Bond referendum in Hickory, NC

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It appears Hickory, NC is in a similar position to Rocky Mount, NC.  Both municipalities say they are looking to spend $40 million. Rocky Mount’s City Council has all but said it will approve the “proposed” Event Center while Hickory is asking citizen input via a bond referendum vote in November.  Is one way better than the other?

Thanks to the September issue of Business North Carolina magazine for bringing this ...

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How Rocky Mount stacks up to other North Carolina Municipalities

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Over the past few months the Rocky Mount City Manager and Council have made some bold proposals that impact our community.  They have proposed building an event center that will cost citizens over $60 million to build and finance while the ten year projected operating loss is $4.3 million.  Most recently they have proposed a 3% to 9% pay raise ...

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How much more can we handle?

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According to the Rocky Mount Telegram we will likely see a 7% increase in our electric and gas bills while sewer charges will increase by 5%.  The City of Rocky Mount is piling on the fees and increases to citizens instead of cutting the budget by the $2.3 ...

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Is it Possible to Make the “Proposed” Event Center Profitable?

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It comes to no surprise that the Rocky Mount City Council votes to proceed with securing funds (including, but not limited to EB-5 and New Market Tax Credits) for funding of the “proposed” event center.

Surprising to the public was a motion by Councilman Tom Rogers, supported by the entire City Council, for a plan to exceed study projections and suggested the “proposed” event center must operate with profit.

The motion made by Rogers:

Initiating the NMTCs and EB-5 application process is the natural, next ...

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What’s up with New Market Tax Credits (NMTC)?

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Has the government cut the New Market Tax Credits by $5 billion?  Is this still a viable option to fund the “proposed” event center?

http://www.cdfifund.gov/news_events/CDFI-2014-07-CDFI_Fund_Amends_2013_2014_NOAA_for_the_NMTC_Program.asp

http://www.dailyprogress.com/newsvirginian/news/local/construction-halted-on-wayne-theatre/article_10e185d0-cce2-11e3-8c88-001a4bcf6878.html

http://www.newsleader.com/article/20140429/NEWS01/304290028/Wayne-Theater-renovations-halted

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Quid pro quo? – Audio of Rocky Mount City Council Meeting – April 28, 2014

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This audio provides great insight into the mindset of the Rocky Mount City Council.  Please take the time to listen to this audio.  Listed below are topic areas mentioned in the Rocky Mount City Council Meeting – April 28, 2014.

01:35 – Public comment

11:35 – Councilman Blackwell begins his comments

20:00 – Councilman Blackwell comments on Holding and Goodman investment

20:40 – Motion by Councilman Blackwell to instruct City Manager to spend pre-development funds for securing ...

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Rocky Mount Telegram Opposes the Proposed Event Center.

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The Rocky Mount Telegram does not “believe an event center is in the best interests of this community at this time.”

To read their editorial please go to: Event center not a good idea at this time

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Proposed Rocky Mount Event Center Financing

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On March 24th, the Rocky Mount City Council Committee of the Whole Meeting consisted of presentations by Davenport & Company, Bridget Chisholm with BWC Consulting and an attorney.  The presentation consisted of four (4) scenarios in a report titled Event Center Financing Discussion Materials.

In addition, please read the AECOM Rocky Mount Event ...

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How will you pay for the Event Center?

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How will you pay for the Event Center?

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Things to Consider with the City of Rocky Mount Proposed Event Center

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We encourage folks to read both the Rocky Mount Event Center Market Feasibility Study by AECOM and Frequently Asked Questions piece published by the City of Rocky Mount.  After reading we encourage folks to consider the positive and negative consequences of  building a facility of this magnitude.  The Community Council has a list of things to consider with ...

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