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New to the area of northern Mecklenburg Country. What is the status of these two projects? In these economic times, what happens if the developers go belly up? Are the taxpayers of Mecklenburg Country stuck with paying off their debt or paying for any unfinished promised road projects?
Langtree at the Lake is in Iredell county I believe, so it won't directly affect the taxpayers in Mecklenburg. I do believe they got some significant financial assistance from the town of Mooresville so they will be left holding the bag if this place falls through. As for the construction of the Freeway exit, Exit 32, that is a NCDOT project and I think there was something about that being built for or with Lowes help. Lowes HQ is right there.
Augustalee will be in Meck if built and I think they have agreed to pay for the traffic upgrades including new road lanes as part of the project. I think they might also be looking for some local help, but I don't know where that stands. It would seem to me this project might not get built given the state of the current economy. There is absolutely no construction activity taking place there of any kind and they were supposed to start construction this year.
In NC, counties are not allowed to pay for road construction. All highway construction is handled by the NCDOT and cities are allowed to have control of residential streets but they generally don't have a specific source of funding. This means that most residential streets are built by a developer then eventually they are turned over to the city for upkeep. There are some exceptions to this as the NC Legislature from time to time will grant a city the right to sell bonds to build or expand roads, but generally the NCDOT owns it all.
Augustalee is moving forward, although the approval process is taking longer than expected. Developers now expect to start construction in 2010. To keep up to date, sign up for the free email newsletter at [url=http://www.augustalee.com]Augustalee - Historic New Name For The Village At Lake Norman[/url]
Augustalee is moving forward, although the approval process is taking longer than expected. Developers now expect to start construction in 2010. To keep up to date, sign up for the free email newsletter at Augustalee - Historic New Name For The Village At Lake Norman
Public profile states, "President of leading Charlotte marketing firm." Are you the marketing firm for Augustalee?
In addition, two giant development projects in the same areas are thrieving. They are Antiquity and Robbins Park.
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