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209 Lloyd St
Carrboro, NC, 27510
United States
919.680.2123
Sanford Holshouser LLP: Public Finance, Affordable Housing, Community and Economic Development Lawyers in North Carolina.
In this blog we hope to share our thoughts on issues related to North Carolina local government finance and the practice of law - especially the changing nature of law practice, and how that affects clients and especially solo and small firm lawyers. Thanks for reading! This blog is maintained by Sanford Holshouser LLP in Carrboro, North Carolina.
Most folks want to do what’s best for the environment (whatever they think that might be), and many companies and local governments want to be known for doing good things for the environment. To tap into those environmental sensibilities, we have seen the emergence of a market for buying and selling securities labeled as “Green Bonds.”
Read MoreThere are over 3200 dams in North Carolina, and many of these are owned and maintained by smaller entities that may not have the resources to take care of the dams the way they need to be taken care of. And so after time, an inspection may show that the dam needs repair or replacement. Then, if the affected community doesn’t have (and can’t get) the legal structure or financial resources to rebuild, that community may come to the public entity for help.
Read MoreIt is a bit late to announce that the age of the internet is here to stay. Even now, new uses and capabilities are constantly developed, and as a result society continually faces developing issues regarding its uses. In just the past few years, radical changes in how society works, plays and simply communicates have been remarkable, and we can expect much more. This series of posts will explore the importance of broadband internet service to the development of North Carolina and the increasingly contentious issue of whether municipalities should provide broadband internet service to its citizens.
Read More“I guess I can give you that information -- it’s a matter of public record.” Most of us lawyers who work with local governments have heard this – many of us probably have said it. But just because a piece of information is a public record, that doesn’t mean a lawyer doesn’t still have an obligation to keep that information confidential. The concepts of “public record” and “confidential information” arise under separate rules that really don’t have much to do with one another.
Read MoreThank heavens that loan closing is done!!
A loan closing is a cause for celebration. Whether it’s a big bond issue or a small installment financing, it’s natural to see the closing as a bright dividing line in your process - the money is in the bank, and the rest of the work can proceed.
Read MoreWe’ve all been in meetings like this -- I just didn’t know there was an accepted term for the phenomenon –Imagine a city council meeting with three agenda items: a $100 million power plant zoning approval, a request to build a $10,000 bike rack for city sidewalks and a $100 proposal to buy refreshments for the annual picnic. The power plant discussion takes all of 3 minutes to reach approval, as does the refreshment budget. But the $1000 bike rack debate drags on for hours as council members debate the right materials, the best color scheme and the right way to announce the project.
Read MoreDo you have on your desk an “official statement” that you have to review or help draft? Or do you expect to have one soon? If so, this post will give you some ideas about how to do that effectively. If not – well, we love folks to read all of our posts, but it won’t hurt our feelings if you just bookmark this for when you need it.
Read MoreIt’s time to change things up when it comes to public meetings if we want them to be effective. Our communities have changed and it’s time the way we hold public meetings changed too. As we discussed in this earlier post, residents aren’t coming to the meetings because they aren’t convenient. Making information more accessible and making meetings better experience for everyone are easy ways to make your community engagement more engaging.
Read MoreTo a public finance attorney, the phrase "special obligation bonds" conjures up certain types of projects, usually involving solid waste projects. To the friendly neighborhood bond and CED attorneys, however, the phrase conjures up additional uses in the statutes that may be plumbed by local governments to improve their downtown areas. This post walks through the several additional purposes for which a special obligation bond may be used to stimulate downtown development.
Read MoreWe had read many articles touting the benefits of an organized client feedback process, and so we wanted to go through one ourselves. It worked great – we learned a great deal and we’d highly recommend it – and we thought we would share some of what we learned.
Read MoreMost local government leaders say they want to provide access for all members of the community to voice concerns and opinions about issues affecting the community. Effective community engagement builds on-going, permanent relationships among individuals and interested organizations for the purposes of developing and applying a collective vision for the community’s benefit. Unfortunately, the way many communities actually practice community development works out quite differently. In many communities, community engagement is limited to formal meetings of the governing board and looks something like this, as summarized in a post from the blog Orange Politics:
Read MoreThe film industry can boost your local economy in both the short and long term. Throughout North Carolina, localities large and small have reaped the benefits. And the good news is that a small community does not even have to offer direct financial incentives to reap the benefits of promoting itself as “film friendly.” A municipality merely needs to provide a point of contact and provide community access.
Read MoreEvery county has an industrial authority (whether you know it or not). Most cities and towns will have a housing authority (sometimes whether you know it or not). Did you ever create a nonprofit corporation to facilitate a financing?
Read MoreEarly Days
In the late 1990’s and early 2000’s, Community Development Corporations (CDC’s) were the prime innovators in North Carolina’s urban and rural corridors for revitalization, affordable housing and small retail development. Organizations like Northwest Corridor CDC in Charlotte, Project Homestead in Greensboro and Rocky Mount-Edgecombe CDC were very successful in both housing and small retail development. Metropolitan Housing in Washington, NC excelled in both housing and health services. These organizations demonstrated that nonprofits were ideal vehicles and partners for Community Economic Development (CED) long before the term was coined.
However, after the General Assembly withdrew its formidable support of these organizations and groups like the Rural Center, the Association of CDC’s and the North Carolina Community Development Initiative lost the capital to support these CDC’s, the work has slowed to a trickle. But CED may be the renaissance these groups need.
Read MoreJuly 1 marked the start of a new fiscal year for North Carolina local governments and with that, we began the first fiscal year for which our localities will be subject to Statement 77 from the Governmental Accounting Standards Board, which is entitled Tax Abatement Disclosures.
Read MoreA flare-up over proposed legislation (Senate Bill 554) to increase school leasing projects highlights a scenario playing out all over North Carolina – counties outside the 40-85 crescent face shifting, or declining, school populations, along with older schools in need of substantial renovation or replacement. The legislation is associated with a proposed program to replace and repair schools across Robeson County at a price tag estimated at $1.4 billion, although it would authorize a financing technique that would be available across the state.
Read MoreWondering what to do with that vacant space downtown? Want to spur job growth and boost your local economy? Maybe it’s time for a co-working space. Or an incubator. Perhaps even an accelerator. Not sure which one? Don’t worry, you’re not alone.
Read MoreFor several years the lending and investing community has been expressing concerns about how and when local governments provide disclosure to that community about non-rated government bank loans and other private financings.
Read MoreWhat do we need all this fund balance for, anyway?
As we move into the height of budget season, this question will ring out across the North Carolina -- especially as many local governments re-build fund balance after some years of decline. Why do we keep the taxpayers’ money in the government’s bank account (if in fact, that’s how you view the issue)?
A healthy level of unrestricted fund balance does more than dress up the financial statement and keep the Local Government Commission off your back.
Read MoreTo a public finance attorney, the phrase "special obligation bonds" conjures up certain types of projects, usually involving solid waste projects. To the friendly neighborhood bond and CED attorneys, however, the phrase conjures up additional uses in the statutes that may be plumbed by local governments to improve their downtown areas. This post walks through the several additional purposes for which a special obligation bond may be used to stimulate downtown development.
Read More