Regulatory reform was at the top of the agenda during yesterday‘s visit from North Carolina Senate President Pro Tem Phil Berger and House Speaker Tim Moore. Also in attendance were Senator Dave Craven and Senator Brad Overcash. We also welcomed House Senior Appropriations Chair Jason Saine who is responsible for developing and gaining approval of the State Budget. What were the highlights? The General Assembly members agreed to continue to strategically streamline and simplify the regulatory process aimed at making housing more attainable. They also mentioned their efforts to provide continued regulatory relief, and the expansion of water and sewer capacity through additional funding to aid growing municipalities intelligently handle the influx of people choosing the Charlotte region as their new home.
Several industry leaders at the event brought up the subject of tax abatement strategies in other states, and how it is being successfully utilized to provide workforce and affordable housing, adding solid reasons why we need to explore its benefits more ardently here. Our guests expressed great interest in learning more about that solution and requested additional details. As such, we are enlisting assistance in putting together a presentation on how tax abatement works, specifically when scaled. We will note where it is being successfully utilized and include some examples of projects that have been built using this tool. The next step will be developing a detailed strategy that will include specific policy recommendations for future action at the General Assembly level.
Our Premier Members enjoyed and appreciated the direct access we received from these key members of the House and Senate who took their time to address matters of importance to the industry. We look forward to the next opportunity to check in with this group and we thank them for their continued support and leadership that has resulted, among other things, in North Carolina being the top place to do business in the country.
