius Mayor Pro Tem Woody Washam said Cornelius and Huntersville plan to establish a transportation
collaborative between the towns—and “hopefully” Davidson—to discuss priorities that can benefit North Mecklenburg. Huntersville Mayor John Aneralla said their intent has always been to continue working with their neighbors on regional transportation issues. “We feel this can be accomplished without an additional paid staff person by elected officials and respective transportation staff personnel meeting regularly most likely prior to CRTPO monthly meetings. Whether or not this is a formalized group or just an ad hoc monthly meeting has yet to be determined,” Aneralla said. It appears the recast LNTC will hold open monthly meetings. Statesville spokeswoman Nancy Davis said the county seat will chip in $10,000 to help fund the LNTC each year. Mooresville Town Manager N. Erskine Smith said Race City will join in with Davidson, Iredell County, Troutman and Statesville as well. “These entities haven’t adopted a new MOU yet, nor have they determined the financial contribution of each party,” he said. Regional transportation planning is important. Governing bodies that join in have more clout than those that go it alone, especially when there’s a transportation element in the room like Charlotte, which dominates Charlotte Regional Transportation Planning meetings. All of this is music to the ears of LNTC Executive Director Bill Thunberg. “I continue to believe that the LNTC is a valuable regional collaboration model. I hope Huntersville and Cornelius become involved with it later on. That kind of collaboration is so important and something we should all be doing,” said Thunberg, a former mayor of Mooresville.
Making the job hunt easier typical online job boards, Fridayd continues through the application and tracking processes and provides a do-it-for-me approach. “I like to think of it as having your own Carlos Paz wants to make the job search ‘feel like Friday’ job search team, By Dave Vieser working side by side to help you find Most individuals faced with the pros- the right opportunities and throw your pect of hunting for a new job agree hat in the ring with you.” Launched in March 2015, Paz claims that the current online job search and application process is frustrating. The no other company is doing what they procedure hasn’t undergone any real do: Turning the job search industry innovation since the implementation in the favor of job seekers. They offer of job boards over a decade ago. Enter three different prices for their clients Huntersville-based Fridayd, the job monthly packages, ranging from no fee for the basics to $79/month for seeker’s virtual assistant. Fridayd arranges for job seek- “premium service.” The results have come quickly and ers to uncover the most relevant job postings, apply for the jobs they are the reviews have been very positive. interested in, get recommended net- “I took a year off to have my third working connections and track all of child and getting back into the worktheir progress in one at-a-glance dash- force was a daunting task,” said Heidi board, without doing any of the labori- Lieske, who lives in Maryland. “Using Fridayd eased a lot of the pain and ous work themselves. CEO Carlos Paz launched the firm anxiety of the job search.... I had three when he himself was looking for work. interviews and accepted an offer eight “Starting a new business when you weeks to the day after I began my job are unemployed may not seem like the search.” The education industry has also takmost opportune time, especially if you don’t know where your next paycheck en notice. “It was an obvious choice is coming from,” said Paz, “but in my for us to offer Fridayd to all Univercase, unemployment allowed me to sity of Michigan alumni members,” see a big problem and a way to fix it.” said Amy Homkes-Hayes, manager of Fridayd was launched with a seed in- career and professional development. vestment and original capital totaling “We are excited for active or passive more than $250,000 plus funds from a job seekers to have access to Fridayd Kickstarter campaign. The company when navigating their job searches in kicked off an additional capital cam- today’s complex world of work.” Their offices at 9820 Northcross paign in May of this year. Paz said he was astounded by the Center Court provide access to seven online job seeking process. “Tech- meeting rooms, including a 50 foot by nology hadn’t really improved the 50 foot gathering space, and an exerprocess which included repetitively cise room. There are a total of 20 emuploading resumes on numerous dif- ployees. In their first six months of operation, ferent systems, endlessly completing online applications and forms, trying the company generated $26,000 in revto find networking connections and enue, and their revenue goal for 2016 is to reach $400,000. “We believe our then tracking all of your efforts.” As a result, Paz and his team formed growth potential is endless” Paz said. a process which streamlines and ac- “There is no shortage of job seekers celerates the job search. They start and I believe the strength of our innoby learning user preferences, which vative approach gives us a clear marenables users to get the most highly ket advantage in the U.S. with the abilrelevant search results. Unlike many ity to grow globally.”
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4 July 2016
Photos by Marty Price
Concord art scene benefits from non-profit partnership with city
Sunya Folayan poses for a portrait with some of her fiber art in her studio. Folayan lives “within walking distance” of the Clearwater Artist Stuidios.
By Marty Price When Noelle Rhodes Scott, president and CEO of the Cabarrus Arts Council first came to the CAC, there was a grand total of one employee—her. Now she has a budget of $988,288 and eight employees including herself. Art was a billion-dollar industry in North Carolina in 2010. A new study gets under way soon, and Scott says the economic impact of art is growing. “The downtown area has flourished,” in part due to the events that the art council initiated, Scott says. Art also serves as a recruitment tool for the city as it tries to woo new businesses and for employers trying to lure new hires to the area. “Now, in the days of computers and a lot of remote working, many people can live where they want to and the arts are a primary thing that draws them,” Scott says. Scott said that when she started at the CAC, “The Cabarrus Art Guild was very active with local artists, but there wasn’t a gallery where art was being brought in by various artists. Our priority was to start a gallery where people could come in and see something that they wouldn’t see anywhere else.” Around 300 people came to the first Art Walk, helping fill shops and restaurants. When live performances were added at the Davis Theatre, more people came. The local art scene solidified when the city-owned Clearwater Artist Studios
opened in the Gibson Village neighborhood. Rent in the 38,000 square feet of combined studio spaces is based on a sliding scale-with the highest rate being $4.25 per square foot per year. There are currently 16 artists leasing 13 spaces ranging from 200 square feet to 1,600 square feet. Sarah Gay, manager for Clearwater Artist Studios, said some of the artists that have their studios here moved their homes nearby, strengthening the neighborhood. Artist Sunya Folayan moved her family to Gibson Village within walking distance of her studio. Nevertheless,
it’s business: She has made several thousand dollars for a commissioned historical narrative quilt. “Make sure it (your art) is something you love and are willing to do without getting paid for it. If you stick with it long enough, you will get paid for it,” she says. In Cornelius, Elie Zeidan is an artist who owns and runs Cafe Elie, a combination art studio and gallery, complete with a wine bar. He offers classes to a wide range of students, but he doesn’t paint a picture of a large impact from the arts in Cornelius. “There is ‘Tawba Walk, which is a good concept. They bring in vendors who sell their own products but not specifically art,” said Zeidan. The town is not expected to fund the organizer of ‘Tawba Walk, a forprofit called Bella RHODES SCOTT Love, with $75,000 in financial support over three years. “We need to organize more art shows for artists to show their work. It has to be once a month and only art, nothing else. That would help the businesses and the artists as well,” Zeidan said. The Arts and Economic Prosperity IV study said total arts-related expenditures in 2010 were more than $1.23 billion in North Carolina. A new study is due next year.
Kannapolis artist Walter Stanford takes a break in his work space at Clearwater Artist Studios. Stanford said he enjoys the collaboration with other artists.
New business development director at NCRC June 14. Chris Ervin is the new director of business development at the North Carolina Research Campus in Kannapolis. He will work to bring research to market, invite new ERVIN business to the NCRC and promote economic development. On the job since May 17, Ervin is meeting with campus leaders to identify the technologies best suited for targeted outreach to industry. “There is a lot of interest in the gamechanging potential of the research at the NCRC,” Ervin said, “making this the right time to focus on moving research through the commercialization process and into the marketplace.” Ervin brings over 30 years of experience in business management and entrepreneurship that enhances the traditional business development role at the NCRC.
Lopez joins Mooresville accounting firm Kristy H. Lopez, CPA, Tax Senior, has joined the growing practice of Larry Powers CPA in Mooresville. Kristy will assist small to mediumsize businesses and individuals with their tax and accounting needs.
National honor for Cabarrus College faculty June 7. Michelle Gay, program director for surgical technology at Cabarrus College of Health Sciences, was awarded the highest honor of Fellow at the Association of Surgical GAY Technologists’ national conference in San Diego. The Fellow of the Association of Surgical Technologists (FAST) designation recognizes individuals who have upheld the highest professional standards and traditions of the surgical technology profession and whose professional activity has been devoted to the advancement of the profession toward improving the quality of surgical patient care.
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New college career prep casts shadow on some four-year degrees
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By Erica Batten Will “badges” replace the traditional four-year college degree? The average college graduate now owes more than $35,000, according to a recent study conducted by the Hamilton Project, an economic policy initiative at the Brookings Institution. Perhaps that’s why high school grads are looking for alternatives. “Traditional college credentials, based on arbitrary amounts of time spent in obsolete institutions, will fade
into memory,” said Kevin Carey in his book, “The End of College.” “Overcoming the college diploma’s tick-like embeddedness in the labor market will require the creation of credentials that have huge advantages over the traditional diploma,” Carey said. He’s talking about a new breed of credentialing evolving from open courseware offerings at MIT and other heavy-hitters in the traditional univercontinued on page 7
Castle & Cooke North donates land to RCCC for tech center
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Rowan-Cabarrus Community College has received a two-acre donation of land from David H. Murdock, founder of Castle & Cooke and NC Research Campus, for a 60,000 square foot Advanced Technology Center. The building in Kannapolis will be adjacent to the college’s existing building on the research campus. The donation allows the two organizations to strengthen their workforce development partnership at the NC Research Campus and throughout the region. Carl M. Short, chair of the RowanCabarrus Community College Board of Trustees, said the location will leverage the resources of the North Carolina Research Campus with the College’s history of workforce development “to bring wonderful new opportunities to our region.” The ATC will offer industry-recognized certifications, hands-on skills and customized training and support services to address the educational needs of companies with high technology de-
mands and in emerging fields. Advanced technology is constantly evolving. The new facility will allow RCCC “to ensure that the local workforce remains qualified and current, key components of economic development,” Funding for the ATC was approved by Cabarrus County residents in the 2014 Rowan-Cabarrus bond referendum with over 64 percent of the vote. The concept for the ATC originated from interviews with experts in information technology, energy, manufacturing, construction and healthcare fields, along with conversations with other local colleges, economic development leaders and futurists from the local service region. “We are proud to provide the additional funding for the state-of-the-art educational space,” said Steve Morris, chair of the Cabarrus County Board of Commissioners and member of the Rowan-Cabarrus Community College Board of Trustees.
Cabarrus County continued from page 6
sity network. In this 21st century schematic, anyone can complete courses from any number of organizations and receive electronic, verifiable “badges” that certify what the student knows and is able to do. What’s more, these badges can accumulate over a lifetime of continuing education. In other words, the “University of Everywhere” could spell an end to college—and the four-year degree—as we know it. And with that end, the student debt crisis may also be a thing of the past. Carey envisions a future in which “belonging to a learning organization will not involve massive expenses and crippling amounts of debt.” That’s big news to a nation whose student-loan debt now tops $1 trillion. Community colleges now educate nearly half of all students in higher education, said Central Piedmont Community College President Dr. Tony Zeiss. He says CPCC has a reputation for meaningful job training. “We get [students] trained and in jobs faster than four-year colleges or universities,” Zeiss said. “We are now devel-
oping fast-track training programs that will accelerate this process even faster.” Zeiss said job placement rates are especially high in the health professions, trades, culinary fields and information technology. “Some programs, like Non-destructive Examination, have employers offering to hire every graduate they can produce,” Zeiss said. A 2012 report from the Georgetown University Center on Education and the Workforce showed that the number of certificates awarded has skyrocketed some 800 percent over the past ZEISS three decades. Carey said the traditional university system evolved hand-in-glove with professions to create a kind of mutuallybeneficial shorthand. The four-year degree stood not only for academic accomplishment, but also for a certain amount of commitment, responsibility, and experiential sameness. For employers forced by the vastness of society to hire strangers, the degree saved a lot of time. Subsequently, a college degree
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became a legal prerequisite for entering some professions. Unfortunately, limiting potential employees to those possessing a certain piece of paper also meant excluding scores of workers whose life experience, employment history and personal interests made them better candidates. Carey thinks the “University of Everywhere” will solve this problem by offering credits from a vast array of schools and other organizations. According to a recent “New York Times” story, such titans as NASA, 4-H and the Smithsonian are also experimenting with badges.
It’s not that the notion of education happening outside school walls is new. More than a hundred years ago, Mark Twain famously quipped, “Some people get an education without going to college. The rest get it after they get out.” What’s new is that alternatives are opening up so that no matter how students get their education, they can get credit for it. The question is, will employers accept this new digital shorthand, or will they continue to rely on traditional degrees to screen candidates? With the student-loan crisis at record levels, it may be a gamble students are willing to take.
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Widening of W. Catawba means change for merchants By Dave Vieser Even though construction is more than three years away, a meeting in June about widening West Catawba Avenue in Cornelius from Jetton Road to Hwy. 73 attracted well over 100 people, including many business owners. The purpose of the meeting was to inform everyone about the proposed improvements and to obtain their
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comments. And comments they got: Lake Norman Chamber President Bill Russell has called West Catawba “Lake Norman’s Main Street.” The NCDOT plans call for the removal of at least two businesses: The State Farm building at 18738 W. Catawba and the mini storage buildings nearby, both of which are across from the Wherena Marina building.
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“This plan is still tentative, but this was the last opportunity for the public to comment,” said Cornelius Planning Director Wayne Herron. For the remainder of this year, the NCDOT will be finalizing the plan, and prepare for property acquisition. So if there are any changes to be made, they must be done soon. One of the major concerns among commercial property owners on West Catawba are plans to eliminate many left turns along the widened stretch, which will be divided by a median. Studies indicate that while destination businesses, such as a furniture store, are not severely impacted, impulse businesses, such as a fast food, can suffer when left turns are restricted. This could be especially harmful to businesses such as Dunkin Donuts and Penn Station Subs, which opened less than a year ago right along the stretch that is to be widened. Jan Black, coordinator of marketing and special events at Port City Club, said “we will fight to get that [no left turn] reversed.” NCDOT’s Warren Cooksey says they are attempting to eliminate left turns along newly widened roads and at newly widened intersections as much as possible because they are “unsafe, inefficient and not pedestrian friendly.” The proposed expansion of the road has already had a significant impact on one well-known builder: Classica Homes had planned to build 40 attached, age-restricted single-family homes on West Catawba, across from Elevation Church. However, when the footprint for the widened road was unveiled, Classica put the project on hold. “We hated to do this at the last minute” said Rick Jasinski of Classica Homes. “But the information we received from the NCDOT brought the widened road further onto our property. We’re evaluating whether the homes would be viable with the widened road.” There was also some good news: The proposal will continue to permit motorists to turn left from a widened West Catawba Ave onto Hwy. 73—at least until 73 is further widened. Initially, NCDOT was not going to permit motorists to turn left toward Birkdale, I-77 and other points east.
“The 73 widening is about three years behind Catawba,” said NCDOT Division Engineer Scott Cole. “After talking to the town officials and hearing their concerns, we agreed that it made no sense to rebuild the intersection twice.” The West Catawba widening is currently not scheduled to begin until 2020; Sam Furr Road/Hwy. 73 will be widened at some point later on. While maps showing where the widened four-lane highway may be located were carefully scrutinized, NCDOT officials emphasized that the final route and impact could still change. “Those maps represent the ‘worstcase’ scenario of potential construction impacts based on preliminary plans,” said NCDOT spokeswoman JordanAshley Baker. “Construction impacts could mean right-of-way acquisition or it could mean a construction easement or other construction-related activities. We will refine the plans this year as the process continues.” The project is a continuation of improvements completed in 2009 along Catawba Avenue between Jetton Road and I-77. Existing traffic volumes already exceed the capacity of Catawba Avenue. One concept which was DOA: A fivelane highway with a middle suicide lane with turns in either direction, still frequently seen in South Carolina and elsewhere. “They are far too dangerous and we will not build any more roads that way,” said Cole. And, as far as the burying of utility lines on West Catawba is concerned, the NCDOT will need a firm decision from the town by mid 2017 to incorporate them into the final design. Burying the utilities could cost in the tens of millions of dollars. The town would foot the bill for aesthetic improvements over and above a basic roadway between Westmoreland and 73. Commissioner Jim Duke says burying the utilities is the appropriate way to proceed. Not so, says Commissioner Dave Gilroy. Stay tuned.
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S mall Business Toolbox
Do What You Do Best Delegate the Rest Successful sales professionals make selling look easy. What makes it look easy are often the unseen, well-honed set of guiding processes that support that person, including delegation. The smartest working professionals have learned they can focus their best efforts and spend their time most productively working in their areas of strength-if they delegate as many functions as possible which they are not the best at, to others. This includes tasks in both their daily business and personal lives. Delegation is initially difficult for those who feel the need for control, don’t like the risk of being let down by someone not doing a task well enough to suite them, or don’t think they have time to delegate. Savvy sales profes-
sionals know they can’t afford to not delegate. Take time to make a solid delegation plan with clear parameters to find out-quicklyjust how strong your sales can become by eliminating tasks that keep you from being your best at selling. Know what you do best. Tasks or parts of projects you enjoy, processes you thrive on- you should spend most of your time doing these things. Accept what you don’t do well. Don’t kid yourself; just because you can do something doesn’t mean you are good at it or enjoy it. If you dread
a task or process, you likely prevent yourself from working at your highest capacity by wasting premium time doing it. Delegate it and spend more time working at your premium capacity. Account for your time accurately. Measure the time it takes you to plan, monitor, complete, and re-do tasks you don’t do well. On a checklist log in when you first recognize a task needs to be done; log in when you start it and when it’s finished. Was all this valuable time well spent by you? Recognize the cost of procrastination. Most people delay what they are not good at or what they don’t like doing. It costs you: 1) delaying the completion of a task, 2) frustrating you and other people who may be waiting for you to complete it. Define your expectations clearly. State the specific requirements of a task in writing (who, what, where, how, when) to help you manage the task upfront with the person who will be doing it. This gives guidance to them as they complete the task and gives you both the evaluation process you’ll need when determining if the job was done well. Seek others who are the best at what they do. Everyone has strengths just like you; find them; tap into their strengths to delegate to and you’ll be happier and more productive. Give timely, clear feedback. Particularly the first few times someone completes a task for you, make time to evaluate it soon after receiving it, don’t just accept the work. You are setting standards for their work (training them); it should be done right the first time. Develop strong relationships.
Communicate clearly upfront, be available-welcoming and responsive-to questions the other person has for you as they work on your work. Don’t hold them up too long or they will guess at what you want and disappoint you both. Be patient; do your best to understand their questions so you can offer them insight on exactly what you want done. Move away from unhelpful relationships without haste. Be methodical in identifying work partners to delegate to, and cultivate the relationship. But if it does not work, move on; you’ll both be happier and you’ll be more productive. Continue to look for more delegation opportunities. Once you’re comfortable with the process you’ll want to rely on it more. Tr y it. Find two tasks you dislike doing or continue to procrastinate doing. Delegate them out using the above checklist. Then compare your results. Were you more productive working in your strengths? Were you able to focus on selling more effectively? Did the task get done sooner than if you had kept in on your ‘to-do’ list? You will most likely be thrilled at finding taking time to delegate allowed you to work to your capacity will allow you to grow your sales faster and stronger. Get started today. Cheryl Kane, MBA, is a strategic business consultant, sales trainer, and professional speaker specializing in service quality. If you seek assistance in growing your business, need a business speaker, or have a question you would like to see answered in this column, Cheryl welcomes your communication at (704) 595-7188 or through her web site, www.cherylkane.net.
Small Business Toolbox
Crowdfunding: Four things you need to know
Getting funding to start or grow a small business used to be difficult and frustrating. Fortunately for small businesses, recently there has been a significant change in the landscape – including a new law enacted in May – making it much easier for businesses to acquire cash. The changes are around Crowdfunding. As the word implies, Crowdfunding is getting the ‘crowd’ to fund your business. This is analogous to having all your Facebook friends kick in money to get your business started or grow it. But Crowdfunding uses a much larger sphere than just your connected friends—essentially anyone. Crowdfunding in a broad sense has been around for years. Due to SEC security laws, it previously was ver y expensive, and in many cases prohibitive for small companies to raise cash via equity investment. Because of these restrictive laws, early Crowdfunding depended upon a ‘pre-sale’ model. You pre-sold your product using early, unearned revenue as the seed capital, often on websites such as Kickstarter and Indiegogo. This model was not ver y effective for ser vice-based businesses, however. Even for product-based companies, it didn’t pay back the investor or provide an ownership stake in the company. Naturally, those drawbacks limited interest among potential investors and the amount of money available. The J.O.B.S. (Jumpstart Our Business Startup) Act in 2012 broadened the ability to raise money, but kept some prohibitive restrictions. But that’s in the past. This May, there was a huge change in the law and the largest obstacle fell. No longer must an investor be “accredited.” Now anyone can be an investor in these early companies.
This development will totally change the capital-raising landscape for small businesses. While the previous options are still available, including pre-sales and borrowing money, these new rules open up the possibilities. Intrigued about the possibility of seeking investors for your small business? Here are three things to pay close attention to: 1. Investor facing financials. A good set of financials for the business has always been necessar y. But here the focus is not so much on paying back a loan, but a set of financials structured so that the business can grow and show the investor a solid return. 2. Deal Structure. Ever ything is possible. What type of equity will you offer in your company; straight equity, common vs. preferred stock, stock warrants, or any of a number of variations? Having an equity investor is not the same as a having a simple bank loan with repayment terms. 3. Governance. This is just a fancy way of saying you will be managed by your investors and will likewise will need to manage them. There will be periodic investor updates with detailed discussions on performance and future plans. 4. Government Compliance: The government has instituted some rules to insure this new Crowdfunding is properly followed. The onus of adherence to the rules falls on the entrepreneur not the investor. So be aware of new record keeping requirements. Crowdfunding, while significantly increasing your business’s financing options, also makes having the right
management team for your business much more imperative. Your company’s financial health should never be a do-it-yourself project in which you go it alone. Even if your investors are friends, these are not waters you want to go into unprepared.
Dan Gotte is a partner in Fuse Financial Partners, Charlotte-based financial services firm. He has been an instructor in CPCC Small Business center for about seven years presenting on funding, financial and accounting topics.
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12 July 2016
Zippia says two local schools among best small colleges in NC June 28. Zippia, an online career planning resource, has named Cabarrus College of Health Sciences in Concord the No. 1 “Best Small College” in North Carolina. Ten schools made the list, including Davidson College which came in third. Data from the National Center for Education Statistics and College Scorecard data were used in creating the list. Some of the data used included career earnings after six and 10 years; ratio of people working to not working after 10 years; admissions and graduation rates; and average cost of attendance. Zippia said this about Cabarrus: “Cabarrus College graduates earn the secondhighest salaries in the state for all small colleges – even a decade after graduation…cost is the third lowest, too. Meaning you get a big bang for your buck. Zippia said this about Davidson: “This small, private liberal arts college outside of Charlotte isn’t just a great place for hoops. Davidson’s graduation rate of 93 percent is by far the highest in North Carolina, which is certainly something to brag about.”
NEWS - e
New downtown plan puts hotel at north end of Cannon Village
June 17. The Kannapolis City Council has unanimously endorsed the “North Option” for the redevelopment of downtown. It places a sports and entertainment complex in the north section of downtown, a hotel on Main Street, and
a performing arts center on West Street. Residential development will be located in the historic district of the City as well as on the former Plant 4 site. “The plan demonstrates that we can accomplish our goal of revitalizing downtown and create significant new tax revenues for our entire city. Yes, we will need to invest in our city. We must have skin in the game in order to make the revitalization plan a success,” said Kannapolis City Manager Mike Legg. The City Council was presented with two options for the Downtown Master Plan; the “South Option” would have placed the complex at the former Plant 4 location. The North Option calls for 1.7 million square feet of new residential space; 50,000 feet of new retail space; a 70,000 square foot hotel; and a 90,000 square foot office building. The next steps in the Downtown Master Plan process will be public information meetings June 20 and June 29, at Kannapolis City Hall, with both meetings starting at 6 pm. The City Council is expected to approve the Downtown Master Plan in late July. City Council is already accepting proposals from developers for the first project in downtown. Known as the Demonstration Project, the residential/retail development would be located near West C Street. The proposals are due later this month; City Council is expected to choose a developer in July. Kannapolis purchased 50 acres of
Business Today downtown property and buildings last year from billionaire David Murdock, the founder of the North Carolina Research Campus and a former owner of Cannon Mills. As such, he acquired acres of commercial and residential properties. The city has spent about $8.75 million purchasing the Murdock/Cannon properties. The next step is approving the downtown master plan which will guide the decision-making process for projects and investments. “Step by step we have worked to thoroughly understand the property we have purchased, research the market for what we need in our downtown, develop a plan to revitalize the downtown over the next decade and analyze the financial costs for our vision of downtown,” said Kannapolis Mayor Darrell Hinnant. Development Financial Initiative, a non-profit from UNC-Chapel Hill, developed the master plan. The plan outlines a number of significant “big ideas” which research shows are needed and are viable in order for Kannapolis to have a prosperous and vibrant downtown within the next decade. The ideas include: • A sports and entertainment complex and a performing arts center. • A boutique hotel would be used by visitors to the area, conference attendees, the North Carolina Research Campus, sports teams. • Multistory office complex to create more job opportunities in downtown. • Condominiums and apartments woven throughout the entire downtown. • Historic preservation includes saving the most historic block of buildings. • Retail and restaurants in small and large spaces that create entrepreneurship. • A water feature • Plazas with large green spaces. • West Avenue would be reconfigured with a curved tree lined design that creates more outdoor dining and green spaces. • Connectivity and livability, with sidewalks, bicycle lanes and adequate parking. The Downtown Master Plan includes a financial analysis which shows the city and its partners investing in the sports and entertainment complex, the performing arts center, and infrastructure. Private investors would be sought to invest in the office, residential, hotel, and retail/restaurant portions of the plan. The financial analysis suggests that for every dollar the city invests, it would see a return of $3 in private investments.
NEWS - e
Lake Norman leaders gather in Capitol to refute Travis, Woods
June 15. A score of North Mecklenburg elected officials and business leaders made the 2.5 hour drive to the NC Capitol June 15 to collectively voice their opposition to the 50-year, $650 million contract between a Spanish company and the citizens of North Carolina. Their goal was to offset what Cornelius Mayor Chuck Travis and Davidson Mayor John Woods told NC Sen. Philip Berger in Raleigh on Town Hall Day, purportedly as private individuals. What the two mayors did was wrong, said NC Sen. Jeff Tarte, the former mayor of Cornelius who led the press conference. Travis and Woods told Berger, who, as Senate President Pro Tem is the key gate-keeper in the upper chamber, that ordinary folk don’t quite understand the toll plan and that they are in a distinct minority. Among those who stood behind Tarte during the press conference: Huntersville Mayor John Aneralla, Mecklenburg County Commissioner Jim Puckett, NC Sen. David Curtis, racing executive Greg Wallace, Huntersville Commissioners Danny Philips and Dan Boone, Davidson Commissioners Beth Cashion and Brian Jenest, Lake Norman Chamber CEO Bill Russell, Cornelius Mayor Pro Tem Woody Washam, Cornelius Commissioner Dave Gilroy and Payroll Plus owner John Hettwer, who is also a former chairman of the Lake Norman Chamber and the founder of the Lake Norman Executive Board. A rising star in North Carolina politics, NC Rep. John Bradford, also stood behind Tarte—a less-than-subtle show of solidarity from a former Cornelius Town Commissioner who served on the Town Board at the same time as Travis. During a dramatic 15-minute Emergency Meeting June 14, the Cornelius Town Board voted 5-0 on a Resolution of No Confidence in Mayor Travis. The resolution also asked Travis to resign. Travis brought his own forces with him, including former Cornelius Mayor Lynette Rinker, who was soundly defeated by Bradford in the Republican House District 98 primary two years ago. Lending her support to Travis as well was former Huntersville Mayor Jill
Swain, who was defeated by Aneralla 59 percent to 40 percent in November. The press conference was organized in short order Monday, Tarte said. “Just think for a minute: We did this yesterday…these folks who are all working folks took time off to drive two-and-ahalf hours here, about the need to kill this contract.” Tarte called out the NCDOT for mysteriously accelerating plans to sign the 900-page contract with Cintra, and deepsixing an independent audit. When he announced plans to defund the project, “the following Monday they were putting out cones.” “How all this shuffling goes on, I don’t know,” Tarte said, painting a massive bureaucracy hell-bent on consummating a forced marriage with a Spanish bride. “It is a very irrational decision,” he said. “They are no longer talking to the facts, but emotionally, they can’t let go of it.” NC Sen. David Curtis said there is “overwhelming” support for canceling the agreement, despite what Woods and Travis told Berger on Town Hall Day in Raleigh. Critics say both abused their positions as mayors to express personal opinions counter to resolutions approved by their boards. Aneralla said the state has canceled contracts before. He said the state paid $85 million for software that was never used—and $5 million to cancel the contract. NC Transportation Secretar y Nick Tennyson said it could cost $800 million to cancel the Cintra contract, a number Hettwer and Aneralla say appears to have been pulled from thin air. Tarte said he has enough votes to pass HB954 which would cancel the Cintra contract. It passed overwhelmingly in the House of Representatives two weeks ago. The question is getting it “calendared,” which has much to do with what Sen. Berger thinks. Hence the almost stunning reprisals against Woods and Travis in particular at town board meetings last night.
We are pleased to announce that
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Lake Norman Office John Coble, CFP® Financial Advisor 130 Harbour Place Drive, Suite 200 Davidson, NC 28036 email@example.com 704-990-7070 © 2016 Wells Fargo Advisors, LLC, Member SIPC, a registered broker-dealer and a separate non-bank affiliate of Wells Fargo & Company.
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14 July 2016
On T he Record
THIS MONTH REAL ESTATE TRANsACTIONS . . . 14 FORECLOSURES . . . . . . . . . . . . . . . . . 16 NEW CORPORATIONS . . . . . . . . . . . . 17
REAL ESTATE TRANSACTIONS These are recent property transactions over $200,000 as recorded by the county Register of Deeds in Cabarrus, Iredell and Mecklenburg.
Cabarrus County 06/13/16 $344,000 NVR, Inc. to Sedan & Marcel Jacobs, 4155 Green Park Ct., Harrisburg 06/13/16 $408,000 Bonterra Builders, LLC to Peter & Jacqueline Sabo, 474 Iron Horse Ln., Midland 06/14/16 $293,000 NVR, Inc. to David & Ashley Truesdale, 7395 Dover Mill Dr., Concord 06/14/16 $282,000 D.R. Horton, Inc. to Jason & Jana Barnhill, 1405 Overlea Pl., Concord 06/14/16 $273,500 Mark & Sara Davis to Robert & Leah Ledford, 10959 Hat Creek Ln., Davidson 28036 06/14/16 $329,000 M/I Homes of Charlotte, LLC to Aruljeeva Antony & Salethranjani Soosaimuthu, 1376 Sandy Bottom Dr., Concord 06/14/16 $418,000 Carroll & Rhonda Bennett to Andrew & Linda Bauer, 1411 Chalmers Ct., Concord 06/14/15 $337,500 Taylor Morrison of Carolinas, Inc. to Colin & Regina Fambrough, 2588 Radburn Ln., Concord
More Cabarrus Transactions online at www.BusinessTodayNC.com
Mecklenburg County 6/17/16 $300,000 VS Residential Properties Fund to SRP Sub LLC, 16031 Woodcote Dr., Huntersville 6/17/16 $447,000 Christopher & Jody Wikoff to Samantha & Brian Bamgardner, 7632 Garnkirk Dr., Huntersville 6/17/16 $650,000 William McCleave Jr. to Willard & Maureen Leach, Lot 9 Patrick’s Purchase, Cornelius 6/17/16 $255,000 Margaret & Timothy McConnell Jr. to Sharkiya Cummingham, 11231 Skytop Dr., Huntersville 6/17/16 $497,500 Epcon Cornelius to Dennis & Lynda Brophy, 18737 Daymark Dr., Cornelius 6/17/16 $470,000 South Creek Homes to Henry Labudzki & Maureen Biedron, 13110 Hazelbrook Ln., Cornelius 6/17/16 $84,000 Bluestream Partners to South Creek Homes, Lot 146 Bailey’s Glen, Cornelius 6/17/16 $394,000 Chesmar Homes to
Kenneth Howler, 12330 Bradford Park Dr., Davidson
More Mecklenburg Transactions online at www.BusinessTodayNC.com
Mooresville 6/14/16 $362,000 Timothy & Anita Surphlis to Stephen Klika & Debra Karp, 115 Morrison Cove Rd. 28117 6/14/16 $947,000 Robert & Jean Dusek to Robert Beaulieu & Kelly Jo Hart, 541 Big Indian Loop 28117 6/14/16 $288,000 Gregory & Karen Pinner to Anthony & Joan Capobianco, 114 Shoreline Loop 28117 6/14/16 $512,000 John & Henry Triece to Ronald Brannon, 211 Commodore Loop 28117 6/14/16 $286,000 Eastwood Construction to Curtis & Natalie Banner, 253 Elrosa Rd. 28115 6/14/16 $284,000 Blaine & Kelly Goss to Christopher Cox, 356 E. Waterlynn Rd. 28115 6/14/16 $518,000 Meritage Homes of the Carolinas to Amie S. Lewis, 226 South San Agustin Dr. 28117 6/15/16 $1,675,000 Henry & Sandra Hale to Todd & Jodie Pelow, 178 Cape Cod Way 28117 6/15/16 $288,000 William Washburn to Kenneth & Michelle Stissel, 228 Laurel Glen Dr. 28115 6/15/16 $355,500 CalAtlantic Group to Regina & Gary Adams, 135 Alexandria Dr. 28115 6/15/16 $642,000 Kenneth & Carolyn Johnson to James Shoemaker, 167 Castles Gate Dr. 28117 6/15/16 $775,000 Robert & Jackie Gerrard to Andrew & Kimberly Schultz, 154 Lake Pine Rd. 28117 6/16/16 $459,000 True Homes to Brandon & Winter Giroux, 103 Farm Knoll Way 28117 6/16/16 $275,000 Christopher & Sandy Conner to Robert & Karen Archer, 143 Forest Walk Way 28115 6/16/16 $1,700,000 Wallace Office Properties to Weber Screwdriving Systems, 149 Knob Hill Rd. 28117 6/16/16 $251,000 Michael & Leisa France to Kimberly Cameron, 153 Kilborne Rd. 28117 6/16/16 $392,000 Michael & Vicki Slimp to Michael & Leisa France, 106 Cedar Woods Dr. 28117 6/16/16 $265,000 Larry & Jennifer Brawley to Cashe Properties, 112 Pintail Ln. 28117 6/17/16 $275,000 Susan Simko to Christiana Trust, 140 Brook Glen Dr. 28115 6/17/16 $742,000 Jo Ann C. Bell to Francis & Jennifer Langford, 154 Lucent Ln. 28117 6/17/16 $775,000 Scott & Debbie Umberger to Douglas Bour & Tammy VanderZee, 101 Stonewall Beach Ln. 28117 6/17/16 $272,500 Brookfield Relocation to Jonathan & Tanya Ochenas, 203 Laurel Glen Dr. 28115 See TRANSACTIONS, Page 16
16 July 2016
On T he Record
TRANSACTIONS from page 14
SEEING IS BELIEVING
6/17/16 $930,000 Craig & Melinda DuBois to Francis A. Lee, 709 Normandy Rd. 28117 6/17/16 $293,000 Clyde & Deborah Rees to Frank & Dana Falzone, 134 Coronilla Rd. 28117 6/17/16 $335,000 Shift Properties to Kenneth & Mary Street, 140 Crystal Cir. 28117 6/17/16 $290,000 Essex Homes Southeast to Michael & Robin Appleby, 151 Autumn Grove Ln. 28115 6/17/16 $390,000 Samuel & Amy Swindell to Perkins Peabody, 112 Lakeshore Hills Dr. 28117 6/17/16 $525,000 Curtis & Nicole Leininger to Gary & Nancy Lester, 143 Tea Olive Ln. 28117
More Mooresville Transactions online at www.BusinessTodayNC.com
Foreclosure actions have been started on the following properties. Items show the date foreclosure documents became public, owners, property address, lien holder, lien amount. After required notices are published, the property is sent to auction. The property then can be sold, not sold (examples: bankruptcy files or action dismissed without prejudice) or the sale postponed.
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04/26/16 Gregory & Amy Tolbert, 4619 Amberdeen Ct., Concord, PNC Bank, $99,470 04/26/16 Nicole & Ted Scott, 2999 Clover Rd., Concord, Nationstar Mortgage, $177,900 04/28/16 Thomas Stack, 360 Speedway Pl., Concord, Dietch Financial, $106,400 04/28/16 William & Kristen Jones, 886 Anchor Way, Kannapolis, Wells Fargo Bank, $150,850 04/28/16 Horace & Christine Smith, 5634 Fetzer Ave., Concord, TD Bank, $37,125 04/29/16 Rock Hill AME Zion Church, 3620 Rock Hill Church Rd., Concord, New Dominion Bank, $1,425,000 04/29/16 Andrea Ross & Terrence Coleman, 6929 Brandon Chase Ln., Concord, RoundPoint Mortgage, $206,196 04/29/16 Alan & Ashley Gross, 986 Ramsgate Dr., Concord, Wells Fargo Bank, $129,900 05/04/16 Daniel & Carol Webb, 1136 Brigadoon Ct., Concord, NC US Bank, $126,478 05/04/16 Debra Oâ€™Brien, 146 Cedarwood Pl., Concord, SunTrust Bank, $25,000 05/05/16 Christopher Boltwood, 1956 Stonewyck Ave., Kannapolis, The Bank of New York Mellon, $131,240 05/06/16 Gary Burnette, 209 Oakdale Ave., Kannapolis, Fifth Third Mortgage, $102,000
05/06/16 Steven & Susan Monte, 2093 Chapel Creek Rd., Concord, Nationstar Mortgage, $107,801.73 05/06/16 David Kluttz, 8423 Dawson Ln., Locust, JP Morgan Chase Bank, $154,176 05/09/16 Kyle & Lisa Mey, 4234 Wesley Dr., Midland, US Bank, $100,800
More Cabarrus Foreclosures online at www.BusinessTodayNC.com
Mecklenburg County 5/23/16 Nora Green, 2901 Dalecrest Dr., Charlotte 28269, NationalBanc Mortgage $65,000 5/31/16 Aborn & Keesha Taylor, 7033 Tanners Creek Dr., Huntersville, The CTI Group $144,800 6/1/16 Beth & Richard Scrimgeour, 12401 Kane Alexander Dr., Huntersville, Carolina Bank $361,000 6/6/16 Walter Yanes, 9197 Glenashley Dr., Cornelius, Fairway Independent Mortgage $168,614 6/6/16 Jonathan Davis, 18711 Ruffner Dr., 1G, Cornelius, PRLAP $124,132 6/7/16 Wilfredo & Roselyn Perez, 2312 Linda Lou Ct., Charlotte 28213, Flagstar Bank $115,500 6/7/16 Constance R. Stienstra, 989 Tiger Ln., Charlotte 28262, Chase Manhattan Mortgage $148,582 6/7/16 Robert Mason, 14431 Greenpoint Ln., Huntersville, Countrywide Home Loans $229,947 6/9/16 Sadie Givens & Erinn Summers, 3220 Irwin Valley Ct., Charlotte 28269, Universal American Mortgage $111,214 6/9/16 Robert & Joyce Hutchinson, 6243 Donna Dr., Charlotte 28213, Bank of America $125,000 6/9/16 Diane & Clark Howell, 13433 Fremington Rd., Huntersville, Taylor, Bean & Whitaker Mortgage $235,500 6/10/16 Kelly Webb & Marion Spaulding, 2855 Edwin Jones Dr., Charlotte 28269, First American Title Insurance $173,850 6/14/16 Dawn & Wendall Mayfield, 9229 Ligon Ct., Charlotte 28213, Countrywide Home Loans $84,400 6/14/16 David Ramsue, 19537 Smith Cir., Cornelius, AEGIS Mortgage $114,700 6/15/16 Yvonne & Thomas Tucker, 4639 Trilium Fields Dr., Charlotte 28269, Quicken Loans $104,326 6/16/16 Nathaniel & Wanda Johnson, 5720 Falls Ridge Ln., Charlotte 28269, M/I Financial $175,850 6/16/16 Leslie Harris, 3744 Dashiel Dr., Charlotte 28262, Flick Mortgage Investors $105,000 6/17/16 Mark Fickling, 12004 Birdwell Dr., Charlotte 28269, IndyMac Bank $233,000
More Mecklenburg Foreclosures online at www.BusinessTodayNC.com See FORECLOSURES, Page 17
On The Record
FORECLOSURES from page 16
Mooresville 5/23/16 William Wilcox, 286 Glencoe Ln. 28117, Bank of America $205,766 5/23/16 Charles & Sandra Day, 115 Brewster Ct. 28115, WR Starkey Mortgage $175,249 6/2/16 Tracy & Tonia Patten, 176 Harbor Cove Ln. 28117, Quicken Loans $417,000 6/6/16 Thomas & Shelli Zulli, 205 Greenbay Rd. 28117, World Savings Bank $384,000 6/10/16 Henry L. Thomas, 101 Broken Pine Ln. 28117, National Title Network $199,529
More Mooresville Transactions online at www.BusinessTodayNC.com
NEW CORPORATIONS These businesses have registered with the N.C. Secretary of State.
Cabarrus County 6/14/16 Panels Plus Inc., David Frye, 8490 Cloverfield Dr., Kannapolis 6/14/16 Positive Effects Youth Mentoring Organization Inc., Alisha R. Lipscomb, 325 Chestnut Ave., Kannapolis 6/14/16 Red Spade Investigations Inc., Mark A. Lee, 201 Woodland Dr. SW, Concord 6/15/16 Almond Farm LLC, Zachary P. Almond, 5180 U.S. Highway 601, Concord 6/15/16 Jennifer A. Loveland DMD PLLC, Jennifer A. Loveland, 2437 Bensalem Ln., Concord 6/15/16 Queen City Construction Group Inc., Sandra Medel, 1113 Danbrooke Dr., Concord 6/15/16 Robert Lavoy Walker DMD PLLC, Robert Lavoy Walker, 3108 Helmsley Ct., Concord 6/16/16 Brave New Digital LLC, Joel Bullock, 4613 Dunberry Pl., Concord 6/16/16 Connor Pyle Racing LLC, Colleen Pyle, 3947 Cold Springs Rd., Concord 6/16/16 Do It Right Home Repair LLC, Adam Kuffner, 315 Collingswood Dr. NW, Concord 6/16/16 Sole Healing Reflexology LLC, Dana L. Plummer, 2259 Barrowcliffe Dr. NW, Concord 6/16/16 Southern Jersey Trucking LLC, Rosalyn Marshall, 413 Havenbrook Way NW, Concord 6/17/16 CCRFO LLC, Beverly Ptarcinski, 1435 W. Morehead St., Ste. 130, Concord 6/17/16 Center of Knowledge LLC, Sumana Sanjeeva, 9611 Cliveden Ave. NW, Concord 6/17/16 Charlotte Drive LLC, Mohammad Usman Khaleel, 8611 Concord Mills Blvd., Ste. 460, Concord
More Cabarrus New Corporations online at www.BusinessTodayNC.com
Mecklenburg County 6/16/16 Madison’s Investments LLC, Madison Ragley, 18834 Peninsula Cove Ln., Cornelius 6/16/16 Matrix Express LLC, Ronald Kahn, 11619 Allen A. Brown Rd., Charlotte 28269 6/16/16 Peachtree Lanier Group LLC, Gregory F. Fawcett II, 215 South Main St., Davidson 6/16/16 Sowers – CC Holding Company Inc., Greg Sowers, 3746 Waterton Leas Ct., Charlotte 28269 6/16/16 Trinity Green Properties LLC, Rasheeda Green, 3020-I Prosperity Church Rd., #242, Charlotte 28269 6/17/16 77 Watersports LLC, Keegan Higgins, 11438 Heritage Green Dr., Cornelius 6/17/16 Armand Resource Group Inc., Gregory A. Jenifer, 1914 J.N. Pease Pl., Charlotte 28262 6/17/16 Base Metal Jewelry, Elizabeth Stefano, 10308 Glenmeade Rd., Cornelius 6/17/16 CHE Holdings LLC, Saye Zengbean, 1505 Monument Hill Rd., Charlotte 28213 6/17/16 Complete Prospect LLC, Andrew Whittaker, 9930 Willow Leaf Ln., Cornelius 6/17/16 Divas and Shapers LLC, Train McCain, 4729 David Cox Rd., Charlotte 28269 6/17/16 Excellence Without Excuse, Santasha L. Cooper, 10919 Featherbrook Rd., Apt. 1C, Charlotte 28262 6/17/16 Fuller Expediting LLC, Melva Renee Fuller, 6219 Richfield Ln., Charlotte 28269 6/17/16 JCV Investments LLC, James E. Vaughn, 8621 Statesville Rd., Charlotte 28269 6/17/16 Oliver Capital Group LLC, Ricky Oliver Jr., 2601 Century Oaks Ln., Charlotte 28262 6/17/16 WhiteLabel Software LLC, United States Corporation Agents, 426 Fairwoods Dr., Huntersville
More Mecklenburg New Corporations online at www.BusinessTodayNC.com
Mooresville 6/15/16 P1 Properties LLC, Martin N. Gaunt, 235 Raceway Dr. 28117 6/16/16 G & H Properties LLC, Gregory Wayne Osborne, 193 Sparta Dr. 28117 6/16/16 Notch Eight Partners LLC, Rollin Alexander McGhee, 120 Steinbeck Way F 28117 6/16/16 Old Iron Construction LLC, Frank John Ferrovecchio, 179 River Park Rd. 28117 6/16/16 The Plumbing Company of the Carolinas LLC, John Sutton, 219 Chandeleur Dr. 28117 6/17/16 Stephens Engineering & Consulting LLC, Chris A. Adams, 118 Poplar Pointe Dr. 28117
More Mooresville New Corporations online at www.BusinessTodayNC.com
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A thorough, detailed cleaning sets a standard, especially when safe, eco-friendly cleaning products are used.
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18 July 2016
from page 1
tween Cintra and the NCDOT. Blessed by ALEC, it has been blasted by Lake Norman Chamber CEO Bill Russell. “This is not a shining example of P3. This is an example where the public doesn’t want to be a partner. It is a bad marriage, a failed marriage, and it will cost this region and this state,” Russell said, predicting that the 900page contract will be cancelled within a few years. A leading Mecklenburg County Republican, County Commissioner Jim Puckett, said he is “embarrassed that anyone in Raleigh let alone the Republican party who claims to be the party of business tries to make a reasoned argument” for the Cintra project. Cintra, of course, has presented at ALEC conferences. Puckett said the P3 argument doesn’t hold water. “Their argument goes as follows: To solve a $240 million problem—17 miles of congestion—we need to expand to a $650 million road project that is 27 miles, so as to attract a private contractor; we give the contractor $200 million to $300 million in prepayment, infrastructure and backstop funds,
then defend that decision by saying it will only cost us half of the $650 million amount because the private company is going to pay for the other half. This all while ignoring the fact that the company will generate up to $4 billion of revenue over the course of the contract. So to summarize, to save $200 million to 300 million, we invest $200 million plus, give up 27 miles of right of way for which we have already paid for 50 years and allow $3.5 billion to $4 billion to leave the NC economy and go to Spain. And this all seems reasonable to folks who claim Common Core math is problematic,” Puckett said.
It hardly sounds like a savvy business deal for any government. Indeed, Puckett says “the scheme was hatched under Democratic leadership and has been moved forward at breakneck speed by Republican leadership. I don’t care which party is in the majority because it is apparent no one is in control.” For his part, TIllis continues to support ALEC’s goals. “The senator believes ALEC is a think tank that helps spark substantive, non-partisan public policy debates and action, particularly when it comes to cutting the size of government bureaucracy and curbing burdensome regulations” said Keylin. On its website, ALEC promotes itself as a non-partisan public-private “state legislative organization with the goal of promoting Thomas Jefferson’s principles of limited government, free markets, and federalism through sound policy.” In reality, it is something right of center, with a strong record of supporting business interests in state capitols. “I attended one of their meetings once but frankly I just don’t have the time to commit to their busy schedule of conferences and activities,” said NC Sen. Jeff Tarte, a Republican from Cornelius. Tarte nevertheless feels ALEC offers a worthwhile “private-sector, business-oriented” perspective for elected officials. ALEC has been in the headlines around the country due to accusations that it pushes anti-union, anti-consumer legislation designed to benefit its major corporate sponsors. ALEC continues to deny those accusations. In May, demonstrators interrupted an ALEC meeting in Pittsburgh, Pa. Financial support for ALEC comes from some well known conservative strongholds, including billionaire industrialists Charles G. Koch and David H. Koch, well-known for funding a number of conservative and libertarian
political think tanks and their support of Tillis. Some legislators have bailed out of ALEC. Indeed, liberal forces have played hardball with ALEC members, according to reports in the Wall Street Journal. “Frankly I think some who have left ALEC have done so simply because they are tired of getting beaten up all the time,” Tarte said. Criticism has also driven away some sponsors, including Microsoft, Google, Facebook, eBay, BP, and T-Mobile. Nevertheless, the list of those who remain loyal to the ALEC cause remains impressive too, including Reynolds American and Altria, ExxonMobil, Chevron, and possibly Duke Energy. Andy Yates is the founder of Red Dome Group, one of the top political consulting firms in the South. He said he is a fan of ALEC. “They don’t get everything right but I think they are overall a real asset, especially in terms of sharing ideas and solutions. I have a number of clients that have attended and they all feel they benefit greatly,” Yates said. QUOTABLE
“The senator believes ALEC is a think tank that helps spark substantive, nonpartisan public policy debates and action, particularly when it comes to cutting the size of government bureaucracy and curbing burdensome regulations” —Daniel Keylin, Tillis spokseman
July 2016 from page 1
easy alternative to Business 16, which runs closer to the lake and is perforated with driveways and traffic lights. The bypass puts uptown Charlotte and the airport within 30 minutes of anywhere in Denver. Developers have also learned from mistakes made along the lake’s other major roadways. Original considerations for The Village at Sherrills Ford, a 206-acre mixed-use development at N. C. 150 and Slanting Bridge Road currently in the clearing stages, had included a public school. But population projections for southeast Catawba County, coupled with the congestion along 150 caused by school traffic in neighboring Iredell County, steered developer Dale Morrow toward other priorities for the project. Traffic is still a major issue that developers will have to contend with. Several other developments will add to congestion, including Morrow’s 64acre residential project along Campground Road near NC 16 Business. The Simonini Group of Charlotte plans a mixed-use subdivision, Rivercross, on 116 acres near Triangle Road, and Shea Homes is rolling out its Trilogy Lake Norman, a 1,650-home “active lifestyle community” for older adults near East Lincoln High School along Hwy. 73. Lincoln County Commissioner and Denver resident Martin Oakes has expressed concern about traffic congestion. He said developers, not NCDOT, have been responsible for most recent road improvements—and their estimates of traffic conditions in the near future aren’t promising. NCDOT has no projects scheduled in unincorporated Denver until 2021. “There is no town [government] to take on road projects or build sidewalks, but the tradeoff is a tax rate that is about 70 percent of homes in other towns around the lake,” said Scott Knox of Verdict Ridge in Denver. Knox is optimistic about job growth in Lincoln County. “Currently, most residents are commuting out of the county for work. The Lincoln Economic Development Association is doing a great job of driving business to the county,” Knox said. “I am excited for the hotels that will soon come to the west side of the lake, as well as Publix and a few other shopping conveniences.” Residents of Denver’s Westport community are concerned about the environmental impact of continued devel-
“Development is the No. 1 threat to water quality. The issues of stormwater and sedimentation/ erosion are critical... —Ben Benoit, Lincoln County Lakekeeper opment. Residents of the fifty-year old neighborhood, Lake Norman’s first developed subdivision, recently circulated a call to action against new development there planned by Westport Construction Partners. “Development is the No. 1 threat to water quality,” said Ben Benoit, Westport resident and the Catawba Riverkeeper Foundation’s Lincoln County Lakekeeper. “The issues of stormwater and sedimentation/erosion are critical...because they threaten Lake Norman, where we get our drinking water, where we recreate, and where a wide variety of wildlife make their home.” Of course, Lake Norman is the goose that laid the golden egg. But how to protect it is the subject of debate. County commissioners met June 20 to vote on the developer’s proposed changes to its original plan, which would add 30 more “zero-lot-line” homes in the same acreage. Although the planning board had recommended approval of the changes, commissioners voted to table the decision until the developer met with Westport residents to discuss the project’s impact on property values and the environment. “The developer has expressed publicly his awareness of storm water issues,” said Benoit. “However, he has not submitted—and thus far has not been required by the county to submit—a specific, detailed plan for handling post-construction storm water so that the lake is not damaged.” Benoit said many members of the Westport community are doubtful the developer will take measures to protect the lake unless the county requires it. With many developers and planning boards around the lake, the environmental impact can be significant. “It is incumbent on each municipality and governing authority to make wise decisions within their jurisdictions that preserve the quality of our water,” Benoit said.
20 July 2016
Hot Properties It looks like more price appreciation this year, next year Look for above-average home price increases to continue this year and next year. Pat Riley, the president of Allen Tate, says inventory shortages are not going away anytime soon. The historic recession that began in earnest in 2008 decimated the home construction industry with construction workers and contractors disappearing, some never to return. “I don’t see shortages going away anytime soon because builders have a long way to go to get back up to full speed. Also, boomers are dragging their feet when it comes to downsizing,” Riley says. Boomers, some of them still recouping losses from the recession before they retire, are remodeling and staying put. Of course, shortages cause above-average appreciation because of supply and demand. New home construction means year-
over-year price gains of around 4 percent for existing homes are the norm in Charlotte, while Chicago and New York have seen declines of 2 percent and 3 percent, respectively. On the flip side are markets like Portland, Seattle and Denver, where price gains are in the double digits this year over last year, according to the S&P/Case-Shiller national home price index “Once we get inventory realigned, annual price apprecation will fall back into the 3 percent to 4 percent range,” Riley said. Regarding Lake Norman in particular, he said congestion on I-77 is less of a factor when it comes to real estate appreciation than it might be along a different interstate. “I-77 is being addressed and light rail will follow at some point. Lake Norman has always been attractive for those who do not need to work downtown
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and can work at home, or are retired, and need access to a major airport,” he said, explaining that future generations will judge us on how we managed regional planning. For luxury homes the critical Days on Market is improving, reflecting improving inventories. In the super-luxury market, though, it’s still a tough sell. For Lake Norman homes from $1 million and $ 2 million in the Lake Norman area, DOM has dropped from 97 days to 69 days over the past year, a decline of near 29 percent, according to Abigail Jennings, president of Lake Norman Realty. During the past 12 months, the same number of homes closed, 93 for each year, Jennings said. For homes priced $2 million to $3 million, DOM increased more than 48 percent to 172 days compared to 116 days in the prior 12 months. “Closings are down in this range too, with 13 homes closing in the past 12
months, compared to 16 in the prior 12 months,” Jennings said. But for homes over $3 million, DOM fell to 133 days in the past 12 months, vs. 182 days during the preceding 12 months, a 27 percent decline. Closings in super-luxury range went to three in past 12 months compared to four in the prior 12 months.
A 6,600 square foot home at 6813 Highgrove Place in Concord has sold for $857,500 after being listed three months ago for $895,000. The five-bedroom French Provincial home sits on two acres in a gated neighborhood off Trinity Church Road and has a pool.. The house, built in 2000, has a tax value of $769,590. Inside features include a wet bar, billiards room and a workshop. The house is cool: It has four HVAC systems. The listing agent was Monica Besecker with Keller Wil-
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Hot Properties Continued from page 20
liams in Mooresville. Sandra Thomas with Roby Realty brought the buyers to the closing table. º º º A 5,673-square-foot house at 7200 Three Sisters Lane has sold for $927,000 after being listed at $937,900 a week earlier. The house, which sits on 1.6 acres in the Jacob’s Ridge subdivision, has five bedrooms and four baths as well as two half-baths. The first-floor master suite includes marble and multiple shower-heads in the walk-in shower. There is a large screened porch and patio off the living room. The tax value of the home is $884,860. The listing agent was Aaron Davis of Cottingham Chalk. The selling agent was Teresa Hoefl of Berkshire Hathaway.
A 5,500 square foot lakefront home has sold for $1.215 million after being listed at $1.225 million less than two weeks before. The house, which sits on nearly two acres, has a second living quarters on the lake level, complete with a full kitchen. The four bedroom, five bath house has a tax value of $898,000. Maria Jacobs of Lake Norman Realty represented the sellers, while Jacqueline Martinez represented the buyers.
The definitive lake house has sold at the end of Mollypop Lane for $1.4 million, having been listed at $1.49 million by Dixie Dean with Allen Tate. Sited near the top of a point lot, the 2,700-square foot, three-level coastal modern contemporary has 424 feet of waterfront and commanding views of
Lake Norman Realty expanding
Lake Norman Realty’s president, Abigail Jennings, says the real estate company will open a sixth office at 630 Williamson Road in Mooresville. The new office is in a landmark waterfront property, on the eastern side of the bridge over a finger of Lake Norman just west of Exit 33 on I-77.
Allen Tate opening in Statesville
The Allen Tate Co. is opening an office at 117 North Center St. in Statesville, next to the Greater Statesville Chamber of Commerce in the historic downtown.
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the lake. The house, which has a tax value of $1.2 million, was on the market for two months. Dean also represented the buyers.
A house at 18019 Shearer Road in River Run has sold for $745,000 after being on the market for four months. Listed at $760,000 by Lynne Shapiro
of Lake Norman Realty, the house has four bedrooms and four baths in 3,769 square feet of space. Newly built, the house has a kitchenette in the bonus room as well as as a master and guest room on the main floor. Bene’t McSwain-Cash represented the buyers. Tax value is $694,000
Hot Properties Hot Properties is all about the deal. If you’re an agent with a high-end, closed deal, usually $750,000 and above, let us know. Email us at nebiztoday@gmail. com or call 704-895-1335.
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22 July 2016
I-77 contract won’t survive the ‘chorus of discontent’ At the June 22, 2015 board of directors meeting, the Lake Norman Chamber joined the fight against the Cintra contract and the concept of tolling I77 at Lake Norman. I, along with many on the chamber board, admitted our earlier support of accepting tolling or nothing at all was short-sighted and a mistake. Leadership is owning mistakes when you make them, and charting a new course when required. The Cintra contract is a really bad deal, not just for our region, but ultimately for North Carolina. NCDOT is spending $246 million and giving the citizens tolls for 50 years when it can solve the real problem with about $240 million to $250 million, per Bobby Lewis, the former NCDOT chief of staff. This plan spends taxpayer money without solving the real problem, which is congestion relief. No economic impact study was undertaken as part of this project. NCDOT stated they were in the road-building business, not the economic development business, but this has a profound impact on our business development and ultimately it impacts the rest of our state as well. Our Lake Norman region stands to suffer $10 billion to $20 billion in productivity losses as estimated by David
Hartgen, a UNC-Charlotte transportation professor. The first dollar of principal is not repaid until 2033 after paying tolls for 15 years. In addition, while we deeply appreciate foreign investment in the region, sending $4 billion of local toll revenue over 50 years to Spain should make state leaders ask this question: “Is that fiscally responsible when those same dollars could be used here to tackle transportation improvements over the next five decades?” Some officials in Charlotte state the I-77 toll lane project will be a shining example of a P3 (Public Private Partnership) project and an example of how North Carolina will use for other P3 projects in our state. Our Chamber of Commerce disagrees. It will be a shotgun marriage where the public does not want to be a “partner” and this will end in a bitter, ugly divorce costing this state upwards of $750 million to $1.5 billion to get out of this project later—an expensive experiment and embarrassment to our state but a critical hardship to our communities and businesses in the Lake region. A 32,500-acre body of water—Lake Norman—simply limits a P3 Managed Lanes approach to I-77. It has been said this is what we asked
for. Well, no, we didn’t. It was what we were told we could have or nothing at all for 20 years and this plan just does not work. It is bad for our citizens, bad for our communities and bad for commerce. While key elected leaders in Raleigh have refused to be deterred by the thousands of emails, phone calls, and visits, they have not been able to silence critics of the contract. They will not. The citizens, businesses and voters of Lake Norman will continue to fight this assault on our economy and quality of life until the contract with Cintra is terminated. I am reminded of the saying, “In the confrontation between the stream and the rock, the stream always wins; not through strength, but through perseverance.” What started as lonely voices of opposition have become a chorus of discontent. A ripple which began here at Lake Norman is already creating a wave of change across this state. This is a fight we have been told we cannot win, but it is one we dare not lose. Bill Russell President and CEO Lake Norman Chamber of Commerce
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19520 W Catawba Ave Suite 113 | Cornelius, NC 28031 | 704-895-4676 Office | www.CarlyleProperties.com