Business Today - July 2015

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July 2015 Published monthly Business Intelligence for the Golden Crescent: Lake Norman • Cabarrus • University City

NEWS INSIDE Hair apparent

Hair styling and cosmetology is a growth industry

Page 2

Good neighbor Sam

Dave Phillips’ neighbor will run for Concord City Council Page 3

Volume 14, Number 4 $1.50

Humpy Wheeler: Toll plan won’t work Loan failures

By Dave Yochum After nearly three dozen Lake Norman business leaders called on North Carolina legislators in the State Capitol, there’s solid business momentum behind a legislative effort to defund the 50year, $650 million contract with a company whose roots are in Spain.

From the motorsports community to community bankers, companies with hundreds of employees, not to mention brick and mortar, are speaking out.

A BusinessToday/Cornelius Today online readers poll showed 707 people who parWHEELER

keep falling

to slowly steal it away.”

Wheeler is the chairman of The Wheeler Co., a management consulting firm focused on professional sports, particularly motorsports investors. He serves on the board of Belmont Abbey College, the National Motorsports Council and the Governor’s Sports Commission. He is the former president and general manager of Charlotte Motor Speedway.

Lincoln County missed the mo-

By John Rehkop After several years of stagnant growth, the commercial mortgage backed security (CMBS) market continues to pick up steam as a rise in new loan issuance is causing delinquency rates for commercial loans to fall, both locally and nationally, according to commercial real estate research firm Trepp, LLC. In the Charlotte metropolitan area, balance of CMBS loans at least 30 days delinquent dropped to 3.6 percent of total loans outstanding, falling from $215 million in May 2014 to $162 million this past May. Nationally, the 30-day delinquency

See TOLLS Page 14

See LOANS Page 14

ment every year. If they are exempt from scholarships, we lose out.”

For decades colleges have exchanged an education and experience for young athletes’ service on sports teams.

“We in college athletics haven’t done a good job of describing the benefits of college athletics,” said Davidson College Director of Athletics Jim Murphy.

Whether failing to explain the perks of being a part of an athletic department is the

issue, or the time has simply come to pay athletes, local schools now face questions about who ROSE should earn what and how to afford it.

As college sports have grown to rival professional athletics with corporate sponsorships, ticket sales and

Raleigh bound and determined: Mac McAlpine (center right) organized the anti-toll trip

ticipated wanted a “time-out” on the Cintra toll plan, and 63 wanted the plan to go forward. Another online poll asking if readers had faith in the NCDOT resulted in 398 readers saying they did not, while seven said they did have faith.

Humpy Wheeler, the dean of the motorsports community in the Golden Crescent business community, said “with the tremendous concentration of motorsports in the I-77 corridor we must do something, or some other area is going

Good sports: COA’s are another cost for schools

Cabarrus County has a number of new roads Page 6

HOT PROPERTIES

Point Counterpoint

Pages 24-25

17606 Westward Reach in Cornelius for $2.4 million

NCDOT vs. Widen I-77 Page 27

See COA’s Page 15

RECORDS Transactions Cabarrus 16 Mecklenburg 18 Mooresville 19 Foreclosures Cabarrus 19

www.businesstodaync.com

Mecklenburg 20 Mooresville 20 Corporations Cabarrus 20 Mecklenburg 21 Mooresville 22

PRSRT STD US POSTAGE PAID WINSTON-SALEM, NC PERMIT NO. 319

Highways to heaven

face a major challenge as they tackle how to afford new Cost of Attendance Scholarships.

UNC-Charlotte Athletics Director Judy Rose says all athletic scholarship winners, regardless of the profitability of their sport, will receive special COA payments.

“It’s hard to explain to a golfer or soccer player why they don’t get one,” said Rose.

“Doing it in all sports is important. Our men’s golf and soccer programs are in the Top 25 and go to the tourna-

DATED NEWS - POSTMASTER PLEASE DELIVER BY 7/4

Devan Kline’s franchise is hot Page 4

By Dave Friedman The most successful college basketball coach of all time, UCLA’s John Wooden, liked to say “failing to prepare is preparing to fail.” If Wooden were alive today, he’d recognize that modern athletic departments must prepare for a future that involves compensating college athletes beyond paying for their room, board, and tuition. While on the surface it appears college sports are cash cows, the reality is local colleges and universities

Business Today P.O. Box 2062 Cornelius, NC 28031

BT People

Business Today

2 July 2015

Barber, stylist training growing at a good clip 800.315.3655 www.LakeNormanRealty.com

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Payzer, LLC, a Charlotte-based mobile and cloud-based financial technology platform raises $4.2 million growth equity financing from Grotech Ventures and Route 66 Ventures with Scale Finance support T1Visions, LLC, a Charlotte-based provider of large format, multi-user touch screens, acquires Cenique Infotainment Group with Scale Finance part-time CFO and transaction advisory support Travel Resorts of America, Inc, operator of RV membership resorts on the east coast, secures $10.0 million debt financing from First Bank with Scale Finance support Competition Accessories, based in Rock Hill, merges with Cheap Cycle Parts to form an industry-leading ecommerce provider of motorcycle gear, parts, and accessories with Scale Finance support RANDA Solutions, Inc, a leading educational software company, closes $5.0 million in growth capital through Fulton Financial Corporation, with Scale Finance support

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RCCC has opened its cosmetology program in a former Belk store in Kannapolis

The Prestige Barber Institute is moving from Charlotte into 2,000 square feet in Cornelius this month, while the Rowan-Cabarrus Community College has opened its cosmetology program in 28,000 square feet in a former Belk store in downtown Kannapolis. Hair is big and growing. Statista, an online statistics portal used by businesses around the world, says the hair care industry was a $79 billion business worldwide last year, and by 2021 it will be worth $94.5 billion.

RCCC's cosmetology program, one of the largest and most successful in the state, offers associate degrees, diplomas and certificates. Patrick Anderson's Prestige Barber Institute is a smaller, for-profit operation, but it fulfills his dream to be an entrepreneur who helps others.

“I felt there was a need to bring the school this way; I’m hoping I can also capture the people from Mooresville, Statesville and Concord,” said Anderson.

North Carolina law requires that barbers pass an exam and complete an apprenticeship before they earn a certificate.

Tuition at Prestige, which first opened in Charlotte in 2005, runs $6,525. At-

tending full-time, aspiring stylists can complete the 1,528-hour course in a little over 10 months. Barbers and stylists might make $20,000 a year just starting out, but before long it’s possible to bring in $40,000 to $60,000 a year after a few years, Anderson says.

He should know. Anderson, a member of the Barbers International trade association, began cutting hair for friends as a teenager, charging all of 50 cents. Anderson got his N.C. certificate in 1993 and landed his first job at Barringer Drive Barber Shop.

Jobs for barbers, cosmetologists, and other personal appearance workers are growing much faster than the average.

For one thing, the population is growing. For another, Baby Boomers are apparently trying harder than previous generations to hold onto their youth, and that means more highlights and coloring.

Haircuts by Prestige students are $5.

On Wednesdays, you can get a free razor shave.

Anderson’s business goal is to ensure a quality education along with providing “stellar competencies” for success in life. His passion: “To be of service and do good work by using my hands and teaching my trade.”

U.S. Cosmetic Industry

Values

Revenue of the cosmetic industry

$56.63 billion

Gross product of cosmetic industry

$11.97 billion

E-commerce sales of drugs, health and beauty products

$17 million

Employees of cosmetic industry

56,235 Anderson

Business Today

July 2015

Bukowski departs Cabarrus EDC for Charlotte Regional Partnership

By Dave Vieser Margie Bukowski, formerly senior vice president for economic development at the Cabarrus Economic Development Corporation, is the new director of business development services at the Charlotte Regional Partnership.

"Margie did a great job for us and really helped get our economic development efforts back on track," said Cabarrus Chamber CEO Patrick Coughlin.

Bukowski spent two years in Cabarrus, having come from the North Carolina Department of Commerce where she was senior economic Bukowski developer and project manager. The Cabarrus EDC's budget was cut more than $300,000 by a majority on the former Cabarrus County Commission.

She played a part in helping recruit Alevo Inc., an industrial battery maker, to the old Philip Morris plant in Concord. More than 2,500 jobs are expected when manufacturing gets under way

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in the next year. Long-term, the plant could employ as many as 6,000 people.

Bukowski also held a variety of marketing and sales positions for companies such as Sara Lee Branded Apparel, Microban International, and Benchmark Brands.

For the state of North Carolina, she helped recruit Caterpillar, New Belgium Brewery, Facebook, Sheetz Bakery, Disney Data Center and Gordon Food Service.

The Cabarrus EDC has re-tooled Bukowski's old position. The director of business development "will be responsible for developing proactive methods of marketing to and attracting companies in our targeted industry sectors," Coughlin said. A research and marketing assistant position will also be added.

Well-known Cabarrus business leader plans to run for Concord City Council Sam Leder, a former chairman of the Cabarrus Chamber of Commerce, will run for the Concord City Council seat currently held by long-time Councilman Dave Phillips who is not seeking reelection.

"I want to continue to build a city that offers great work opportunities that is also a fantastic place to live for everyone," he said.

Leder, who was chairman of the chamber in 2010, is a partner at Potter & Co. CPAs in Concord and Mooresville.

Sam LEDER

Leder has been a partner at Potter & Co. since 2000; he was on the board of the chamber for seven years. He lives in District 1, and is a neighbor of Phillips. Phillips and fellow Councilman Jim Ramseur have announced they are not seeking reelection this year. Both have served 20 years on the council.

The Concord City Council elections are non-partisan but Leder is registered as an independent. "There are people in each party that can go too far in one direction or the other," he said.

Politics may be in Leder's blood. His father has served on the city council in Whiteville, N.C., for 20 years. Prior to that he served on the school board.

The family owned Leder Brothers department stores before selling out in the 1990s. "I was always gainfully employed in December," Leder said.

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Business Today

4 July 2015

Burn Boot Camp is bulking up with franchise, corporate stores

By Rachel Daniels Burn Boot Camp is flexing its muscle, less than three years after it started in an empty parking lot. Entrepreneur Devan Kline is already up to eight North Carolina locations and 1,700 clients. Twelve more units, franchises and company-owned, will open by 2016 throughout the Southeast and New York.

He’s changing the world one mom at a time. Burn Boot Camp workouts are 45 minutes or less and many locations provide free daycare. Among the five corporate-owned stores, including the original location in Huntersville, BBC’s revenue in its third year was $2.85 million.

The Huntersville-based company has begun franchising at $15,000 a clip.

There are Burn Boot Camp franchises in Concord, Denver and Durham, and corporate stores in Mooresville, Cornelius, Matthews and Mallard Creek.

Revenue averages $570,000 for corporate stores. Equipment runs $50,000 to $100,000.

Kline is a natural when it comes to a sports-related business. He grew up in Battle Creek, Mich. His dad played for the Detroit Tigers, and after attending Central Michigan University, he was signed to the San Francisco Giants minor league system and played for three years.

He lived with a host family, where the mom worked hard to care for everyone including her own family. She was about 45 lbs. overweight. Kline helped her get fit and saw a need to help other women with support and encouragement to get healthy.

“Without my baseball career, I wouldn’t have realized my natural gift for helping people,” Kline said. When he was released from the Giants, he moved back to Florida to be with his wife, Morgan. Always a fitness fanatic, he became a personal trainer. When she was transferred here in 2012, Kline pursued a personal training career.

“At the time I did not know that my Minor League experience would lead

Mike Russell is new COO at MadVapes

me to a passion deeper than baseball.

I didn’t think it was possible to care for something more than the game I loved.

But when I was released from the San Francisco Giants in late 2011, I started a whole new journey to help change the world one mom at a time,” he says.

Kline started the first BBC in a parking lot by getting a group of interested women together for workouts. “We have an amazing community of people who care about their health,” said Kline.

Kline has no debt, and he’s been profitable since opening day. Kline said he consistently plowed money back into BBC to help the business grow.

He’s shooting for 1,000 locations nationwide. Next up is a Burn Boot Camp nutrition line.

His biggest challenge is finding the right people—they must be inspiring and supportive of the clients. “We don’t have successful business without a happy client,” Kline said.

Mike Hartshorne, who opened the Concord franchise, said Kline has the recipe for success. “It’s contagious as far as the business goes,” Hartshorne said. “We feed off of each other.” Locations are between 4,000 and 6,000 square feet. Each location has between three and six employees.

Billy Haynes is opening the Denver franchise soon. “We wouldn’t wake up at 4 o’clock in the morning if we didn’t have the drive to change people’s lives.”

Stores to open by 2016 NORTH CAROLINA Active Units: Mooresville, Cornelius, Huntersville, Matthews, Mallard Creek (Corporate Owned) Concord, Durham, Denver (Franchise) Signed Unopened Units: Ballantyne, Elizabeth, Raleigh x 2, Lake Wiley, Harrisburg SOUTH CAROLINA Signed Unopened Units: Greenville FLORIDA Signed Unopened Units: Naples (2) TENNESSEE Signed unopened units: Nashville (2) NEW YORK Signed unopened units: New York City, West Chester County All 20 of these units are open or scheduled to open in or before January 2016

Mike Russell, the chairman of the Lake Norman Chamber of Commerce, has left Energy United and is now chief operating officer of MadVapes, a $40 million-plus Russell company that was started in Huntersville in 2009.

MadVape’s electronic cigarettes help people stop smoking.

The fast-growing company is smoking hot, with major expansion plans in the works. It essentially sells liquid nicotine online and from more than two dozen retail stores.

E-cigarettes have gained widespread popularity, growing into a $2 billion industry with millions of users.

Russell became chamber chair in January, and will BRYAN turn over the reins to the chamber this coming year to Callan Bryan, an attorney from Davidson.

Aquesta names city executive for Concord Aquesta Bank has recruited commercial banker Michelle Riley from Bank of North Carolina to be the Concord City Executive for the Corneliusriley based bank.

“It’s a very attractive market; there are quite a few businesses that are looking to expand there,” said Aquesta CEO Jim Engel. “This [a commercial loan production effort] is a very practical opportunity.”

Although Riley will work out of her home, this could be a step toward opening a branch in Cabarrus “in the next couple of years,” Engel said.

Riley, a 2013 graduate of the NC School of Banking, has been active in Cabarrus community service, including Boys and Girls Club of Cabarrus County, Concord Rotary and the United Way Campaign Cabinet.

Business Today

6 July 2015

Cabarrus County

Transportation improvements on the road to Cabarrus County

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6/16/15 2:51 PM

By Dave Vieser While state and local officials continue to debate the wisdom of constructing toll lanes on I-77, there's a clear road ahead for widening I-85 in Cabarrus County.

The $243 million needed for the project is being funded the old fashioned way—by the state.

The interstate widening is actually just one of several major transportation improvements slated for Cabarrus County during the next 10 years. All told, there are over two dozen projects within the county on the state's Transportation Improvement Program (STIP), which prioritizes construction funding and scheduling of transportation projects statewide.

Topping the list is the widening of a 13.6-mile stretch of Interstate 85 from Exit 55 (Highway 73) northeast to Exit 68, at the route 601/29 connector road in Rowan County. "The section from NC 73 in Cabarrus County to Lane Street is currently under construction," said DOT spokeswoman Jordan Ashley Baker "and it should be completed in late 2017." The total project cost for both the Cabarrus and Rowan County portions amounts to $433 million.

Baker said that the section from Lane Street to Exit 68, which includes only about a mile in Cabarrus County, will be done later and doesn't have a firm completion date at this time. When completed, I-85 will be an eight-lane highway throughout Cabarrus County, matching the width south of the construction area.

NC Highway 3: Construction of a

$33.5 million widening plan in Kannapolis is slated to begin in 2017, and will be completed within 30 months. The property needed to accommodate the wider road is already beginning to be acquired by the state.

The proposed improvements will widen 2.5 miles of North Carolina Highway 3, also known as Mooresville Road, between Kannapolis Parkway and Loop Road North (adjacent to the North Carolina Research Campus) to a four-lane superstreet with sidewalks and bike paths on both sides. Currently Highway 3 in that area is a two-lane road, prone to frequent congestion. “This widening will provide us with connectivity between the expanding businesses and residential areas on Kannapolis Parkway and the North Carolina Research Campus/ DownLEGG town District," said Kannapolis City Manager Mike Legg. "These two economic development drivers of our economy are growing and naturally need to be better connected."

Derita Road: Property acquisition is also under way to facilitate the widening of a 2.6 mile portion of Derita Road from Concord Mills Boulevard to Poplar Tent Road. This thoroughfare carries a heavy volume of traffic to and from the Concord Mills and Speedway area, as well as nearby Concord Regional Airport and its' Continued on Page 7

Business Today

July 2015

Cabarrus County

City of Kannapolis establishes in-house planning department

By Dave Yochum The City of Kannapolis has a brand new planning department, a reflection of the growth that is expected ahead.

Benchmark Planning, an outside consulting firm, had conducted the town's planning business, including code enforcement, since the 1980s, according to Kannapolis spokesperson Annette Privette Keller.

The new in-house municipal department will cost about the same per year—roughly $750,000—as the old Benchmark relationship. But with the population expected to jump from about 44,000 right now to 50,000 in five years, along with a bustling economy and the rebirth of downtown Kannapolis, it made sense to have a full-time, inhouse planning department, said Mike Legg, city manager.

There were roughly 400 new building permits last year, and that number is expected to climb. "Part of the equation is rebounding growth," Legg said.

"We get more value [in-house] because we were paying essentially for parts of people. We weren't getting 100 percent of one person, we were getting parts of different people," he explained.

The city government is moving into a new 100,000 square foot municipal building this fall. It will encompass the police department, all government offices, City Council chambers and a

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centralized customer service center.

Included in the design is unfinished space for short-term economic development activities. There is also 5,500 square feet of public meeting and conference space, "It was the right time for a transition," Legg said.

The Planning Department is responsible for the review of all residential and nonresidential development activity in the city. It also provides staff support to the Planning and Zoning Commission and the Board of Adjustment and other city departments. In addition, the Planning Department will enforce the City’s Unified Development Ordinance and oversee the minimum housing ordinances, junk vehicles, community appearance standards and other code enforcement ordinances.

The planning director is Zachary Gordon. Also on board are a senior planner, a planning technician and two code enforcement officers.

from page 6

expanding business campus.

"The widening of Derita Road will open up key industrial property near the airport, and also improve access to the I-485 loop" said Patrick Coughlin, CEO of the Cabarrus County Chamber of Commerce.

Other projects in Cabarrus County scheduled to begin later in the STIP ten year cycle, which runs through the year 2025, include: • Widening of Highway 73 from US 29 to Poplar Tent Road.

• Widening of George Liles Parkway from Highway 49 to south of I-85 in Concord.

• Improvements to the intersection of Dale Earnhardt Blvd and Cannon Blvd in

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Kannapolis.

Also on-going during the next 10 years will be the replacement of a number of bridges on state maintained roads, installation of sidewalks at various locations in Concord and Kannapolis, additional left turn lanes at selected locations, and the construction of the Irish Buffalo Creek Greenway in Kannapolis. Some of the funding for the sidewalks and greenway will be provided by the local municipalities, as well as the state.

"Its' clear that the state and federal government as well as our local governments, are investing heavily in Cabarrus County's transportation infrastructure," Coughlin said.

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Business Today

8 July 2015

Small Business Toolbox Is fearful thinking impacting your business?

Part II of II

achiever and are determined to accomplish whatever you set out to do. As a result, you have been exposed to many Last month, I shared insights on people, some of whom were viewed as successful, but not of the character or how Wishful Thinking level of integrity that you can stagnate business believe is important to posprogress. While Wishful sess. This concerns you to Thinking is often openly the point that you fear sucexpressed in a somewhat cess would change you in exasperated state of mind, a way that you don’t want Fearful Thinking is often to be. The key here is to not shared or spoken, but define success on your lies within one's subconown terms, and no one scious, impeding decision else's. Only then can you making or effective action ride your own wave of sucthrough an undermining cess that is gratifying and whisper. fulfilling.

Are any of these FearFear of Failure: You ful Thinking mindsets imare driven by an underlypacting your business?

SHERRE DeMAO ing need to prove you are Fear of Losing Conworthy and capable. You trol: If you or someone within your company have been accused are your own worst critic to the point of micromanaging or are compelled to of not being able to truly see and apknow every little nuance of what anyone preciate what you have overcome, but is doing, fear of losing control is most rather focus instead on what you view as likely at play. While believing your way failed attempts or results. Failure is an is the best way combined with a desire illusion. While the result may not have for everyone to be effective seems rea- been what was desired, it is still a result, sonable, feeling a necessity to control helping you see what did not work so every aspect adds a layer of stress along you can learn, shift and seek what can with implying a lack of confidence in work. Any set back is merely a set up for those hired to do their jobs. Instead your ultimate success.

Fear of Being Ordinary: You are a of feeling a need to be in control, allow everyone within your firm to take daredevil who enjoys being stimulated charge of their areas. You just might be with a variety of interests, constant activsurprised by the progress that is made ity and many irons in the fire. You have many ideas and inspirations that excite once this is respected and nurtured.

Fear of Letting Go: Different than you, but they also can distract you to a need to be in control, a fear of letting the point that nothing seems to move go is a combination of having high ex- forward as you continuously bounce pectations and standards along with a from one thing to another. Your desire hesitancy to venture beyond what you to be exceptional could be an underlycurrently know or have been doing. ing fear of not wanting to be viewed as This is reflected in continuing to take on ordinary. Release this fear by becoming responsibilities or handling tasks that a maverick at turning your inspirations could and should be handled by some- and ideas into tangible assets through one else. You fool yourself into believing bringing on board the right taskmasters that your handling it is your best option, to bring them into reality.

Understand that fear is merely a maneven when it isn't something you really enjoy doing in the first place. Letting go ifestation in your way of thinking that of anything that is not where your heart, can easily be replaced by the reality of passions and competency lie will enable what you are truly capable of doing and your business to flourish through oth- being. ers more qualified to handle these tasks and responsibilities in the first place.

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Business Today

July 2015

Small Business Toolbox

Drive sales with performance tools Performance measurement systems are supposed to be a helpful, powerful, insightful management tool for building a strong sales team. And they can be, if the system is used as intended-using meaningful data judiciously to distinguish differing levels of effort, skill, and outcomes. But if underused or misused it can demotivate your sales force.

Remove rote operational use. A performance system applied with an attitude of bureaucratic necessity will get stagnant results. If your company has used the same system for decades, chances are managers’ use of it over time may have drifted away from its original function.

Use the right tool for the job. Are you training an inexperienced force? Do your seasoned sales professionals need to be energized? Do you need stronger collaboration between sales and other departments? Do you need to focus on: stronger customer service relationships, repeat sales, or new customers? Each performance system is designed with a specific set of objectives. Find one that fits what you want to achieve.

Train managers. Throwing an important, valuable tool at someone without instructions, insight, or support will result in it being used many different ways, eliminating its ability to support the desired goals. Precise training, identifying the desired outcomes for the company, and defining how you will evaluate them as they use the tool effectively, will allow managers to lead a strategic initiative in sync.

Train those being measured. Drawing a transparent, strong link between expectations, outcomes, and rewards allows sales staff being evaluated a clearer understanding of how they can manage themselves to reach the company’s goals, and their personal advancement.

Use the tool correctly. No effective performance evaluation tool was designed to be used once a year.

The key criteria for measuring performance and outcome objectives should be embedded in every day organizational functions: new employee orientation, formal and informal employee sessions, meeting agendas, problem solving conversations, strategic planning processes,

in office signage, and organizational communications. It should be fluent in everyday lingo.

Timely feedback on interim performance levels should be as predictable, accurate, helpful, and informative to employees as the traffic lights in your community. It trains everyone to depend on it, learn from it, react appropriately to it, and be better able to move progressively in the intended direction.

Sellers Market CHERYL KANE

Distinguish between performers.

Be objectively brave-let your star sales professionals shine. Part of the reason some companies continue to use weak performance management tools or to eschew performance evaluation processes entirely, is it takes a lot of effort to find the right tool, know what you want it to do and then get everyone to use it properly. Teaching managers how to give effective feedback regularly so everyone knows how they are performing, and brave enough to lead by way of objectively evaluating employees who may be very different in their performance is a challenging but ultimately profitable component to sales management.

Reward Excellence Differently.

There is nothing ordinary about extraordinary performance. And a particular person may frequently perform at an extraordinary level. “Sharing” subjective top performer awards in a rotating fashion when it is not clearly relevant is transparently placating. When excellence is apparent reward it well. If no one is at a

level of excellence wait until someone is.

Reward exemplary managers, too.

Those managers who help bring out the best in sales staff deserve recognition, too.

Performance evaluation tools identify, measure, and reward or tweak the activities and outcomes of a single employee, while creating data confirming direction or identifying need for redirection of the general workforce from a strategic level.

Using the right tool to define, then identify and reward excellence in sales performance can propel your company’s sales growth like rocket fuel.

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) 795-5058 or through her web site, www.cherylkane.net.

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10 July 2015

NCDOT: No economic impact study on I-77 toll plan June 16. Like most NCDOT highway projects, it turns out the state did not conduct an economic impact study on the $650 million plan to widen I-77 between Lake Norman and Charlotte with the help of a public-private partnership.

Addressing 75 business people and residents at the Business Today and Cornelius Today Newsmakers Breakfast June 16 at The Peninsula Club, NCDOT’s Division 10 Outreach and Community Affairs director Warren Cooksey said, generally speaking, the state will not undertake economic impact studies for big highway projects.

The General Assembly, however, did mandate an economic assessment of ways to improve I-95 a couple of years ago, which was apparently “the one economic assessment of a highway project in North Carolina that I know to exist.”

Over the course of the 50-year contract with a company rooted in Spain, the toll plan is expected to cost on the order of $13 billion. Costs vs. benefits have not been examined in a thorough, long-term way, said John R. “Mac” McAlpine, a motorsports engineer who organized the I-77 “Emergency Call to Action” held at

NCDOT’s Warren Cooksey

NEWS - e

John “Mac” McAlpine at Newsmakers Breakfast

Michael Waltrip Raceworld in late May. Commuters can choose between special toll lanes for speedier trips into Charlotte—which presumably helps the flow of commerce—but large trucks will not

be allowed to use them.

McAlpine, who holds undergraduate and masters degrees from Clemson University, collected information already published by the NCDOT as well as information from academia. He said the I-77 managed lanes would develop into a “perfect storm for extremely high tolls.”

Mecklenburg County Commissioner Jim Puckett also spoke at the breakfast. He said the county board is likely to pass a resolution tonight seeking to defund the Cintra contract, similar to the one already passed by the Town of Cornelius, but stronger than the ones passed by the town boards in Davidson and Huntersville.

McAlpine and Puckett organized a bus-in to Raleigh for business owners to express their displeasure with the toll plan.

“The only way the Raleigh folks are going to listen is to make this into a political argument, showing that their reelection hinges on killing this deal. The business community is best structured

Visit www.businesstodaync.com for daily news updates

Business Today

to make that argument,” Puckett said.

McAlpine and Puckett urged business owners to “get involved and stay involved.”

That the issue got away from the local business community was not surprising, in light of the brutal economic decline that began in 2008, said John Hettwer, a former Chamber of Commerce chairman and the owner of Cornelius-based Payroll Plus.

Cooksey explained that there were a number of public meetings during which the public private partnership and the concept of toll lanes were outlined.

Gov. Pat McCrory’s proposed $3 billion NC Connect bond package—it would fund plenty of new highways but not I-77 widening—seems to have rubbed salt in the wound in Lake Norman. Sen. Jeff Tarte has stated that he will work to defund the Cintra contract—with the moral support of the business community.

Both McAlpine and Puckett took exception to recent statements by McCrory and NCDOT indicating that it was too late to cancel the deal. MacAlpine said there is a specific termination clause in the contract which could be enacted by either I-77 Mobility Partners or the state.

McAlpine said he would like to see bus loads of business people and their supporters go to Raleigh and confront state representatives and the Governor with petitions opposing the project.

McAlpine said the toll lanes will not alleviate congestion to the extent to which they’ve been billed. “With the manner in which the access and exit lanes are set up, I envision that over 95 percent of the motorists traveling from Huntersville to Davidson, for example, will be unable to even consider using the new lanes.” He feels this will apply further pressure for I-77 Mobility Partners to apply higher toll rates.

There are penalties in the 900-page contract if there are new roads within the corridor that would compete with the toll lanes.

“The motive for privately owned traffic lanes is to make a profit, unlike general purpose lanes where the primary goal is to move people” McAlpine said. “In its current form, this project has profit written all over it.”

McAlpine has started a petition against the project, which may be accessed online at www.I77BusinessPlan.com.

Business Today

Continued from page 10

July 2015

NEWS - e

Kannapolis signs final purchase agreements for downtown real estate

June 28. Kannapolis City Council members have finalized the purchase agreements for properties located in the downtown area, including property controlled by David Murdock. The City has purchased land and buildings for $7,550,000 from Castle & Cooke and Atlantic American Properties Inc. The City is also purchasing K-Town Furniture from the Uwharrie Bank for $875,000 and a house located at 206 S. Main Street house for $325,000. The closing period will end in September and at that time the City will take ownership of all the properties. The legal process began in March when the City signed the initial offer to purchase the properties in a ceremony held at City Hall.

The purchase includes properties located on Oak Avenue, West Avenue, S. Main Street and West First Street, including the former Cannon Village, the Gem Theatre, the current Kannapolis City Hall offices, Wells Fargo Bank, the current Kannapolis Police Department and the former Plant 4 site.

“Just like buying a personal home we submitted an initial purchase offer which allowed us time to officially analyze the assets we are buying, which properties to purchase, determine what renovations may be needed, how best to plan for the revitalized uses of the property, and negotiate the best price we could for the properties,” commented Mayor Darrell Hinnant. “It has been a long process but well worth the wait. We all know how much time it takes to buy one house. We have in es-

sence bought many houses and it took time to complete the purchase.”

“We will now move forward full speed ahead with the strategic plan for revitalizing the downtown. A market and site analysis as well as Phase II of the baseball study are the next steps in our process. We look forward to having public presentations on these phases,” said Hinnant.

During the inspection and evaluation phases it was determined that the downtown properties the City decided to buy were worth more than previously estimated. The properties have a total tax value of approximately $25 million. The final purchase price is $8,750,000, or $2 million above what the city originally expected to pay.

“While this is a significant investment for Kannapolis, City Council has concluded this is an opportunity we must make to ensure the long term economic vitality of our downtown core and entire city. We believe our strategic plan for revitalization will pay huge dividends for the entire city’s economic future,” Hinnant explained.

The City will pay for the purchase with bonds. The bonds will be paid back with a 3 cent property tax increase which is part of the 2015-2016 fiscal budget and the sale of the properties to developers. “The City does not want to be in the property management business any longer than we need to.

The goal is to develop a good strategic plan and find private sector investors to sell or partner with,” city manager Mike Legg said.

11

Business Today

12 July 2015

Continued from page 11

NEWS - e

Cornelius Drafthouse opens in Jetton Village

Casey Ashlock

June 30. Another new beer place has opened in Cornelius. The Cornelius Drafthouse and Bottle Shop opened Saturday in Jetton Village, across from the gazebo.

Owners Wes Lucas, a Cornelius resident, and Casey Ashlock, from Huntersville, opened the business in 1,300 square feet of space, doing much of the

finish work themselves. They both are servers at Eez Fusion in Birkdale Village.

The plan is to have every one of North Carolina’s roughly 200 beers represented.

“This is the right time and the right place,” said Lucas. “I love people and I love beer.”

Papaya Papers folded into Note + Nest June 30. Papaya Papers has a new name, a new owner and a larger location in Jetton Village.

Co-owner Tracie Stier-Johnson, of Cornelius, has purchased the business, a mainstay in Cornelius since 1998, from Wendy Presley, a long-time star in the Mary Kay cosmetic constellation, and renamed it Note + Nest.

Stier-Johnson says she will focus on her budding e-commerce business, more customization, and stocking North Carolina products and brands.

“This name change and rebranding celebrates my full ownership,” StierJohnson said. “And, I have been so encouraged by the way people have embraced it. My initial hope was to expand our demographics here. So far, it’s been really exciting to see that.” She has experience in the paper and printing busi-

ness. Stier-Johnson owned Broadway Papers in Milwaukee for nine years.

Stier-Johnson worked with Seattlebased Aeolidia Marketing on the company’s new name, logo, e-commerce website and overall redesign. She acquired an interest in the once-tiny store about a year ago.

She’s expanded, too, growing her retail footprint from 1,800 square feet to 3,500. The additional square footage includes a custom print area for shower and bridal invitations.

CommunityOne completes Certus acquisition in Lenoir June 28. CommunityOne Bank has completed its purchase of the Lenoir Branch of CertusBank. As part of this transaction, the bank assumed the customer deposits from both the Lenoir and Granite Falls branches of the troubled bank. The purchase expands CommunityOne’s network to 12 branches in the Caldwell and Catawba areas. It

is the second largest community bank there.

“We welcome our new customers and employees of CertusBank,” said Bob Reid, President and CEO of CommunityOne. “This acquisition is a natural fit for our company, as we continue to look for opportunities to expand our footprint in key markets.

salutes Jeff Gordon and Big Day at the Lake It’s been quite a string of success for both

Big Day at the Lake ®

www.bigdayatthelake.com

11

Business Today

14 July 2015

TOLLS

from page 1

torsports boom completely but it is now in a position with new four-lane highways—321 and 16—to “take tremendous advantage in getting teams to move.”

“Unless something is done to relieve this horrible congestion we stand to eventually lose the motorsports industry,” Wheeler explained. But he is no fan of the Cintra deal.

“Stop the current agreement no matter what it takes,” Wheeler said. Canceling the Cintra contract is estimated to be a $100 million proposition, but the business community, according to people like Mike Russell, chairman of the Lake Norman Chamber, is starting Russell to agree that it’s the right thing to do. Data suggests that $13 billion will be extracted from the local economy from tolls over the course of the five-decade plan.

The correct course of action right now, Wheeler said, is to cancel the Cintra agreement, negotiate a settlement and find the money to improve I-77 through bonds or developer fees.

Wheeler said adding just one toll lane that doesn’t allow trucks is a mistake. Four lanes

in each direction are needed now, Wheeler said, not just three.

“However, whether it is a toll or not, one extra lane is simply not going to make it work. With the tremendous influx of new residents coming we actually need at least four lanes on each side. Three will not handle the traffic when the next boom hits,” Wheeler said. “So, in essence whether it is a toll or free lane it won’t get the job done so if any agreement states we can’t add an extra lane, then we are blowing in the wind.”

The region should not “get caught without the ability to add a fourth lane when this area explodes again and 20,000 new housing units are added,” he said.

He also recommended imposing a development that goes to highway improvements on a per house basis. In addition, he recommended pressing Huntersville, Davidson and Cornelius “to cooperate in sensible zoning that creates better traffic flow.”

“We must understand that without the ability to move traffic the quality of life goes way down and makes an area eventually hostile to economic development…we risk large property tax increases,” Wheeler said.

Mecklenburg County Commissioner Jim Puckett, who joined the business leaders’ trip to Raleigh, said the toll plan as currently

devised will damage the economy at exits 23, 25, 28 and 30, “so 30 or 40 years of land use and zoning and planning is completely useless.” Express lane or toll traffic won’t have easy access to those exits, he Puckett explained.

Exit 28 at Catawba Avenue has been called the “Main Street” of Lake Norman by members of the Lake Norman Chamber,

which has come out against the toll plan.

Huntersville Presbyterian Medical Center is located at Exit 23.

Champion Tire & Wheel is located in between the two exits. “It is critical that we can get to race shops in a timely, easy manner as well. Not seeing that with the toll-lane project. We have a sense that the toll lane hurdle is going to impede our ability to conduct business,” said Kevin Mahl, co-owner of Champion. It operates a fleet of more than 30 tractor-trailers.

The legal battle

WidenI77 will hold a fund-raising events in July. The first is at Victory Lane (victorylanekarting.com) in North Charlotte on July 10 from 11 a.m. until midnight. A portion of the proceeds will be donated to help WidenI77.

On July 16 at the Galway Hooker there will be a combination silent auction fundraiser and update on the Raleigh business trip and Business Plan initiative. The legal case to stop the toll lanes will also be discussed.

WidenI77 is also collecting statements on how the toll lanes will impact businesses.

For more information, contact Vince Winegardner at vwinegardner@bellsouth.net.

The WidenI-77 hearing date is being negotiated but is expected to occur in August.

LOANS

from page 1

rate stands at 5.4 percent, according to the Trepp report.

Back in 2011 the Charlotte delinquency rate was nearing 9.5 percent.

“There has been steady momentum and growth the last couple years,” says Aquesta Bank President and CEO Jim Engel, noting the 30 percent rise in Aquesta’s total loan portfolio last year.

“And it has been across the board (in terms of property types).”

Trepp tracks and reports only on loans that are packaged and sold as commercial mortgage backed securities, a fixedincome investment product that uses commercial real estate loans as collateral. Trepp estimates that CMBS loans account for roughly 60 to 70 percent of all commercial loans.

Because they are backed by commercial mortgages with unique underlying assets, as opposed to residential real estate, they tend to be more complex and volatile.

“We are seeing a rebirth in the CMBS market,” said Trepp Research Analyst Sean Barrie. “We are expecting a $100 billion in new CMBS loan issuance this year. The Charlotte data is in lock step with what we’re seeing across the country.”

The delinquency rate decline over the past 12 months can be linked to several factors, according to Barrie. Chief among them is the influx of new money into the market.

According to the report, approximately $1.8 billion in new CMBS loans were secured in the Charlotte metropolitan area in 2014 and 2015 combined. The Business Today market totaled $267 million in new issuance over the same time period.

Trepp reported that of the five major property types, lodging had the steepest drop in delinquencies nationally in May, to a rate of only 3.8 percent. Multifamily remains the worst-performing property sector, with a delinquency rate of 8.6 percent.

The six loans in the Business Today area that are the most distressed, or at least 90 days delinquent, consist of three hotels and three retail centers, according to Trepp’s report.

The peak in local delinquencies was May 2011, when the rate stood at an eyepopping 9.5 percent. That spike can be attributed largely to the pre-recession exuberance in commercial real estate market, and the number of 5-year loans issued in 2006. The rebound of the CMBS market is another signal of investors’ increased appetite for risk and that the effects of the Great Recession have faded.

In addition to benefiting from the rise in recent commercial activity, the commercial mortgage market has also witnessed an increase in property values and flushing of old distressed loans through the system.

Business Today

COA’s

July 2015

15

from page 1

television ratings, pressure to allocate some of the proceeds to the players on the field has grown. While small stipends for student athletes were discussed several years ago, lawsuits, and growing stories of student athletes unable to pay for transportation and small discretionary things like late night snacks, haircuts, or a night out have led to Cost of Attendance Scholarships (COAs) that will begin in 2015-2016.

The NCAA, the governing body for college sports, indicated in an antitrust lawsuit headed by former UCLA basketball star Ed O’Bannon that the average difference between the value of an athletic scholarship and the true cost of attendance is about $2,500 a year.

While every student’s true cost is different because of factors ranging from how expensive it is to travel from home to campus, cost of books, and personal expenses, depending on what school athletes attend, what sport they play, and individual circumstances, they could earn up to $6,000 a year. There is a federal formula that determines the exact amount each school will dole out to student athletes.

The great misnomer about college sports it that they make money. Bigtime college football programs and some marque basketball teams are profitable. Virtually every other sport loses cash. USA Today’s analysis of 230 public schools playing Division 1 sports found that only 24 reached the NCAA benchmark for self-sufficiency in 2013-2014. No schools analyzed outside of the five largest conferences generated equal or greater revenue, not counting student fees, university funding, or direct government support, than their total operating expenses.

UNC Charlotte, which recently started a football program, reported athletics expenses of just over $28 million. Their revenues of nearly $29.5 million were made up primarily by fees assessed to students, with ticket sales accounting for under $2 million, and media rights and licensing nearly $2.5 million. The school subsidized over $5 million worth of expenses while donors chipped in more than $4 million. The 49ers face a larger bill moving forward.

Charlotte will be awarding COA checks equal to $1,000 per athletic scholarship in 2015-2016 with the number likely to rise to around $2,300 the following year, according to UNCC’s Rose.

Niner coaches will have some leeway on how they want to allocate money within their programs particularly in equivalency sports, those that do not restrict the number of athletes who can be on scholarship but have a set number of scholarships to divide up among the roster.

Because the NCAA allows up to 85 scholarships for D1 football (and 63 for FCS level competition), in order to satisfy Title IX requirements, Charlotte has to offer COA checks to the vast majority of their female athletes.

At that point, it is easy to understand why they opted to offer cost of attendance scholarships in all sports. Charlotte has about 350 athletes.

While treating all students the same makes sense in principle, it is expensive. Rose believes good planning and the way Charlotte has strategically positioned themselves will make economic sense.

“We probably can’t ask for a student fee increase,” said Rose. “We’re very grateful to have been invited to be a member of Conference USA with their media money. The conference is kicking in some money from the reserve fund to help out over a three-year period. We were proactive when joining the conference to put some money aside and earmark it. We’ll continue to budget for it and are hopeful revenue from the conference will continue to be strong.”

Things are different at Davidson.

The private school imposes no student athletic fees on students, and much of its funding comes from generous donors. The athletic department has also benefited from success in the NCAA Tournament. Each win in the basketball bracket earns the school’s conference extra revenue for a six-year period. The money is then re-allocated to league schools, usually weighted based on what team has experienced success. Davidson’s football program does not offer scholarships, and that too saves the school a lot of money both in operations, and cost of attendance scholarships that they won’t have to award.

Davidson recently concluded its first year in the basketball-crazed Atlantic 10 Conference after a more than 50-year run in the lower profile Southern Conference. As a league Murphy the A10 is requiring schools to offer cost of attendance scholarships in men’s and women’s basketball while individual schools make decisions on other sports. The SoCon has not established a policy on COA. Davidson will be awarding $1,800 in cost of attendance scholarships to basketball players only.

“It won’t really impact us on a day in day out manner,” said Murphy. “If we had 63 scholarships, then I’d be concerned financially. It’s relatively manageable.”

While Charlotte points to their new conference as a way to directly earn money through media rights, Davidson enjoys some of the same benefits, plus the opportunity to build their name in other parts of the country.

“The A10 is more expensive, but we get more out of it,” said Murphy. “We earn more money, and get more exposure. One of the college’s stated goals is the ‘enhancement of the brand.’

With so many games in the northeast corridor, we’re in local papers and media and on TV. It spreads the name Davidson College.”

Murphy thinks that in the long run a stipend, where every school is awarding the same amount to student athletes, is possible and a more equitable system. While Murphy acknowledges that Davidson’s athletic department budget is “substantially funded” by the college, he has concerns over the way college sports are shifting.

“Cost of attendance is a good idea, but there are lots of hurdles,” said Murphy.

“It’s easy to say we’ll take care of this, but it can produce a financial burden.

I’d hate to see some sports trimmed to cover cost of attendance to other athletes. We have gone by the collegiate model, but now, with stipends or cost of attendance, we’re paying players. Call it what you want. We’re fast approaching a professional model.”

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Business Today

16 July 2015

On The Record

THIS MONTH REAL ESTATE TRANsACTIONS . . . 16 FORECLOSURES . . . . . . . . . . . . . . . . . 19 NEW CORPORATIONS . . . . . . . . . . . . 20

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 06/01/15 $300,000 Daniel & Donna Gavin to Trevor Westbrook & Kelly Oles, 702 Richland Dr., Huntersville 28078 06/01/15 $300,000 Karl, Stephanie & Leigh Painter to James & Tiffany Johnson, 1291 Middlecrest Dr., Concord 06/01/15 $375,000 M/I Homes of Charlotte, LLC to Santhi Muthyala, 10583 Skipping Rock Ln., Concord 06/02/15 $266,500 James & Melody O’Keefe to Joseph & Kate Battinelli, 806 Chadbourne Ave., Concord 06/02/15 $260,500 Seth & Carolyn Honea to

Brian & Kristyn Kennan, 10910 Hat Creek Ln., Davidson 28036 06/02/15 $448,000 Phillip & Laura Craver to Tyler & Jessica Slabaugh, 11865 Hidden Forest Ln., Davidson 28036 06/02/15 $295,000 Kunju Pulikkalakath & Meerasahib Hzazeena to Balasubramanian Subbian & Rami Balasubramanian, 9504 Rocky Spring Ct., Concord 06/02/15 $550,000 Cabarrus County Enterprises, Ptnrp. to MPV SBR Investors, LLC, 4 ac. on Biscayne Dr., Concord 06/02/15 $397,000 Paul & Maria Pivirotto to Christopher Stein & Christine Promin, 2520 Fallbrook Pl., Concord 06/02/15 $250,000 Douglas & Rita Schaub to Brian Simpson, 445 Veterans Dr., Concord 06/02/15 $1,230,000 1744 Concord Lake Road, LLC to Carolina Development Services, LLC, 1744 Concord Lake Rd., Concord 06/02/15 $265,000 Michael & Naseem Helms to Richard & Valerie Glass, 5659 Landale Ct., Concord 06/02/15 $275,000 Douglas & Amanda Carroll to Nathan & Christy Burton, 1508 Little Fall Dr., Concord 06/03/15 $373,000 James & Dawn Costa to Joseph & Ashley Donahue, 5385 Stone Brook Ct., Davidson 28036 06/03/15 $340,000 David & Sherri Robinson to Wesley & La’Trecia Glover, 4324 Abernathy Pl., Harrisburg 06/03/15 $389,000 James & Lauren Talton to Jessie & Glenda Mayo, 9567 Millen Dr.,

Harrisburg 06/03/15 $304,500 Randall & Diane Geddes to William & Aprille Mitchell, 5934 Havencrest Ct., Concord 06/04/15 $385,000 John & Lisa Laqua to Luz Manzano & Edgar Vasquez, 2421 Spur Ln., Concord 06/04/15 $328,000 Andre & Linda Van Der Westhuizen to Charles & Donna Gibson, 5710 North Oakmont St., Kannapolis 06/04/15 $312,000 Geosam Capital US, LLC to Live Well Homes LLC, Lots 3, 13, 24-26, 43 & 44 of Pleasant Oaks Subdivision, Concord 06/05/15 $263,500 D.R. Horton, Inc. to Richard & Ursula Pugh, 1437 Overlea Pl., Concord 06/05/15 $360,000 Jason & Tanya Oesterreich to Matthew & Jennifer Laxton, 800 Towncreek Pl., Concord 06/05/15 $1,260,000 Wayne Patrick Holdings, LLC to D.R. Horton, Inc., Lots 402-447 of River Pointe Subdivision, Concord 06/05/15 $406,000 Vincent & Carol Teal to Rodney Rothoff & Queen Miller, 10301 Elven Ln., Charlotte 28269 06/05/15 $285,000 Daniel & Mae Holland to Gregory & Chantelle Balog, 201 Hillcrest Ave., Concord 06/05/15 $250,000 Mary Alexander to Quincy & Rolonda Morgan, 404 Ann St., Kannapolis 06/05/15 $315,500 Bonterra Builders, LLC to Monte & Tameka Purdie, 515 Iron Horse Ln., Midland 06/05/15 $387,500 Jared & Lindsay Simpson to Salvatore & Rishannon Rizzo, 3965 Hounslow Ln., Harrisburg 06/05/15 $313,000 Parker & Orleans Homebuilders, Inc. to Joan Been, 4427 Mill Landing Dr., Harrisburg 06/05/15 $251,500 Brian & Virginia Carroll to Adam & Victoria Stapleton, 2731 Sunberry Ln., Concord 06/08/15 $268,500 Orleans-Conservatory Group to Reggie Lowder, 11520 Glowing Star Dr., Charlotte 28215 06/08/15 $275,000 Mario & Maria Campos to Mark & Kimberly Read, 1581 Shadow Creek St., Concord 06/08/15 $315,000 William & Michelle Baldree to Alan & Tami Dietz, 9719 Anagorn Ln., Charlotte 28269 06/08/15 $420,000 Villas at Winecoff Holdings, LLC to MTS CLT, LLC, 19 ac. on Winecoff School Rd., Concord 06/08/15 $266,000 NVR, Inc. to Frederick & Jennifer Clemens, 7401 Dover Mill Dr., Concord 06/09/15 $693,000 Classica Homes, LLC to Karen Lambert, 2426 Summers Glen Dr., Concord 06/09/15 $260,000 Jennie Tomlin to Seth & Emily Murdoch, 319 Sunnyside Dr., Concord 06/09/15 $303,000 M/I Homes of Charlotte, LLC to Lakshmi Dasari & Guruprasad Linga, 1228 Tranquility Point Ave., Concord 06/10/15 $335,000 Parker & Orleans Homebuilders, Inc. to Vital Cannon, 9632 Estridge Ln., Concord 06/10/15 $318,000 M/I Homes of Charlotte, LLC to Prasanna Kondapi & Neelima Kolakal-

uri, 10575 Skipping Rock Ln., Concord 06/11/15 $310,000 Nick & Donna Hutzel to Lloyd & Harriett Payne, 9581 Mahland Ct., Concord 06/11/15 $369,000 William & Kathryn Nolen to Clinton & Katherine Riddle, 1240 Fawn Ridge Rd., Concord 06/11/15 $263,500 Live Well Homes, LLC to Stephan & Julia Chrismon, 4160 Waterstone Pl., Concord 06/11/15 $305,000 Lennar Carolinas, LLC to Jeremy & Natalie Rutkowski, 2070 Feldspar Dr., Davidson 28036 06/11/15 $280,000 Amazonia, Inc. to Darrell Hagler & Gene Verble, Jr., Lot 12 of Wilshire Industrial Park, Concord 06/11/15 $304,500 Jonathan & Colleen Yura to Tonya Shepherd, 10346 Falling Leaf Dr., Concord 06/11/15 $461,500 NVR, Inc. to Sathish Venugopal & Kirthilakshmi Govindaswamy, 4230 Green Park Ct., Harrisburg 06/12/15 $250,000 Thomas & Jean Laton to Stonehedge Development & Construction, Inc., Condo Unit #240, Concord 06/12/15 $350,000 Dana Jarvis to Modular Technologies, Inc., Unit 2-C, First Turn Tower Condo, Concord 06/12/15 $300,000 Victor & Barbara Chaves to Derek & Michelle Miller, 9676 Laurie Ave., Concord 06/12/15 $440,000 James & Pamela Honeycutt to Michael & Charlotte Stanley, 3850 Hounslow Ln., Harrisburg 06/12/15 $358,000 Byron & Nicole Eastman to Nadjim Hammouda & Aicha Oudjet, 9162 Perseverance Dr., Concord 06/12/15 $257,000 Raymond & Stephanie Edick to Shane & Sherry MacMillan, 289 Laurel Bay St., Concord 06/12/15 $285,000 Linda Fulwider to Padmavani Gorty & Krishna Pasumarthy, 9879 Darby Creek Ave., Concord 06/15/15 $295,000 John & Lisa Cimino to David & Hilary St. Louis, 5808 Wingate Way, Concord 06/15/15 $291,000 Richard & Emily Bauguss to Kathryn Strack, 636 Lorain Ave., Concord 06/15/15 $362,000 Timothy & Emily Alley to Eric & Kristy Hatley, 7495 Katelyn Ct., Harrisburg 06/15/15 $404,500 M/I Homes of Charlotte, LLC to James Faller, 10564 Skipping Rock Ln., Concord 06/15/15 $379,500 M/I Homes of Charlotte, LLC to Ramkumar Jutur & Pragathi Pasupula, 2660 Red Maple Ln., Harrisburg 06/15/15 $281,500 M/I Homes of Charlotte, LLC to Nirav Parikh & Madhavi Shah, 1232 Tranquility Point Ave., Concord 06/15/15 $260,500 The Ryland Group, Inc. to Eric & Jocelyn Duran, 2165 Laurens Dr., Concord 06/15/15 $278,000 Martin Clark to Joseph & Sabita Whitlingum, 728 King Frederick Ln., Concord 06/15/15 $316,000 Cynthia Fertenhaugh to Anthony & Brandy Helton, 1307 Dennbriar See TRANSACTIONS, Page 18

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Business Today

18 July 2015

On The Record

TRANSACTIONS from page 16

Dr., Concord 06/16/15 $260,000 John & Kimberly Sotak to Thomas & Amanda Pangborn, 2604 Mill Wright Rd., Concord 06/16/15 $275,000 D.R. Horton, Inc. to Tyler & Mary Davis, 1432 Overlea Pl., Concord 06/16/15 $348,000 Bonterra Builders, LLC to Kristopher & Jeana Burt, 11037 Thornbeck Ln., Midland 06/16/15 $314,500 Bonterra Builders, LLC to Jason & Tiffany Balentine, 501 Iron Horse Ln., Midland 06/16/15 $301,000 The Ryland Group, Inc. to Raja Chintalapati & Lakshmi Potturi,2177 Laurens Dr., Concord 06/17/15 $264,000 D.R. Horton, Inc. to Corey Slovick, 1424 Overlea Pl., Concord 06/17/15 $317,500 Parker & Orleans Homebuilders, Inc. to Bradley & Karen Sekuich, 4447 Mill Landing Dr. Harrisburg 06/17/15 $259,000 Journey Investment Group, LLC to Eric & Kelly Stegall, 545 Weyburn Dr., Concord 06/18/15 $296,000 Ryan & Becky Fish to Ryan & Tiffany Webber, 3783 Burnage Hall Rd., Harrisburg 06/18/15 $254,000 Jerry Kelly to Diane Davis, 3953 Troon Dr., Concord 06/18/15 $286,000 M/I Homes of Charlotte,

LLC to Robert Desandre, 10560 Skipping Rock Ln., Concord 06/18/15 $394,500 The Ryland Group, Inc. to Frank & Linda Nester, 2704 Stonewood View, Kannapolis

More Cabarrus Transactions online at www.BusinessTodayNC.com

Mecklenburg County 6/3/15 $409,000 William & Deborah Aull to Brian & Ashley Neff, 504 Ashby Dr., Davidson 6/3/15 $295,000 Robert & Carol Hicks to James & Jacqueline Uttley, 18700 Silver Quay Dr., Cornelius 6/3/15 $659,000 Roberta Tindall to William & Deborah Aull, 19804 River Falls Dr., Davidson 6/3/15 $417,500 NEI Global Relocation Co. to Matthew Blickley & Courtney Brizendine, 9609 Barnburg Ln.,, Huntersville 6/3/15 $417,500 Robert & Kim Manning to NEI Global Relocation Co., 9609 Barnburg Ln., Huntersville 6/3/15 $1,600,000 Clara & Samuel Davis Jr. to William & Sherry Augustine, 18205 Mainsail Point Dr., Cornelius 6/4/15 $500,000 John & Kathy Brosnahan to Charles & Kim Murphy, 18833 Dembridge Dr., Davidson 6/4/15 $665,000 Raimo & Heidi Peltoniemi to Jonathan & Elizabeth Brady, 19919 Stough Farm Rd., Cornelius

6/4/15 $262,000 Nathan & Jennifer Olson to Jaya Pasachhe & Sony Shrestha, 14726 Lyon Hill Ln., Huntersville 6/5/15 $265,000 Jody & Jennifer Fortson to David & Billie Hansen, 8510 Lake Pines Dr., Cornelius 6/5/15 $358,000 Stephen & Dinah Ward to Charles Jr. & Teresa Maves, 10227 LaFoy Dr., Huntersville 6/8/15 $357,000 Pamela Stephenson to Neal & Betsy Norvell, 226 Twain Ave., Davidson 6/8/15 $13,800,000 Glenwood Birkdale Co. LLC to Fairway - Birkdale LLC, Lots 1 and 2 final subdivision plat for The Shoppes at Birkdale Crossing, Huntersville 6/9/15 $255,000 Craig & Carrie Leonard to Holly Barker, 10604 Quarrier Dr., Cornelius 6/10/15 $298,000 Daniel & Jennifer Kiraly to Marcus & Lori Lee, 8707 Lake Pines Dr., Cornelius 6/11/15 $458,000 Susan Miller to Paula Ginger, 17817 Mesa Range Dr., Cornelius 6/11/15 $298,000 Carl & Mary Groth to Scott & Elizabeth Cristenbury, 15426 Waterfront Dr., Huntersville 6/12/15 $398,000 South Creek Homes to James & Francine Clarke, 18409 Neville Ave., Cornelius 6/12/15 $251,000 Pulte Home Corp. to Simon & Adriane Foster, 12805 Heritage Vista Dr., Huntersville 6/12/15 $425,000 Randell & Lisa Shuette to greg & Abby Pronti, 12017 Farnborough Rd., Huntersville

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6/12/15 $550,000 Mark & Sara Thomas to Michael & Jessica Kearney, 18800 Greyton Ln., Davidson 6/12/15 $255,000 Pulte Home Corp. to Dan Bin Chen, 15218 Colonial Park Dr., Huntersville 6/12/15 $360,000 Ivonnelly & Jerry Linder to Monica Toll, 20332 Cathedral Oaks Dr., Cornelius 6/15/15 $690,000 Thad & Crystal Dibble to Sarah & Robert Puls, 19000 Serenity Point Ln., Cornelius 6/15/15 $255,000 Jerome & Amy Orr to John Hurst & Julie Alexander, 18109 Harbor Mist Rd., Cornelius 6/15/15 $510,000 Melissa Birdsong & Duncan Russell to Biran & Sarah Jenest, 312 O’Henry Ave., Davidson 6/15/15 $415,000 Ronald Jr. & DeAnna Horton to Ryan & Jennifer Boone, 12512 Willingdon Rd., Huntersville 6/15/15 $534,500 Richard & Tanya Mau to William & Cindy Lebeau, 15008 Old Vermillion Dr., Huntersville 6/15/15 $417,500 Wayne Miller II & Belinda Miller to Justin & Kelly Revels, 14110 Bramborough Rd., Huntersville 6/15/15 $590,000 Ying Shapiro to John & Jamilyn Liebler, 17317 Cove View Ct., Cornelius 6/15/15 $390,000 Thomas Jr. & Jennifer Schwartz to Rachel & Geoffrey Palmer, 16142 Glen Miro Dr., Huntersville 6/15/15 $280,000 Samuel Winthrop to Dorothea Hollowed & James Chambers, 224 Twain Ave., Davidson 6/15/15 $290,000 South Creek Homes to David & Sandra Dunaway, Lot 255 Bailey’s Glen, Cornelius 6/15/15 $525,000 Herbert Jr. & Jacqueline Gregory, Joseph & Cynthia Gregory to Mark & Sara Thomas, 18800 Greyton Ln., Davidson 6/16/15 $369,500 Jeffrey & Laura Ziegler to Julie Colon John & Cheryl Smart, 19736 Beneteau Ct., Cornelius 6/16/15 $355,000 Ronald & Megan Rippner to Greg & Jeanne Blalock, Mary & Stephen Turetsky, 15714 Taviston St. Huntersville 6/16/15 $300,000 Blue Heel Development LLC to Meeting Street Towns LLC, Lots 1-8 Davidson Station subdivision, Davidson 6/17/15 $1,240,000 Leigh & Michaela Diffey to Kuo Yu & Wei Huang, 19110 Mary Ardrey Cir., Cornelius 6/18/15 $355,000 South Creek Homes to Carol Rayn, 18433 Neville Ave., Cornelius 6/18/15 $330,000 South Creek Homes to Joseph Jr. & Sandra Fondino, 18431 Neville Ave., Cornelius 6/18/15 $448,000 Jeremy & Margrethe Vagell to Jeffrey & Anna Vipond, 12317 Bradford Park Dr., Davidson 6/18/15 $300,000 Matthew Difebo & Joyce Hwey Lee to Michael Byrnes, 12704 Cheverly Dr., Huntersville 6/18/15 $717,000 Westmoreland Lake LLC to Luis & April Agosto, 15715 Holyhead Ln., Huntersville See TRANSACTIONS, Page 19

Business Today

July 2015

On The Record

TRANSACTIONS from page 18

More Mecklenburg Transactions online at www.BusinessTodayNC.com

Mooresville 5/29/15 $635,00 Mark & Deborah Loebach to Michael & Nancy Connery, 164 Ragsdale Trl. 28117 5/29/15 $1,781,500 Carl & Lisa Peggs to Sanjay Avasthi, 2585 Brawley School Rd. 28117 5/29/15 $384,500 The Ryland Group to Robert & Katrina Dorroh, 405 E. Waterlynn Rd. 28115 5/29/15 $251,500 NVR to Richard & Denice Schindler, 136 Alborn Dr. 28115 5/29/15 $300,000 Dennis & Darlene Flores to Christopher & Susan Sigmon, 188 Crimson Orchard Dr. 28115 5/29/15 $255,000 Asbjorn & Maja Fiskerstrand to Donald & Kelly Kirkland, 133 Glade Valley Ave. 28117 5/29/15 $485,000 Klaus & Danielle Werner to Eric Kempthorn, 146 Knoxview Ln. 28117 5/29/15 $377,500 James Vince & Irene Golding to Tracy & Kyle Moyer, 142 Culpeze Rd. 28117 5/29/15 $504,500 Sarah Roman to Daniel & Wendy Telatko, 105 Jack Pine Ct. 28117 5/29/15 $359,000 Paul & Tansy Leblanc to Joshua & Andrea McGlinn, 196 Tawny Bark Dr. 28117 5/29/15 $780,000 Ronnie & Judy Sherrill to Mark & Deborah Loebach, 206 Queens Cove Rd. 28117 6/1/15 $274,500 Eastwood Construction to David Maineri & Meline Wareham, 143 Millen Dr. 28115 6/1/15 $1.350,000 Kenneth & Katherine McLeod to John Bellissimo & Mary Jo Powers, 109 Rehoboth Ln. 28117 6/1/15 $348,000 Epcon Mooresville to Ralph & Deborah Taylor, 151 Brawley Point Cir. 28117 6/1/15 $279,500 Lennar Carolinas to Thomas & Christine Bedson, 146 Swamp Rose Dr. 28117 6/1/15 $355,500 Lennar Carolinas to Daniel & Madalina Anton, 150 Flora Vista Dr. 28117 6/1/15 $299,000 Mattamy Carolina Corporations to Scott & Sara D’Amico, 103 Cranbrook Ln. 28117 6/1/15 $535,000 John & Donna Stephen to Gerardo Pin & Sara Badano, 321 Indian Trl. 28117 6/1/15 $344,000 Parker & Orleans Homebuilders to Lisa & Jason Newsome, 109 Heron Cove Loop 28117 6/1/15 $473,000 Sherry Coogle to Tiffany & Bill Mitchell, 134 Lawrence Tee Ln. 28117 6/1/15 $315,000 RLS Rental Properties to James & Susan Gwaltney, 527 Canvasback Rd. 28117 6/1/15 $458,000 Lakeshore Holdings to Mark & Jacqueline Bumgarner, 105 Linden-

falls Ct. 28117 6/2/15 $258,000 Paul & Kristin Quackenbush to Joe & Michelle Steele, 222 Shinnville Rd. 28115 6/2/15 $270,500 John & Diedre Figler to Steven & Nicole Johnson, 107 Hawleyville Ln. 28115 6/3/15 $765,000 William & Zaira Goodman to Kurt Massey, 177 Quail Ridge Dr. 28117 6/3/15 $470,000 Michael & Dawn Burkett to Michael & Margene Radcliff, 128 Chestnut Bay Ln. 28117 6/3/15 $274,000 Julie Shelton to Thomas Matisko, 106 Shelter Cove Ln. 28117 6/4/15 $382,000 The Ryland Group to Blakely & Jeanette Milam, 303 East Waterlynn Rd. 28115 6/4/15 $266,000 Stephen & Karla Reina to John & Paula Laws, 152 Ashlyn Creek Dr. 28115 6/5/15 $352,000 George & Gayle Brown to Sean & Jeaine Robillard, 148 Oak Meadow Rd. 28115 6/5/15 $640,000 Amber & Darren Schmolke to Michael & Dawn Burkett, 163 E. Cold Hollow Farms Dr. 28117 6/5/15 $388,000 The Ryland Group to Sridhar Nateri & Divyasree Kandarpa, 178 Alexandria Dr. 28115 6/5/15 $660,000 Moorestate Development to Margrethe & Jeremy Vagell, 118 Grasshopper Cir. 28117 6/5/15 $401,000 Douglas & Abigail Kirby to Madhavi Nookala & Jason Carlson, 117 Northington Woods Dr. 28117 6/8/15 $366,000 Niblock Homes to Kevin & Stacey Stoeckert, 125 Willowbrook Dr. 28115 6/8/15 $439,000 Meritage Homes of the Carolinas to Elabiela & Maja Mullens, 112 North San Agustin Dr. 28117 6/8/15 $285,000 Scott & Mary Gradert to Gabriel Faria, 138 Coronilla Rd. 28115 6/8/15 $250,000 Taylor & Lauren Dennard to Gerald & Pamela Nance, 193 Segemore Rd. 28117 6/8/15 $255,000 Kristi Hassiden & Christine Tiffany to Taylor & Lauren Dennard, 116 Runningdeer Dr. 28117 6/9/15 $390,500 Niblock Homes to Jordan & Kathleen Needles, 108 Timberfalls Ct. 28115 6/9/15 $459,000 Charles & Mary Pippin to James Lontz & Debra Siler, 134 Red Brook Ln. 28117 6/9/15 $280,000 Srilatha Kandakatla & Narendar Gottimukkala to Allen & Gina Tunget, 112 Grayfox Dr. 28117 6/10/15 $479,000 Douglas Ehmann to Arriel Concepcion, 141 Sapphire Dr. 28117 6/10/15 $401,500 The Ryland Group to Sumanta Bhunia & Anindita Paul, 172 Alexandria Dr. 28115 6/11/15 $552,000 Edward & Karen Evans to Robert & Rebecca Lumadue, 405 Bayberry Creek Cir. 28117 6/11/15 $1,200,000 Judith Peacock to Stephen & Danielle Peacock, 167 Old Arborway Rd. 28117 6/11/15 $390,000 Grant & Camelia Gurski to Joan Caras, 149 Culpreze Rd. 28117 6/11/15 $265,000 Jonathan Sipple to

Michael & Holly Rahtes, 222 Almora Loop 28115 6/12/15 $1,049,000 Thomas & Valarie Dillis to Jimmy Lummus, 157 Bay Shore Loop 28117 6/12/15 $635,000 John & Joan Finn to Mark & Renee Groskreutz, 135 East Maranta Rd. 28117 6/12/15 $252,500 Lennar Carolinas to Shannon Bumgarner, 111 Swamp Rose Dr. 28117 6/12/15 $268,000 Eastwood Construction to Leando & Sharita Henderson, 124 Renville Pl. 28115 6/12/15 $395,000 Rene & Susan Gonzalez to Dana & Julie Suggs, 117 Blake Ln. 28117 6/12/15 $493,000 Lakeshore Holdings to Peter & Christa Chen, 151 Orchard Farm Ln. 28117 6/12/15 $317,000 Parker & Orleans Homebuilders to Michael & Jeanette O’Neill, 111 Heron Cove Loop 28117 6/12/15 $284,500 Willow Creek Homes to Christopher & Laura Russell, 198 Wellshire St. 28115 6/12/15 $260,000 Justin & Kelly Revels to Eric & Tina Borgstrom, 131 Hedgewood Dr. 28115 6/12/15 $1,270,000 Billy & Susan Gandy to Thomas & Valarie Dillis, 106 Masthead Ct. 28117 6/12/15 $1,007,500 William & Naomi Hansen to Enrique Vernet & Tania Acevedo, 173 Polpis Rd. 28117 6/12/15 $892,900 Alan & Winnie Donaldson to Billy & Susan Gandy, 115 Donaldson Ct. 28117 6/12/15 $930,000 Stephanie & John Turner to Kevin & Christy McGuire, 374 Beaten Path Rd. 28117

More Mooresville Transactions online at www.BusinessTodayNC.com

FORECLOSURES

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.

Cabarrus County 06/01/15 Phillip & Angela Laubscher, 979 Ramsgate Dr., Concord, Wells Fargo Bank, $142,331 06/02/15 Jeffery & Teresa Malchesky, 4205 Coulter Crossing, Charlotte 28213, U.S. Bank, $116,271 06/02/15 Daniel & Tara Bickerstaff, 297 See FORECLOSURES, Page 20

19

Business Today

20 July 2015

On The Record

FORECLOSURES from page 19

Moore Dr., Concord, HSBC Bank USA, $64,000 06/02/15 Candice Harrington, 60 1st St., NW, Concord, Bank of America, $94,500 06/03/15 Bobby Rayfield, Jr., 4022 D C Dr., Concord, Wells Fargo Bank, $59,500 06/03/15 Cory & Amanda Hendrix, 713 Nannyberry Ln., Concord, American Security Mortgage Corp., $203,801 06/03/15 William & Donna Banks, 3658 Burnage Hall Rd., Harrisburg, Countrywide Home Loans, Inc., $272,626 06/03/15 Donald & Betty Fogner, 1355 Mistletoe Ridge Pl., Concord, Wilmington Savings Fund Society, $143,660 06/09/15 David & Kristen Wilson, 97 Liske Ave., Concord, U.S. Bank Trust, $68,274 06/09/15 Jimmy & Amber Morgan and Cody Hopkins, 3720 Vanderburg Dr., Concord, Wells Fargo Financial NC, $56,994 06/10/15 Kristi Critchley, 1667 Barbara Ann Cr., Kannapolis, Prospect Mortgage LLC, $126,663 06/10/15 Phyllis Lynch, 162 Georgia St., Concord, Bank of America, $159,988 06/10/15 Ronnarith & Wiangsai Phongeunh, 2416 Grandhaven Dr., Kannapolis, Ocwen Loan Servicing, $86,350 06/10/15 Brooke Mincey & Cameron White,

1730 Summit Ridge Ln., Kannapolis, SunTrust Mortgage, Inc., $125,681 06/12/15 Arthur Johns, Jr. & Toya Williams, 3604 Burnage Hall Rd., Harrisburg, Nationstar Mortgage LLC, $330,000 06/15/15 Michael & Lori Negron, 9615 Bellamy Pl., Concord, Wells Fargo Bank, $131,036

More Cabarrus Foreclosures online at www.BusinessTodayNC.com

Mecklenburg 5/28/15 Michael & Lisa Fuller, 7206 Brassy Creek Ln., Charlotte 28269, CitiMortgage $189,957 5/28/15 Antares & Kendre Bennett, 6807 Neuhoff Ln., Charlotte 28269, JPMorgan Chase Bank $215,000 5/28/15 Jackie Viteri, 13526 McCoy Ridge Dr., Huntersville, Universal American Mortgage $219,500 5/29/15 Patricia Konish, 3837 Beauvista Dr., Charlotte 28269, Quicken Loans $215,201 5/29/15 Tamara Sturdivant, 6311 Richfield Ln., Charlotte 28269, Allen Tate Mortgage $109,000 6/1/15 Juan & Gabriella Alberdi, 16017 Bushnell Ct., Huntersville, GreenPoint Mortgage Funding $132,000 6/4/15 Ryan Dalle-Tezze, 626 Old Meeting Way, Davidson, BSM Financial $122,400

6/4/15 Herman Arbitto, 10729 Glenluce Ave., Charlotte 28213, Countrywide Home Loans $119,900 6/4/15 Dan & Regina Bias, 15631 Chipping Dr., Huntersville, Fairview Home Mortgage $236,700 6/10/15 Jock Morrison, 8415 Chaceview Ct., Charlotte 28269, Fremont Investment & Loan $106,807 6/11/15 Erick & Maria Hernandez, 900 Squirrel Hill Rd., Charlotte 28213, PRLAP $69,300 6/12/15 Jelina & Alonzo Graham, 5719 Seths Dr., #604, Charlotte 28269, Franklin American Mortgage $94,500

More Mecklenburg Foreclosures online at www.BusinessTodayNC.com

Mooresville 5/18/15 Matthew Caton, 215 Sweet Martha Dr. 28115, First Franklin Financial $132,000 5/20/15 Vincent & Susan Carroll, 106 Peralta Cir. 28117, Wells Fargo Bank $270,750 5/20/15 Paul & Suzanne Robinson, 118 Larkhave Ln. 28117, First Franklin Financial $338,000 5/20/15 Allen & Phyllis Brown, 421 Mallard Pl. 28117, Nationsbanc Mortgage $71,900 5/22/15 Francis & Elizabeth Russ, 166 Brantley Place Dr. 28117, American Bank $146,291 5/27/15 Sheila Baxter, 108 St. Thomas Ct. 28117, ABN Amro Mortgage Group $129,200 6/2/15 Peter & Carrie Sospenzo, 117 Keel Ct. 28117, America’s Wholesale Lender $1,120,000 6/9/15 Roger Lawson, 392 Brook Glen Dr. 28115, Countrywide Home Loans $121,724 6/10/15 Jib D. Street, 104 Standish Ln. 28117, Countrywide Home Loans $550,000 6/11/15 Rita D. Ball, 157 Camforth Dr. 28117, Beazer Mortgage $134,878 5/5/15 Ronald & Carol Overcash, 2038 CharMore28117, Mooresville lotte Hwy. Bank of Foreclosures America $83,466

online at www.BusinessTodayNC.com

NEW CORPORATIONS These businesses have registered with the N.C. Secretary of State.

Cabarrus County 6/9/15 N&J Land Investments LLC, Blenda Troutman Snodderly, 80 Burrage Rd., Concord 6/9/15 SRJ Russell Inc., Selena W. Russell, 201 Winona Ave., Kannapolis 6/9/15 Tracy Rowland Real Estate, Tracy Powland, 5621 Winslow Ave. NW, Concord 6/10/15 The Law Firm of Nicole J. Merritt PLLC, Nicole Merritt, 2955 Walter Dr. NW, Concord 6/10/15 Mariposa Investments LLC, Richard E. Ottinger, 3612 Still Oaks Ct., Concord 6/10/15 MB Premier Enterprises LLC, Martin Myron, 9844 Shearwater Ave. NW, Concord

6/10/15 MVC Siding LLC, Miguel Valadez Campos, 106 Southampton Dr. NW, Apt. 106, Concord 6/11/15 CSI Financial Partners LLC, David W. Murdaugh Jr., 3932 Balmoral Ave., Harrisburg 6/11/15 ETS Express Inc., Taly Eyal, 7055 Northwinds Dr. NW, Concord 6/11/15 JB Chase Ventures Inc., J. Brandon Chase, 5944 Ashebrook Dr., Concord 6/11/15 M.P.C. Interpretation Inc., Maria P. Chase, 5944 Ashebrook Dr., Concord 6/11/15 Renaissance Resort Realty LLC, Sabrina Wilkinson, 9645 Storybook Ave., Concord 6/12/15 Galaxy Affordable Countertops Inc., Luis Alberto Zuniga Navarro, 1787 Mission Oaks St., Kannapolis 6/12/15 Ivey Hill Homes LLC, Timothy Rohmann, 1312 Bennington Dr. NW, Concord 6/12/15 K-Town Services LLC, Jon-Michael Devine, 8410 Pit Stop Ct., Ste. 120, Concord 6/12/15 Manor Avenue Properties LLC, Van George Diatzikis, 2668 Sunberry Ln., Concord 6/12/15 RF Engines LLC, Richard C. Fred, 238 Hwy. 49 S, Concord 6/12/15 Sword’s Garage Doors LLC, Kevin Sword, 2117 Joe St., Kannapolis 6/12/15 Too Easy Wright Services LLC, Angela Richardson, 201 Halton Crossing Dr. SW, Concord 6/12/15 Wing Realty Union LLC, Kristin H. Wing, 8831 Columbus Rd., Davidson 6/15/15 High Tide Pharmaceutical Consulting LLC, Xian Zhong, 4862 Benhill Dr., Harrisburg 6/15/15 Lotus Living Arts Studio LLC, Vasiliki Geros Holmes, 151 Krimminger Ave. SE, Concord 6/15/15 Pixologie Carolinas LLC, Karen C. Barbee, 4015 Parkmont Rd., Concord 6/15/15 Spirit Cents LLC, Jaren J. Edwards, 2478 Christenbury Hall Ct. NW, Concord 6/16/15 MSD Supplier Inc., Tiffany C. Liu, 118 Poplar Woods Dr., Concord 6/16/15 Top of the Line Flooring LLC, Jason Thompson, 92 Meadow Ave. NE, Concord 6/17/15 Couture Events By AJ LLC, Adjeiley Elmara Obedekah-Taylor, 660 Shellbark Dr., Concord 6/17/15 National Floor Service LLC, Douglas Owens, 209 Brown St. SW, Concord 6/17/15 Triumphant Gemstones In Ministries, Chryste L. Middleton, 5995 Rolling Ridge Dr., Kannapolis 6/18/15 8:18 Properties LLC, Richard Miller, 409 Eastway Ave., Kannapolis 6/18/15 General Interior Solutions LLC, Ismael Gonzalez Martinez, 2642 Millpond Way, Concord 6/18/15 Gift Box Realty LLC, Adriane Smith, 3229 Roberta Farms Ct., Concord 6/18/15 Slightly Off Software Inc., Alejandro J. Caceres, 5650 Fetzer Ave. NW, Concord 6/18/15 Southbound 6 LLC, Randall Huffman, 1157 Windsor Dr., Kannapolis 6/19/15 Black Pearl Management LLC, Justin See NEW CORPORATIONS, Page 21

Business Today

July 2015

21

On The Record

NEW CORPORATIONS from page 20

Copeland, 44 Tarrymore Ln. SW, Concord 6/19/15 Educational Concepts & Solutions LLC, Donald E. Turner, 5510 Dogwood Blvd., Kannapolis 6/19/15 The Gazelle Network LLC, Timothy Wayne Barnes, 1295 Amber Ridge Rd., Concord 6/19/15 La Roma’s Pizza of Concord Inc., Giuseppe Cucuzza, 4980 Wheat Dr. SW, Concord 6/22/15 D&N Investment Group LLC, Danny Bailey Jr., 4493 Norfleet St., Concord

More Cabarrus New Corporations online at www.BusinessTodayNC.com

Mecklenburg County 6/10/15 Davidson Neuropsychological Services P.C., Ruth Yoash-Gantz, 445 Delburg St., Davidson 6/10/15 Ms. Roth LLC, Richard J. Kline, 230 South Main St., Davidson 6/10/15 Right Choice Premium Cleaning LLC, Raytarius Weathers, 1304 Hunter Oaks Ln., Apt. 30, Charlotte 28213 6/10/15 Silverknight LLC, Deann Bailey, 400 Gilead Rd., #1661, Huntersville 6/10/15 Silverknight Charities, Deann Bailey, 400 Gilead Rd., #1661, Huntersville 6/10/15 SVL 130 LLC, Richard J. Kline, 230 South Main St., Davidson 6/10/15 Taqueria Los Altos LLC, Ruben Morales, 4312 David Cox Rd., Charlotte 28269 6/10/15 TJ’s Specialty Flooring LLC, Meek Law Firm P.C., 10130 Mallard Creek Rd., Ste. 3000, Charlotte 28262 6/11/15 Bellsong Group LLC, Ivan Svetlicic, 8712 Bell Song Ln., Huntersville 6/11/15 Cavendish Brewing Company LLC, Scott Cavendish, 15905 Brookway Dr., Ste. 4101, Huntersville 6/11/15 Chambers Empire Transportation Inc., Jennifer Downing, 6423 Terrace View Ct., Charlotte 28269 6/11/15 Flint Foley Real Estate Inc., Flint Foley, 15180 Eric Kyle Dr., Huntersville 6/11/15 Mustshine Mobile Detailing LLC, Karen E. Bell, 12215 Heathers Mist Ave., Apt. 206, Charlotte 28213 6/11/15 New Way Foundation and Family Services Inc., Genesia Newsome, 1001 E. WT Harris Blvd., Ste. P150, Charlotte 28213 6/11/15 The Next Step Services LLC, Bartina L. Edwards, 10130 Mallard Creek Rd., Ste. 300, Charlotte 28262 6/11/15 PHD Productions LLC, Patrick Groft, 15731 Pine St., Huntersville 6/11/15 Portofino Home & Kitchen LLC, Alberto C. Del Valle, 3815 Brownes Ferry Rd., Charlotte 28269 6/11/15 River Wealth Solutions LLC, Scott Tansill, 19701 Bethel Church Rd., #103-230, Cornelius 6/11/15 RTA Promotions LLC, Arthur Kalos,

20102 Coachmans Wood Ln., Cornelius 6/11/15 Seekfirst Solutions Inc., Kenneth D. Steadman, 12526 Deaton Hill Dr., Charlotte 28269 6/11/15 Sidekick Leadership Consulting LLC, Clifford Kinchen Jr., 3359 Linetender Dr., Davidson 6/12/15 HMG Management LLC, Nasiyr Bey, 16044 Grafham Cir., Huntersville 6/12/15 ILM Properties LLC, Barbara G. McCall, 17322 W. Catawba Ave., Cornelius 6/12/15 National Youth and Development Academy, Andrea Sparkman, 6706 Brachnell View Dr., Charlotte 28269 6/12/15 Squeeze Juice Bar LLC, Nasiyr Bey, 16044 Grafham Cir., Huntersville 6/15/15 Amarnath Family Inc., Rohit Amarnath, 18101 Watercraft Pl., Cornelius 6/15/15 Charlotte Turn Key Contractors LLC, Bhupen Engineer, 18115 Harbor Mist Rd., Cornelius 6/15/15 D3 Inc., Joey Woodruff, 16138 Cranleigh Dr., Huntersville 6/15/15 First Love Church, Ronald E. Marsh, 2327 Godsey Wood Dr., Charlotte 28213 6/15/15 JT Redmond Photography LLC, Nyrva Redmond, 8953 Avebury Dr., Apt. J, Charlotte 28213 6/15/15 Lead’s Auto Body Inc., David S. Lead, 19421 Shearer Rd., Davidson 6/15/15 Pioneer Roofing of North Carolina Inc., Sohail Kehetani, 8511 Davis Lake Pkwy., Charlotte 28269

6/15/15 Scorebyscore LLC, Jimmy Knox, 8118 Statesville Rd., Ste. D, Charlotte 28269 6/15/15 Software Pricing Partners LLC, Chris Mele, 18709 Nautical Dr., Unit 304, Cornelius 6/15/15 TK & T LLC, Thomas T. Carr, 10035 Back Acre Dr., Charlotte 28213 6/16/15 Adolfo Zapata LLC, Adolfo Zapata, 19337 School St., Cornelius 6/16/15 Checkbacknow LLC, Kevin Battle, 10130 Mallard Creek Rd., Ste. 300, Charlotte 28262 6/16/15 G&D Fireplaces LLC, George Lindner Jr., 8232 Cleve Brown Rd., Charlotte 28269 6/16/15 Hudstel Protection LLC, David James Kessler, 13016 Eastfield St., Ste. 200202, Huntersville 6/16/15 Intensity Films LLC, Michael Sanders, 4984 Kotlik Dr., Charlotte 28269 6/16/15 JF Venture Group LLC, Jeanette Glinski, 18418 Mizzenmast Ave., Cornelius 6/16/15 TXD LLC, Jone S. O’Hara, 424 N. Faulkner Way, Davidson 6/16/15 Vacation Life Properties LLC, David James Kessler, 13016 Eastfield Dr., Ste. 200202, Huntersville 6/16/15 Vazquez M. Drywall LLC, Melquiadez Vazquez Perez, 5927 Moulton Ct., Charlotte 28213 6/17/15 GFAM LLC, Arthur L. Glasgow, 18218 Harbor Light Blvd., Cornelius 6/17/15 JRA Right of Way LLC, James R. Adkins Jr., 20011 Schooner Dr., Cornelius

6/17/15 KFG Aviation LLC, Olaf Walter, 6312 Muir Ct., Huntersville 6/17/15 RBZ Model Management LLC, Roger Benskin, 11715 Journeys End Trl., Huntersville 6/17/15 Selfish Boutique LLC, Meagan Murphy, 20109 Henderson Rd., Unit H, Cornelius 6/17/15 Serious Dough LLC, James P. Ludington, 17324 Wavecrest Ct., Cornelius 6/17/15 Top Deck Foundation Inc., Bridget Rainey, 16921 Jetton Rd., Cornelius 6/18/15 43Data LLC, Nicholas Roberts, 10304 Glenmeade Rd., Cornelius 6/18/15 Aplomb LLC, Ann Kemp, 17925 Kings Point Dr., Unit F, Cornelius 6/18/15 Dietrich Consulting Group PLLC, Erika M. Erlenbach, 209 Dleburg St., Ste. 203, Davidson 6/18/15 Digioia Properties, David Difioia, 16709 100 Norman Pl., Cornelius 6/18/15 Equipment Expo LLC, Thien Huong Thi Tran, 10209 Billingham Dr., Charlotte 28269 6/18/15 Jay Tray Inc., Tracey Propst, 17719 North Shore Cir., Cornelius 6/18/15 JK Holdings LLC, Joshua Hoke, 13320 Banner Court Ln., Huntersville 6/18/15 Lake Norman Holdings LLC, Adam G. Breeding, 9606 Bailey Rd., Ste. 260, Cornelius 6/18/15 Life as Artreads Inc., April C. Turner, See NEW CORPORATIONS, Page 22

Business Today

22 July 2015

On The Record

NEW CORPORATIONS from page 22

6525 Dougherty Dr., Charlotte 28213 6/18/15 Omninvest LLC, Hadi Sayess, 818 Marthas View Dr., Huntersville 6/18/15 Pacific Coast Enterprises, Sommer Emery, 8806 Baffin Ct., Charlotte 28269 6/18/15 Piedmont Signs LLC, Meek Law Firm PC, 10130 Mallard Creek Rd., Ste. 300, Charlotte 28262 6/18/15 Steele Creek Patnership LLC, Nalinbhai Patel, 16307 Autumn Cove Ln., Huntersville 6/18/15 United Plumbing LLC, Geison Silva, 11915 Brownestone View Dr., Charlotte 28269 6/18/15 Zranga LLC, Krithika Rayan, 10416 Dominion Village Dr., Charlotte 28269 6/19/15 BHB Transporting Inc., Bego Husic, 12125 New Bond Dr., Huntersville 6/19/15 CK Sunshine Property LLC, Chris Diorio, 122222 Farnborough Rd., Huntersville 6/19/15 Clean It Like Mom LLC, Wendy E. Washington, 9019 Hunters Pointe Dr., Huntersville 6/19/15 Component Learning Group LLC, Nealand Michael Lewis, 3020 Prosperity Church Rd., Ste. 416, Charlotte 28269 6/19/15 DC Getfit LLC, Lenton D. Collins, 12333 Lookout Point Dr., Charlotte 28269 6/19/15 Eleuthera Sunrise Inc., Daniel C.

Cohn, 10210 Hickorywood Hill Ave., #130, Huntersville 6/19/15 Global Education Innovation Group LLC, Jason Van Heukelum, 21544 Old Canal St., Cornelius 6/19/15 Major Preparation Cycle Breakers, Stanley Potts, 6425 Skyline Dr., Charlotte 28269 6/19/15 Meeting Place Properties II LLC, Richard D. Mack, 308 Kimberly Rd., Davidson 6/19/15 Michele Mathiesen Wellness LLC, Michele Mathiesen, 13730 Hastings Farm Rd., Huntersville 6/19/15 MJK Construction Services LLC, Michael B. Woodcock, 19732 One Norman Blvd., St.e 360, Cornelius 6/19/15 Patriot Property Solutions Inc., Paul Bellissimo, 20321 Pinehurst Dr., Cornelius 6/19/15 Rapide Technologies LLC, Derrick Ogundepo, 5629 Prescott Ct., Charlotte 28269 6/19/15 Robyn’s Nest Realty LLC, Robyn Licursi, 8511 Davis Lake Pkwy., Ste. C6-203, Charlotte 28269 6/19/15 Sassirenee LLC, Stephanie Allen, 7825 Kotz Ct., Charlotte 28269 6/22/15 The Hakim’s Stable LLC, Gabriel Hakim Pargas, 17903 Crossing Cir., Cornelius 6/22/15 Loveworld Music and Arts LLC, Famesha Okoeka, 200 E. Arrowhead Dr., Ste. 0-4, Charlotte 28213 6/22/15 Payentry Financial Services Inc., Geoffrey R. Duke, 9920 Kincey Ave., Ste. 110,

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Huntersville 6/22/15 Performing Arts and Literary Society LLC, Vickie L. Evans, 8945 Avebury Dr., Aot. F, Charlotte 28213 6/22/15 PSM Investments LLC, Bhupesh Patel, 19408 Fridley Ln., Cornelius 6/22/15 Shoe Zoo LLC, Maura Barnes, 19501 W. Catawba Ave. Ste. 204B, Cornelius 6/22/15 Williams Fitness I LLC, Brian Williams, 21409 Baltic Dr., Cornelius

More Mecklenburg New Corporations online at www.BusinessTodayNC.com

Mooresville 5/27/15 Sloop Small Engine Repair LLC, Ricky Sloop, 144 Presbyterian Rd. 28115 5/28/15 Bluechip Athletes Inc., Kevin C. Donaldson, 149 Welton Way 28117 5/28/15 Combs & Son Construction Inc., Paul D. Combs, 220 Chandeleur Dr. 28117 5/28/15 Fellfab (NC) Corporation, David D. McKnight, 1618 Landis Hwy. 28115 5/28/15 Lake Norman Sailing LLC, Ken Corsig, 111 Melville Ct. 28117 5/29/15 Albemarle Beach Solar LLC, Sunenergy 1 LLC, 192 Raceway Dr. 28117 5/29/15 Burchett Distribution Services Inc., Kevin L. Burchett, 1073 Shearers Rd. 28115 5/29/15 GGC Grading LLC, Gary M. Chepke, 162 Commodore Loop 28117 5/29/15 KYH Financial Services LLC, Kathleen Y. Hall, 104 Barnstable Ct. 28117 5/29/15 The Motorsports Group LLC, Curtis W. Key Sr., 222 Pitt Rd. 28115 5/29/15 Panther Health LLC, Ryan Thomas Yanicko, 521 E. Plaza Dr. 28115 5/29/15 PeopleSuite LLC, David L. Preston, 119 N. Main St., Ste. 204 28115 6/1/15 Alterris Properties LLC, Benjamin S. Adams Jr., 134 Culpeze Rd. 28117 6/1/15 Camp Precious Paws Boarding and Grooming LLC, Dana Lawing, 165 Live Oak Ln. 28115 6/1/15 PHW Holdings LLC, Chasney Diem, 223 Williamson Rd., Ste. 102 28117 6/1/15 Snatch Ventures LLC, Paul SeylerSchmidt, 115 Clusters Cir. 28117 6/2/15 Daniel Transports LLC, Kendall Wayne Daniel, 121 Lazy Ln. 28117 6/3/15 Druvin II Inc., Dhruvin Patel, 288 West Plaza Dr. 28117 6/3/15 Energica Motor Company LLC, Stewart Davis, 119 Poplar Dr., Unit A 28117 6/3/15 Hidden Creek Subdivision Homeowners Association Inc., R & S Holding Group LLC, 178 Torrence Chapel Rd. 28117 6/5/15 Jlireh Import Export LLC, Jerome N. Mikombo, 134 Rougemont Ln. 28115 6/5/15 The Painter’s Personal Touch Inc., 130 Carolina Wren Dr. 28115 6/5/15 SEAL Swim Charities Inc., Shannon Rusch, 169 McKendree Rd. 28117 6/8/15 Custom Retail Interiors LLC, Brian Prendergast, 173 Mooreland Rd. 28117 6/8/15 Imperial Drywall Enterprises Inc., Saul

Robles, 128 F Talbert Rd. 28117 6/8/15 MCA Living LLC, Gina Emerson, 184 Castles Gate Dr. 28117 6/10/15 Divine Living Real Estate LLC, Deann M. Scheppele, 280 Knoxview Ln. 28117 6/10/15 NC Lloyd Inc., K.A.C. Bookkeeping Services Inc., 438 Williamson Rd., Ste. F 28117 6/10/15 Triplecord Family Foundation, Tara Reeves, 106 Mayfair Rd. 28117 6/11/15 City Style Fashion LLC, Daniela McKeever, 164 River Park Rd. 28117 6/11/15 CF Design LLC, Carolyn R. Faist, 128 Stonemarker Rd. 28117 6/11/15 Dave’s Tools LLC, David W. Werner, 151 Fairway Dr. 28117 6/11/15 Project-MU USA Inc., Yoshihide Iizuka, 121 Oak Park Dr. 28115 6/11/15 Truckit Freight LLC, Benjamin Allen Huffman, 117 Millers Hollow Ln. 28115 6/11/15 World Class Entertainment LLC, Andrew J. Jensen, 115 Silverspring Pl. 28117 6/12/15 Blinds Management & Sales LLC, Wayne Puckett, 150 Davidson Ridge Ln. 28115 6/12/15 NC Salisbury House LLC, Matthew L. Spring, 124 Wildiris Dr. 28117 6/12/15 Prevette Model Management LLC, The Lake Law Office PLLC, 114 Morlake Dr., Ste. 203 28117 6/12/15 Zoo Riders LLC, Vijaya S. Koppada, 123 Sand Spur Dr. 28117 6/16/15 Agora Equine Inc., Natalie J. Dicosmo, 116 Anderson Farm Ln. 28117 6/16/15 Clean Textile Technology LLC, Jim Hind, 644 Isles of Pines Rd. 28117 6/16/15 J&K Home Dealers LLC, James A. Newcombe, 308 Brook Glen Dr. 28115 6/16/15 Patinella’s LLC, Richard J. Lutzel, 542 Williamson Rd., Ste. A 28117 6/17/15 Cotton Mill Properties LLC, George Bulat, 500 S. Main St. 28115 6/17/15 Fast Pro Media LLC, John Alan Casson, 125 Grand Bay Dr. 28117 6/17/15 Heaven Towing LLC, Notoril Denise McCleave, 199 Kendra Dr. 28117 6/18/15 Lake Norman Paintless Dent Restoration, Michael J. Dearborn, 1827 Charlotte Hwy. 28115 6/18/15 Lakeview Tree Trimming LLC, Eric Shulskie, 326 Beech Tree Rd. 28117 6/18/15 SE1 Enviro Exchange Inc., Kenny Habul, 192 Raceway Dr. 28117 6/18/15 Sinter Source Group Inc., Stewart Davis, 119 Poplar Pointe Dr., Ste. A 28117 6/18/15 Velocity Track Systems LLC, Matt Broughton, 150 River Park Rd. 28117 6/19/15 Family Flags LLC, Jesse Owens, 112 Woodcrest Rd. 28115 6/19/15 Living Waters Farm Inc., Pamela M. Lamberth, 162 Watts Farm Ln. 28115 6/19/15 Ocean Bluff Property Owners Association Inc., Andrew M. Shott, 136 Corporate Park Dr., Ste. B 28117 6/22/15 Suite Holdings LLC, Gary W. Preston, 220 North Main St. 28115

More Mooresville New Corporations online at www.BusinessTodayNC.com

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Business Today

24 July 2015

Hot Properties Q

“I am a Realtor in Lake Norman and we as a profession come across this quite frequently. Many lenders that we work with in real estate do not require borrowers to obtain a survey when purchasing a home. Is this a good idea?”

A

Generally speaking it is usually a good idea to purchase a survey although this should be discussed with your attorney.

The mortgage lender will have title insurance in their policy for matters that would have been disclosed by a survey, even if one is not obtained.

The buyers or borrowers policy specifically excludes title insurance coverage for any matter that would have been revealed by a current survey. Surveys reveal many issues that may affect the buyer’s use of property such as encroachments, setback lines, and boundary line problems. A survey is a worthwhile investment for any purchase of real property and a great picture of what your client is buying.

D. Kevin Joyce VP and State Legal Counsel Master Title Agency, LLC. Contact Patrick M. Jackson President, Master Title Agency 8640 University Executive Park Dr., Charlotte

704-348-2866 www.mastertitleagency.com

No sign of a slow-down in high-end residential market The economy is good enough that even lenders are loosening up. Appetites for mortgages over $500,000 are back at levels not seen since the downturn, and more small banks and investor funds are looking for a piece of the action.

Nationally, home prices were up 4.2 percent from April of last year to April of this year. Charlotte home prices were up 5.6 percent in that same period.

We’re not Denver, where prices are up more than 10 percent in the one-year time period, nor are we Washington, D.C., where prices climbed only 1.1 percent according to S&P Dow Jones.

“Home prices continue to rise across the country, but the pace is not accelerating,” says David M. Blitzer, a managing director S&P Dow Jones.

A recent national survey published by the New York Fed showed the average expected price increase among both owners and renters is 4.1 percent.

Both the current rate of home price increases and the consumers’ expectations are a bit lower than the long term annual price change of 4.9 percent since 1975. The figures, however, do not adjust for inflation. The real, or inflation adjusted, price change since 1975 is one percent per year.

“Given the current inflation rate of under two percent, real home prices today are rising more quickly than is typical,” Blitzer said.

Jumbo mortgages are attracting a lot of portfolio money from small banks, large banks and investor funds, which means more flexibility for buyers in the high end.

“There are new mortgage products hitting the market almost monthly that are targeting the higher end,” says Max Robertson, a senior mortgage banker at NewDominion Bank. “The larger players in this space are aggressively competing by reducing standard down payment terms and are flirting with relaxing credit requirements for folks that can put down more money,” he said.

A stronger economy means things are good in the real estate business.

Sandy McAlpine, an owner/broker at ReMax Executive, says there are now

17606 Westward Reach Road in Cornelius for $2.45 million

51 agents in the lake offices, up from 46 a year ago.

Lake Norman Realty has just brought on nine associates in five Lake Norman offices.

Reed Jackson at Ivester-Jackson Distinctive Properties, with offices in Cornelius and Charlotte, has grown the firm from 35 agents a year ago to 53 today. It is now affiliated with Christie’s International.

S&P/Case-Shiller Home Price Index

In Cornelius

18121 John Connor for $710,000

Continued on Page 25

Source: S&P Dow Jones Indicies and CoreLogic - Data through April 2015

Business Today

July 2015

25

Hot Properties continued from page 24

A 1,900-square foot lakefront home in Cornelius that was in foreclosure has sold for $699,900 after being listed at $710,000 by Tim Mills with The Jamison Group. The house, at 18121 John Connor Road, was on the market for just over two weeks. Sandy Reynolds ReMax Executive at the Lake brought the buyers. Tax records show the house was valued at $893,000 in 2011, and $379,000 in 2003. The house was owned by members of the Connor family, for whom the adjacent Connor Quay neighborhood is named.

A 8,540 square foot home with a wide view of Lake Norman has sold for $2.4 million after being listed at $2.45 million by Dixie Dean in Allen Tate’s Cornelius office. The house, at 17606 Westward Reach Road in The Peninsula, has “dazzling unobstructed” views of Lake Norman, as well as an elevator, a commercial stove and a steam room. Julia Pfeffer of Ivester-Jackson Distinctive Properties represented the buyers.

The tax value of the home is $2.3 million.

million.

A house at 18101 Watercraft Place in The Peninsula has sold for $1.06 million after being listed at $1.1 million three months ago by Dixie Dean of Allen Tate. The waterfront home, with 3,900 square feet, is assessed at $1.06 million. Judy Raghaven with Cottingham Chalk Hayes represented the buyers.

In Davidson

A house at 18340 Woodlands Trail Drive in The Woodlands neighborhood has sold for $685,000 after being listed at $689,900 by Julia Lopez of Ivester Jackson Distinctive Properties. Nancy Venally of Allen Tate represented the buyers. The 3,550 square foot house has coffered, vaulted/beamed and beaded ceilings as well as bluestonepaved covered porches. The chef’s kitchen has custom cabinets with a five-burner range on the center island. The tax value is $633,000

In Concord

100 N. Union St. for $750,000

18611 Peninsula Club Drive in Cornelius for $2.06 million

A French country lakefront home at 18611 Peninsula Club Drive has sold for $2.06 million after being listed at $2.195 million by Lori Jackson of Ivester Jackson Distinctive Properties.

The house, on nearly two-thirds of an acre, has seven designer chandeliers, sunrise and sunset views, an automatic iron gate, a summer kitchen and five or six bedrooms. The 8,000 square foot house was on the market just over nine months. Leslie Fisher of HM Properties represented the buyers of the house, which has a tax value of $1.9

A turn-of-the-century home on treelined Union Street North adjacent to downtown Concord has sold for $750,000. Known as the D.F. Cannon House, the five-bedroom, four-bath home at 100 N. Union was listed by the Love/Morrison Team at ReMax Leading Edge in Concord. Diane Honeycutt of Allen Tate in Concord represented the buyers.

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 the editor, Dave Yochum, at nebiztoday@gmail.com or call 704-895-1335.

Twelve Large Waterfront Lots in Cornelius Located just a mile from Interstate 77 at Exit 28 off Bethel Church Road

From the $600s 704.997.9470

kaneelbay.com

Business Today

26 July 2015

Opinion

Toll lanes and income-based bias The large companies in Lake Norman from the state during the Perdue adminhave been strangely silent on the matter istration.

I also asked Lowe’s director of public of widening I-77 with the help of a publicprivate partnership with a Spanish-based relations in Mooresville for their take and got this: company and tolls.

“Safe and efficient access to Davidson College’s assoour campus for our employciate vice president of comees and visitors is very immunications, technology and portant to us. We are continuoperations gave this official ing to monitor the discussion response: around solutions for I-77.”

The college is currently Editor’s When they have a team studying this project and asNotebook on-site at a Habitat build, you sessing its impact on the camDave Yochum know Lowe’s PR is all over it. pus community.

Separately, Bill Ellison, a You could actually get a four-year degree with a year off in the former partner at The McIntosh Law time that widening I-77 with managed Firm, was on deck to be chairman of the lanes has been the subject of discussion. Lake Norman Chamber next year. He Likewise, MSC Industrial has no pub- stepped aside when he took a job in the lic comment. A senior executive said the legal department at the $56.2 billion (FY company tends to “shy away from giving 2014 sales) home improvement company. positions on topics like this.”

Another explanation, of course, is that “I am sure that we have associates that are on both sides of this issue and would these companies are happy with the curprefer not to weigh in on a company posi- rent situation.

Companies that size have much differtion. We will leave that to the local politicians to vet and figure out. Our main ent agendas than the small local businessconcern and interest is that the local area es whose owners have deep stakes in the continues to provide the necessary in- community. One former chamber chair vestment in infrastructure to support the said the big companies’ income is “based continued growth of our local communi- on national and international trends and ties well into the future,” the executive not affected by the local issues that are critical to most of the chamber members said.

Interestingly enough, the company’s and other local businesses.”

Although I can’t picture this, it’s entireco-headquarters are in Melville, N.Y. The company was founded in New York ly possible that big employers will pay for their employees to use toll lanes so going on 75 years ago.

Is it a case of not having years of his- they can speed to work at a guaranteed tory and an emotional stake in the com- 45 mph.

Another possibility is that the larger munity?

MSC Industrial received $12.75 mil- companies perceive tolls as a done deal lion in economic development incentives and they’re fine with it. If you’re going

to get what you want, why speak up?

There’s no reason.

Perhaps it’s all a matter of where you are coming from, figuratively, not literally. MSC’s top man in Davidson, Doug Jones, pulled down more than $1 million last year in salary, stock awards, option awards, incentive plan compensation and other compensation according to MSC’s proxy statement.

How he gets by on that is beyond me.

One exit north on I-77, Lowe’s CEO Robert A. Niblock’s 2014 salary was $1.28 million, stock awards were valued at $5.81 million, option awards at $4.37 million, non-equity incentive plan compensation was $2.55 million and “all other compensation” was $269,631 for a grand total of $14.28 million last year. All this, according to the company’s proxy.

The round-trip tolls between Lake Norman and Charlotte are expected to cost about $20 during peak travel times. Over the course of 50 years, the drain on the local economy is pegged at $13 billion.

Thankfully, Lake Norman Chamber Chairman Mike Russell is the kind of person who focuses on employees, not all of whom can afford to pay tolls. His day job is chief operating officer of Madvapes, which has 50 hourly employees working in a warehouse in Mooresville.

“We close the warehouse at 4 so they can try and beat the traffic,” Russell says.

The toll lanes will not reduce congestions on the general purpose lanes, but they will reduce congestion for the people who can afford to use them.

That’s why they’re called Lexus Lanes.

“There is an equity issue. This is a regressive tax on our hourly employees,” Russell says.

Book Review: Marketing the Moon: The Selling of the Apollo Lunar Program Marketing and PR experts David Meerman Scott and Richard Jurek’s beautifully produced case history of the selling of America’s Apollo space program is an anecdotal guide to promoting an industry. Scientist Wernher von Braun, a major figure behind Apollo, said, “Without public relations…we would have been unable to do it.” This is a coffee table book, written by marketers rather than journalists, so the telling is sometimes

incomplete, and the goal is less to analyze than to highlight. Still, getAbstract finds that the book is worthwhile and intriguing, as a marketing manual and as a historical record, filled with interesting side stories and photos of artifacts and documents.

Armies of reporters, PR agents, marketing executives, engineers, politicians and bureaucrats worked – more together than not – to attract public support for Apollo. In part, the col-

laboration functioned because the undertaking proved so spectacular that it awed even its greatest critics. Now, the question remains: Who lost the US public’s interest in space travel?

Editor Dave Yochum nebiztoday@gmail.com Sales & Marketing Director Gail Williams gail.todaypubs@gmail.com Business Development Aimee Peer aimee.todaypubs@gmail.com Production Director Stephen Nance, production.todaypubs@gmail.com Contributing Writers Cheryl Kane, Sherre DeMao Dave Friedman, Dave Vieser Cathryn Piccirillo Sherman John Rehkop Phone 704-895-1335 The entirety of this newspaper is copyrighted by Business Today, LLC 2014 with all rights reserved. Reproduction or use without permission of any content is prohibited. Business Today is an Equal Opportunity Employer.

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David Meerman Scott and Richard Jurek. Marketing the Moon: The Selling of the Apollo Lunar Program. MIT Press, 2014. 130 pages. ISBN-13: 9780262026963.

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Business Today

July 2015

27

Op Ed

Point counterpoint:

I-77 toll lanes

By Kurt Naas Now that local governments and businesses have lined up against the I-77 toll lanes, the North Carolina Department of Transportation (NCNAAS DOT) has been offering up three more rationales why they must move forward with this project.

First, we’ve been told it’s “tolls or nothing for 20 years.” That may have been true in 2011, but in 2013 North Carolina passed the Strategic Transportation Initiative with the objective of removing (as much as possible) the politics from transportation funding.

We have always maintained an I-77 general purpose lane project scored on objective criteria would rank high enough to be funded by its merits. Last summer the NCDOT scored four such hypothetical projects. If those projects were in the transportation plan today they would outscore 25 projects that are currently receiving funding within the next 3-10 years. The situation has changed but the reasoning has not.

Second, NCDOT states if they cancelled the contract the taxpayer could incur a $100 million penalty. They have yet to release any analyses supporting that claim. However, assuming that number is correct even with the penalty it actually costs the taxpayer less to cancel the contract and build general purpose lanes. For the private toll lane project taxpayers will be ponying up over $240 million in construction costs and toll subsidies compared to approximately $220 million for a focused general purpose lane project plus the penalty. That does not include $13 billion in projected toll revenues that will be siphoned out of our local economy over the 50 years.

Third, they note the regional planning organization (Charlotte Regional Transportation Planning Organization

or CRTPO) approved the tolling project unanimously. Indeed, in May of 2013 CRTPO did just that. A couple of weeks ago, at their May 2015 meeting, CRTPO could have joined all of the Lake Norman towns in calling for a pause to review the tolling contract.

They did not.

That non-decision was due to the voting structure of CRTPO. Every town sends delegates- but their votes are weighted by population. Charlotte’s vote, in the person of Councilwoman Vi Lyles, counts for 46% of the vote.

Charlotte needs one other delegate to comprise a majority. In this government structure delegates’ first concern is appeasing Charlotte; constituent’s concerns are secondary. Lyles served on the Committee of 21, a Charlottecentric organization that advocated tolling back in 2009. Her position has not evolved despite today’s dramatically different situation.

We now have the specter of a $5 billion government agency holding 150,000 residents hostage by the single vote of a person who neither represents them nor lives in the area, and last addressed the topic in earnest six years ago.

That is not democracy; it is tyranny.

— Kurt Naas is the founder and spokesman for Widen I-77. He is also vice president of Aline Corp., Concord.

By Nick Tennyson The I-77 corridor from Mooresville to Charlotte is among the most congested areas in the state. Whether traveling during the morning drive or eveTennyson ning rush hour, motorists in and around this growing region are familiar with that daily gridlock.

Recently, NCDOT has been called upon to cancel the contract for the I-77 Express Lanes project, a project designed to provide long-term relief to that chronic congestion. While we respect and appreciate the many voices and opinions of this project, it’s important that we address some of those concerns and also look ahead to the opportunity to provide a long-term congestion management solution for this area.

Simply put, the I-77 Express Lanes project is not NCDOT’s project to cancel. This express lanes project was studied by, requested by and unanimously approved by the local planning organization (CRTPO formerly MUMPO). The planning organization continues to support the express lanes project today, and NCDOT is moving forward with construction from the planning organization’s directive.

Like the CRTPO, NCDOT believes this project is the best option for increased mobility and more reliable travel time within the I-77 corridor from Mooresville to Charlotte. At this time, the I-77 Express Lanes project is the only long-term traffic management solution guaranteed to be built – and that project will be delivered and operational in roughly three years. Express lanes give motorists a choice: They can choose to remain in the generalpurpose lanes for free, choose to carpool with three or more people in the vehicle to use the express lanes at no additional charge, or choose to pay the

fee to use the express lanes and travel at least 45 mph.

Despite the increased number of options provided to motorists, some people continue to advocate for contract cancellation so that the state can pursue widening the road with general-purpose lanes. Canceling this project, however, does not automatically convert work to general-purpose lane construction. Under state law, any new project would have to be submitted through the data-driven scoring process that occurs every two years, called the Strategic Mobility Formula. Projects must rank high enough against other projects statewide in order to be eligible for funding. There is no guarantee that any future general-purpose lanes project would be funded through that process.

Additionally, widening I-77 with general-purpose lanes is only a temporary solution to congestion within the corridor. As the region continues to grow, those new general-purpose lanes would soon be clogged once again. The express lanes project and the publicprivate partnership with I-77 Mobility Partners will provide a long-term congestion solution that will provide reliable travel time for many years to come.

Finally, the project provides the opportunity for a multi-million dollar investment into the I-77 north region.

Under the agreement NCDOT is investing $95 million directly into the I-77 Express Lanes project, and an additional $145 million in other transportation projects for a total $240 million investment in the region.

The I-77 Express Lanes Project will provide long-awaited infrastructure improvements to the I-77 corridor. NCDOT looks forward to providing those improvements to the citizens of this region.

— Nick Tennyson is Chief Deputy Secretary for NCDOT

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