Cornelius Bromont Completes Purchase Of Property For The Village At Lake Norman

Cornelius Bromont, LLC, Completes Purchase
Of Property For The Village At Lake Norman

For Immediate Release May 19, 2008

CORNELIUS, NC - Cornelius Bromont, LLC has completed the purchase of
104 acres in Cornelius and Mecklenburg County, to be the future site of
the Village of Lake Norman. The project is part of an overall mixed
use development that involves construction of office, residential,
retail and hotel facilities.

In addition the developers plan to construct about $80 million in
roadway improvements, including the widening of I-77, a new Exit 27 at
Westmoreland Road, widening of U.S. 21, a new flyover bridge taking the
realigned Bailey Road across I-77, additional roadway construction west
of the interstate, intersection and signal improvements, and more. The
roadway improvements require further approvals by local, state and
federal highway officials, which are currently being pursued by the
developers and their team.

On-site construction will include retail space, Class A office space, a
250-room full service hotel with banquet facilities and a 100-room
boutique hotel, as well as high-end residences above retail.

Cornelius Bromont has partnered with the BUILD Fund of America to
provide mezzanine financing for the project and Fifth Third as an
additional lender. The amount of the purchase was not announced.

"We are very pleased to have passed this important milestone," said
Josh Rector, project manager and Senior Vice President for Cornelius
Bromont. "We are now proceeding to complete the engineering and
architectural plans, and most importantly the necessary transportation
improvement approvals. Members of our team are also talking with
several potential tenants. We hope to begin physical construction by
the end of 2009."

"This is such a great opportunity for the North Carolina building
trades," said Tim Nichols, Director of Marketing at Labor-Management
Fund Advisors, LLC, the real estate advisor to the BUILD Fund of
America. "The Village at Lake Norman is just one example of how the
BUILD Fund of America invests back into the jurisdictions from where it
receives funding. Not only is this a great opportunity for union
members in the area to invest in such a lucrative project, but they and
their families will also be able to patronize and enjoy the Village at
Lake Norman for many years to come."

About Cornelius Bromont, LLC

Cornelius Bromont, LLC, is a partnership of Bromont Investments of
Scottsdale, AZ, and Carlsen Douglas Development of Huntersville, NC.
Both firms have over 30 years experience in real estate and commercial
development. Bromont has won national awards for the design and quality
of its buildings. More information on Cornelius Bromont is available at

http://www.corneliusbromont.com.

About the BUILD Fund of America

The Building Union Investment and Local Development ("BUILD") Fund of
America is a commingled real estate fund that provides pension funds
the opportunity to diversify their existing stock and bond portfolios
with to-be-built institutional quality real estate projects located in
their jurisdictions. The mission of the BUILD Fund of America is to
earn competitive market-driven returns by investing in to-be-built or
significantly rehabilitated real estate projects that increase market
share for union labor and signatory contractors. The BUILD Fund of
America, which includes investments by U.S. labor union members,
requires that union labor be used to construct the project. Therefore,
this project is expected to create a significant amount of jobs for
union labor and contractors. Details at www.LMFA.com.

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Media Contact: Buck Lawrimore, Lawrimore Communications Inc.,
704-332-4344,
http://www.lciweb.com

Robotic Comedienne Takes More Stoic Role in Shakespeare Classic

CHARLOTTE – Meghan Lowther, cast member with Robot Johnson
(www.robotjohnson.com), has been cast in the role of Benvolio in
Shakespeare on the Green's production of Romeo and Juliet. The
tragicomic turn is nothing new for this comedienne, who's been featured
in plays like The House of Yes, Five Women Wearing the Same Dress and
The Expanding Sky with companies like BareBones Theatre Group and
Chickspeare.

Romeo and Juliet will play June 5 – 27 at The Green Uptown, located
adjacent to Three Wachovia Center. For more information please visit

www.collaborativeartstheatre.com.

Robot Johnson is Charlotte's premier sketch comedy troupe, giving the
Queen City good humor by bad people. Shows are on Friday and Saturday
nights at 8:00 and 10:00 pm starting May 16th at the Duke Power
Theatre, part of the Blumenthal Performing Arts Center. For more
information, please visit www.robotjohnson.com or call 704-640-ROJO
(7656).

N.C. Business Leader Launches Fishing Lodge in Patagonia

'Patagonia Fishing Hosts' Launched In Argentinian
Fisherman's Paradise By N.C. Business Leader and Local Guides
For Immediate Release May 2008

The Andes-backed rivers and lakes around Cholila in the Patagonia area
of Argentina are considered by experienced fly-fishing insiders to be
the angling paradise of the Western Hemisphere.
In Cholila decades ago, Butch Cassidy and the Sundance Kid escaped to
a rural shack, far away from the reaches of U.S. lawmen. Today
fly-fishing enthusiasts from the U.S. and northern Latin America escape
the pressures of the urban world and stay in a few remote lodges like
the one recently opened by a North Carolina retired business executive
and Patagonia fishing guides.
They call their operation Patagonia Fishing Hosts
(http://www.patagoniafishinghosts.com) and their lodge the Carrileufu
Valley Lodge.
"This gives people the chance to experience first-hand the legendary
Patagonian fly fishing dreams," said founder John B. Bell Jr., an
experienced angler, retired CEO of John Boyle & Co. in Statesville, NC,
with numerous business interests worldwide. "With crystal-clear lakes
and flowing rivers surrounded by the beautiful Andes mountains, the
area around Cholila looks a lot like Montana 70 years ago – beautiful,
natural and unspoiled. And the fish are abundant in these waters which
are just minutes from our lodge."
Bell is a longtime member and supporter of both Trout Unlimited and
the Federation of Fly Fishers, who have endorsed his enterprise. "This
is the essence of great, great fly fishing," he declares
enthusiastically. "Always catch and release. World class guides, new
equipment, lots of smart and hungry trout, streamside 'gaucho lunches,'
plus fine dining and wine, Argentine style, at the end of each
rewarding day."
Carrileufu Valley Lodge is a rustic, fully furnished retreat that
accommodates a maximum of 10 guests at a time to ensure a high level of
personal service. It has five double rooms each with a private bath, a
full kitchen, an authentic Patagonian chef, a fireside gathering room,
and many other amenities.
"This is truly a fisherman's lodge," Bell said, "patterned after some
of the best in Montana, Wyoming and Quebec, although thoroughly
Argentine at heart. Fishing activities include overnight float trips,
spring creeks, plus a great selection of lakes and rivers. Trout
species include book, brown, rainbow and landlock salmon.
"Carrileufu Valley Lodge offers a unique location that greatly reduces
travel time from the lodge to select fishing water," Bell noted. "You
will see lots of fish and wildlife in this area but very few people
besides your fishing group.
"Cholila is easily accessible by air and vehicle, usually flying
through Buenos Aires to Bariloche or Esquel. And as a convenience for
our guests, we offer transportation from the airport to the lodge,
including beautiful scenery along the way."
A number of avid U.S. fly fishermen fish in Montana and other northern
areas in May through September, then move down to Patagonia to fish in
its warm months, November through April, Bell explained. "Our new lodge
helps create an endless season for North American and European fly
fishermen."
Patagonia Fishing Hosts is managed in Cholila by Pancho Panzer, an
experienced, college-educated Patagonian fly-fishing guide, who is
fluent in English. Panzer's team, all bilingual, includes other
professional guides, skilled cooks, and a full maintenance staff.
A typical Patagonia Fishing Hosts package includes six fishing days
and seven nights of lodging, for about $4,000 dollars US each person,
sharing a room with another fisherman, and sharing a guide. Air travel
is additional. Guests can request individual rooms and guides for
additional cost.
Cholila has a romantic history. Butch Cassidy and the Sundance Kid
escaped U.S. law enforcement by living there for years in the early
1900s – until their ill-gotten money started running low and they had
to return to "work," robbing more banks. Some believe they were killed
in a shoot-out, and others believe they escaped and lived to a ripe old
age. Their cabin is 20 miles away from the Carrileufu Valley Lodge.
Other area attractions include:
- Museum "LeLeque Estancia," about one hour driving distance from the
lodge, featuring artifacts and information about Patagonia history
- The old Patagonia Express train, which rides a very narrow track
through the mountainous country, powered by a smoke-blowing steam
engine
- El Bolson's famous artisans fair an hour away
- Bird watching for beautiful flamingos and condors
- Horseback riding and hiking in the many trails around the area
"A trip to Patagonia is a total experience," Bell concluded. "Absorb
the culture, the food, the friendly people, and their beautiful country
and, of course lots and lots of great fishing."
For more information, visit http://www.patagoniafishinghosts.com or
call Pancho Panzer at 0054-2945-1553332.
----------------####---------------
Editors: Attached is a photo of Carrileufu Valley Lodge.
For more information and additional high-res photos of Patagonia
fishing,
contact PR Representative Buck Lawrimore,
Lawrimore Inc., Charlotte NC, 704-332-4344, http://www.lciweb.com

Charlotte Firm Launches Online Ebook Store Ebookloads.com

Lawrimore Launches Online Ebook Store Ebookloads.com
May 14, 2008

CHARLOTTE, N.C. – Charlotte marketing firm Lawrimore Communications
Inc. has launched a new online ebook store, Ebookloads.com, selling
low-cost ebooks on a wide variety of topics. Ebook authors are also
invited to submit their works.
"Ebooks are in great demand because they allow people who are
searching for information to download them immediately, versus waiting
several days for the books to arrive by mail or express," said
Lawrimore Communications president Buck Lawrimore.
"As the author of several ebooks sold on different websites, I wanted
one central location to sell my ebooks as well as those of others.
We've also started adding ebooks written by several freelance writers
we know, and welcome submissions by other writers, even if they have
written only one ebook."
Ebookloads.com, on the web at http://www.ebookloads.com, features over
100 ebooks in categories such as Business & Strategy, Foods and Drinks
(including cookbooks), Health, Internet Marketing, Web Developing,
Money Making, Occasion, Blogging and more. Other categories will be
added depending on what authors submit. Visitors to the site can also
download several free ebooks, available at the bottom of different
pages on the site.
Lawrimore Communications Inc., online at http://www.lciweb.com, is a
full-service Charlotte marketing and strategic consulting firm founded
in 1979. Buck Lawrimore is the author of ebooks about "Marketing
Strategy" available on the company website; "Dynamic Strategic
Planning" at http://www.strategic-planning-processes.com ; and several
others.
For more information, email ebooks (at) ebookloads.com.

Town of Cornelius Approves Rezoning For The Village at Lake Norman

Town of Cornelius Approves Rezoning For The Village at Lake Norman
For Immediate Release 4/24/08

CORNELIUS, NC – The Cornelius Town Board Wednesday night (April 23)
approved detailed plans for the $516-million Village at Lake Norman,
the largest real estate development in the community's history.
The 104-acre project would include 1.4 million square feet of Class A
office, restaurants and retail, along with two hotels and 400 luxury
condominium residences. The project will be built over a
six-to-12-year period depending on market demand. It will be located at
a new Exit 27 to be constructed by the developer at Westmoreland Road
and I-77.
The decision followed a series of seven Town Board meetings, often
running to almost midnight, to hear evidence from various experts and
citizen viewpoints.
"We are very pleased that we have at last been granted this crucial
approval from the Town of Cornelius to help bring a truly great vision
for this region to reality," said Josh Rector, project manager and
Senior Vice President for the developer, Cornelius Bromont, LLC. "This
comes after two years of meetings with Town staff, the planning board,
and many community residents to help shape our project into a virtually
ideal solution for all concerned. We also hired and invested
substantially in the intensive work of a design team including leading
architecture, land planning and transportation engineering firms in the
region. We deeply appreciate all the time and extra effort which all
these great people have contributed to making this project a landmark
success.
"We still have quite a few hurdles to cross," Rector added, "including
approvals from Mecklenburg County, Metropolitan Planning Organization,
North Carolina Department of Transportation, Federal Highway
Administration and others. But the rezoning and approval by the Town is
the most important initial step in this process."
Cornelius Mayor Jeff Tarte said the project "is going to address the
top four strategic priorities agreed on by the Town Board, the Planning
Board, staff and others:
• "It will create a vehicle to address our traffic problems using NCDOT
support."
• "It will widen I-77, which has the most congestion and use in our
area."
• "It expands our tax base so we have more commercial property
generating taxes."
• "And fourth – the 'magic ingredient' – it will not increase our tax
rate."
"Look at what the town of Lenoir gave to Google to get a handful of
jobs," Tarte added. "We're getting 4500 jobs and the developer is
generating the money to make it all possible."
In addition to building a large commercial project that will generate
millions of dollars of new tax revenues for the Town and County,
developers have promised to also provide:
• $35.2 million for widening I-77 to three lanes in each direction,
from south of Exit 23 in Huntersville, all the way to Exit 28, the
current Cornelius exit
• $54.8 million for widening US Highway 21 and Westmoreland Road to
four lanes plus a landscaped median/turn lane for several miles; and
numerous other roadway, intersection and traffic signal improvements.
• Investing approximately $10 million to purchase several parcels east
of US Highway 21 that would allow realigning Bailey Road to "straighten
out the curve" as the Town has long desired. Bailey Road would then
cross the Village property, then cross over I-77 via a new Bailey Road
flyover bridge also provided by the developer.
• Acquiring land on the western end of the new bridge and building a
roadway to link with the western side of Westmoreland Road via Eagle
Ridge Way Lane. Both Bailey Road extensions would provide improved
east-west connectivity in southern Cornelius on both sides of I-77.
• Donating approximately two acres of land along the new eastern side
of Bailey Road for a new fire station, and an additional contribution
to Habitat for Humanity.
• Paying for design and engineering fees for the new fire station.
• Giving the town $1.3 million to purchase new fire equipment or any
other items it needs to offset increased costs of serving the new
project.
• Including a police substation within the Village.
• Grading and seeding four baseball fields at the Westmoreland Athletic
Complex.
• Public park areas, amphitheater, Village Green and other amenities.
The financing for most of the roadway improvements would come from a
combination of a Synthetic TIF (tax increment financing) and
Mecklenburg County COPS bonds (Certificates of Participation), based on
new property tax revenues generated by the Village project alone.
Details of the financial arrangements have yet to be worked out between
the Town of Cornelius, Mecklenburg County, and the developer. Those
details will later be presented to the Town Board for review and
approval pending any needed modifications.
"We believe strongly in the exciting potential of the Cornelius-Lake
Norman area," Rector said. "This is why we are willing to go to great
lengths to meet all the Town's conditions and provide as many
improvements as are financially feasible."
Cornelius Bromont, LLC, is a partnership of Bromont Investments of
Scottsdale, AZ, and Carlsen Douglas Development of Huntersville, NC.
Design team members include Bartlett Associates MegaStrategies as
architects, ColeJenest & Stone land planners and designers, Kimley-Horn
& Associates transportation engineers, and Charles MacLean of CCM3
Architects, designer of many Bromont projects for three decades.
For more information about the Village at Lake Norman, visit

www.corneliusbromont.com.
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(Media Contact: Buck Lawrimore, Lawrimore Communications Inc.,
704-332-4344,
http://www.lciweb.com)

Online Petition Created For Supporters Of The Village At Lake Norman

Online Petition Created For Supporters
Of The Village At Lake Norman
For Immediate Release

CORNELIUS, NC – Developers of The Village at Lake Norman in Cornelius
have created an online petition to allow supporters of the project to
demonstrate their support conveniently and quickly.
The online petition was an outgrowth of a survey of approximately 150
people who have signed up to receive an email newsletter or left
comments at the project website, www.CorneliusBromont.com.

"The vast majority of survey respondents said they would be glad to
support a petition in favor of the Village at Lake Norman," said Josh
Rector, project manager for Cornelius Bromont, LLC. "In today's
Internet-oriented world, an online survey is an ideal way to allow them
to do this. We are using the Internet's most established online
petition website, so anyone with Internet access can sign the petition
in a matter of seconds. We encourage anyone in the Charlotte-Lake
Norman area who would like to see the Village approved and developed,
to sign our petition as soon as possible."
The online petition is located at

http://www.PetitionOnline.com/VLN2008/petition.html

It states: "We hereby petition the Cornelius (NC) Town Board to
approve plans for the Village at Lake Norman as submitted by Cornelius
Bromont, LLC. We believe this will be a beneficial asset for our
community."
The Village at Lake Norman is planned as a $516-million mixed-use
community on 102 acres south of Westmoreland Road in Cornelius. It
would include office, residential, retail, hotel, restaurant,
entertainment, and walking trail – outdoor park uses. Developers have
also offered to widen I-77, U.S. 21 and other local roads using a
portion of the new property taxes generated by this project alone.
Details available at www.CorneliusBromont.com.

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(Media Contact: Buck Lawrimore, 704-332-4344, Buck (at) Lciweb.com)

Lawrimore Produces New Optimized Website for Mint Condition Inc.

Lawrimore Produces New Optimized Website for Mint Condition Inc.
For Immediate Release

CHARLOTTE, NC – Lawrimore Communications Inc. of Charlotte has
produced a new search-engine-optimized website for Mint Condition Inc.
(http://www.mintconditioninc.com) to help strengthen its growing
national building cleaning franchise program.
Mint Condition began in Charlotte in 1996 and is now located in Fort
Mill, S.C. The company has a unique two-level franchising operation
that has helped it grow nationwide. Master franchisees buy market
territories, then recruit cleaning franchisees, which are typically
small, family-owned operations that do the actual cleaning of office
and other business buildings. The master franchisees are responsible
for finding building owners and managers who need janitorial services,
then match up the customers with the cleaning franchisees.
"Our model is unique in the industry, and is one we developed to meet
our own needs of growing our business beyond the Charlotte market a few
years ago," said Company President Jack Saumby. "Because our cleaning
franchisees have their own small businesses, they have a vested
interest in the satisfaction of our customers, and typically enjoy
long-term relationships with them. By contrast companies which hire
hourly workers to clean buildings usually experience very high
turn-over, which in turn diminishes expertise and service quality."
"We designed mintconditoninc.com to be totally search-engine-optimized
from the ground up," said Buck Lawrimore, president of Lawrimore
Communications (http://www.Lawrimore.com), a Charlotte marketing and
website design firm. "We researched the terms that all three target
audiences – potential master franchisees, potential customers, and
potential cleaning franchisees – are searching for online. Then we
built separate sections of the website to address the special interests
of each audience. This not only saves time and enhances the experience
for different website users, it also improves search engine rankings to
generate more free traffic to the website."
Mint Condition currently has master franchises in the Philadelphia
area, East Pennsylvania around Allentown, Southern New Jersey,
Raleigh-Durham, and all of Georgia. It is seeking to grow nationwide.
Lawrimore Communications, founded in 1979, provides marketing,
communications, web design, and strategic consulting services to
business, government and nonprofit organizations primarily in the
Charlotte Region. It also partners with specialists worldwide to
provide a full range of cost-effective search engine optimization
services.
---###---
(Media Contact: Buck Lawrimore, Buck (at) Lciweb.com, 704-332-4344)

FranNet Announces Seminar Series on Franchise Ownership

CHARLOTTE – Well-known franchise consultant and president of FranNet
Carolina, Michael Hall, will be presenting a no-charge seminar on
Franchise Ownership on Tuesday, March 18, 2008 from 6:30 p.m. to 9:30
p.m. at the Hilton Garden Inn Raleigh-Durham Airport and Wednesday
March 19, same times, at the Hilton Charlotte Executive Park.

This seminar is aimed at answering questions of would-be entrepreneurs
who are considering business ownership through franchising. An overview
of the franchise industry will be followed by a frank discussion of
franchising questions:
•      Is franchise ownership the right career path?
•      How to minimize risks?
•      What are the advantages of owning a franchise?
•      What do they cost?
•      How to make a safe and affordable decision regarding the right
franchise to purchase.

"Realizing your dream of starting a business requires a lot of hard
work and due diligence," says Hall. "This seminar is just one way
aspiring business owners can learn about all of the advantages and
benefits of owning a franchise."

Some of the fastest-growing and popular franchise companies seeking
owners in the greater Raleigh and Charlotte areas will be explaining
their programs at the seminar.

"When it comes to franchising, Michael Hall brings extensive knowledge
and experience to the table," says Jenifer Sanders-Smith of Whitman
Administrative Services. "I look forward to Mike's seminar – I expect
it to be an exceptional learning opportunity."

FranNet - 'The Franchise Connection', is a franchise sales and
consulting firm with offices in Charlotte and Raleigh that specializes
in matching potential business owners with franchise companies that
meet their personal and career goals. Many of these candidates are
corporate executives looking for new career challenges or professional
alternatives. Some are current business owners seeking, new business
opportunities.

Michael Hall advises clients on how to search for and evaluate
franchise opportunities and is responsible for placing many new
franchise owners throughout North and South Carolina. He is also a
frequent lecturer on franchising and small business ownership and
conducts public seminars on a regular basis. For more information visit

www.frannetcarolina.com, email mhall@frannet.com or call 704.522.9394

 
 
 

Attorney Explains Proposed Village at Lake Norman Infrastructure Financing to Cornelius Town Board

Attorney Explains Proposed Village at Lake Norman Infrastructure
Financing to Cornelius Town Board Monday Night
For Immediate Release March 4, 2008

CORNELIUS, NC – Financing plans for widening I-77 and other needed
roadway infrastructure benefiting the Town of Cornelius and the Lake
Norman Region were explained to Cornelius Town Board members Monday
night (March 3) by David Jones, an attorney for the developer of the
Village at Lake Norman, Cornelius Bromont, LLC.
Jones, who is experienced in the public financing of real estate
infrastructure projects, pointed out that all infrastructure
improvements proposed by Cornelius Bromont are to be financed using new
property taxes generated by this project alone, over a period ending
about 22 years after the proposed buildings are completed.
Jones, a partner with the Charlotte law firm of Kennedy, Covington,
Lobdell and Hickman, explained, "The principal benefits of our proposal
are:
-"The Town of Cornelius gets much-needed road infrastructure.
-"The entire region gets a widened I-77 corridor between Exits 23 and
28 nearly a decade sooner than otherwise likely.
-"The source of funding is new incremental tax revenue generated
solely by the Village.
-"If new incremental taxes are insufficient, the risk is borne by the
developer.
-"The Town incurs no debt. The Town will have no legal obligation to
make any payment from any source other than new incremental taxes
generated solely by the Village."
Jones noted that the current tax value of the Village property in its
undeveloped state is $5,506,774. At current tax rates, this property
generates a combined total of $61,329 per year in Town and county
property taxes.
Cornelius Bromont commissioned Economics Research Associates (ERA), a
nationally noted independent research firm, to do an analysis of the
economic impact of the Village in its fully developed state. "ERA has
done a number of similar studies over the years and has been engaged by
Mecklenburg County to do similar analyses for other projects," Jones
said.
Based on the developer's plans for the buildings on the Village site,
ERA projects that, upon completion, the total value for property tax
purposes will be $515,594,575. "This is nearly 100 times the current
assessed value," Jones observed. "The developer expects to achieve this
full build-out by 2016."
He then added, "As the proposed new development results in a nearly
100-fold increase in assessed value, it follows that the taxes
generated will increase nearly 100 times as well, to approximately
$5,742,177 annually for the County and Town. The financing we are
proposing uses this newly generated property tax revenue to fund the
costs of the road improvements the Town and region needs now."
Jones said, "The developer will borrow the funds needed to pay for the
construction and then use the new property tax revenues to repay the
loan." He recommends dividing the roadway improvements into two
categories: I-77 widening, a regionally significant benefit; and "local
road improvements" such as Highway 21, the Westmoreland interchange,
Westmoreland Road widening and many other locally significant
improvements.
"In our view, the County and State need to take responsibility for the
I-77 widening," Jones told the Town Board. "The interstate highway
system is a responsibility of the State to fund. In other parts of this
zoning case, the point has been made that due to the region's
non-compliance with federal air quality standards, this region will
begin to lose federal highway dollars in 2020" unless necessary
improvements such as widening I-77 are made by that time.
The widening of I-77 is needed to reduce "car-idling times" and
thereby improve local air quality, Jones said. "This project is on the
TIP (Transportation Improvement Program) for completion in 2020, but no
funds have been appropriated."
Because of the federal air quality requirements, "the financing of the
I-77 widening ought to involve the County and State," Jones said.
The development team proposes that the County should finance the
initial construction costs of the I-77 widening, currently estimated by
Whiting-Turner and Kimley-Horn Associates at $23.7 million, through the
issuance of bonds known as Certificates of Participation (COPs) in 2009
or 2010. The County already issues COPs annually to find a variety of
public projects. "The County would make the proceeds of the bonds
available to the developer, as needed to pay for the I-77 widening
costs," Jones said. "All payments… would be monitored and approved by
the County to insure that the funds are being properly spent on roadway
improvements."
The development team proposes that "the State fulfill its obligation
by agreeing to repay the County's COPs debt in full in 2020. This
amount, approximately $23.7 million, "allows the State to fulfill its
obligations today, in today's dollars, but not pay for it until 2020,
when the costs would likely be double or triple this estimate. This is
basically a layaway plan for the State: get the improvements now with
no money down and pay for them later at today's costs."
Funding of the costs to improve Highway 21, Westmoreland Road, a new
Bailey Road flyover bridge and other "local roads", currently estimated
to total $56.2 million, would be financed by the developer, with money
borrowed privately or from other sources obtained by the developer.
These costs would be reimbursed to the developer using the new property
taxes generated by the Village, he explained.
Those new property taxes would be allocated based on a "waterfall" of
uses, with highest priorities first.
-First would be $61,329 to the County and Town. This is the amount
currently being collected in property taxes.
-Second would be payments estimated at $1,681,573 to Mecklenburg
County for the debt service on the COPs bonds.
-Third, 25 percent of the new tax revenue to the County and Town,
estimated at $1,435,544 per year, to cover expenses associated with the
new development, such as police, fire service, etc.
-Fourth, the remaining 45 percent of the new tax revenue to reimburse
the developer for the costs of local road improvements. This would be
about $2,563,671 a year, thus taking about 22 years to repay the full
costs of $56.2 million for local road improvements.
"It's important to note that this would be the last 45 percent in the
priority list," Jones said. "So if the development is only slightly
more than half as successful as anticipated, all payments to the County
and Town are fully funded."
Jones pointed out that this proposal:
-"Doesn't use any current tax revenue of the Town or County.
-"Doesn't seek any of the substantial sales tax or hotel/restaurant
taxes to be generated by the Village.
-"Doesn't create any Town debt.
-"Doesn't provide for any payment to the developer until after the
Town and the County get all payments due to them."
In conclusion, Jones said, "the financing proposal for the road
infrastructure improvements has been designed to keep all financial
risks squarely on the developer."
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[Media contact: Buck Lawrimore, 704-332-4344, Buck (at) Lciweb.com]

ClubFurniture.com Launches New Line of Area Rugs

ClubFurniture.com Launches New Line of Area Rugs
For Immediate Release

CHARLOTTE, NC - ClubFurniture.com, a leading online retailer of home
furniture and accessories, has launched a new line of area rugs to
complement its other high-quality furniture products.
"Our new line of area rugs is a natural fit with our extensive array
of upholstered and wood furniture," said Jeff King, Vice President Of
Marketing. "Our customers have been asking for area rugs, and offering
them strengthens our position as a one-stop, full-service home
furnishings retailer."
Most of the area rugs are made in Asia, both by hand and machine, and
come in a wide array of styles and colors. Currently ClubFurniture.com
has 25-30 styles in each of three main categories or "showrooms" –
traditional, transitional and contemporary.
Sizes range from 42 X 66 inches, to 9 X 12 feet, and prices from $100
to $2,500. Most are 100 percent wool, and others are polypropylene or
other synthetics. More area rug details can be found at

http://www.clubfurniture.com/arearugs.html.

"There's a saying among interior decorators, that the most economical
way to change a room's décor on a budget is with a can of paint and a
new area rug," King said. "So for folks on a budget, this gives them a
great opportunity for an inexpensive new look."
ClubFurniture.com was founded in 1997 by brothers Darrin and Jeff
King, selling furniture direct to consumers. As demand grew, they
established relationships with leading furniture manufacturers,
launched their own e-commerce website, and have provided products to
thousands of customers nationwide for more than 10 years.
"We're family owned and provide very personalized service to all our
customers," Darrin King, President said. "This high level of customer
service combined with our unmatched product selection leads to a high
level of customer satisfaction, which is extremely important to us."
For more information, visit http://www.clubfurniture.com or call
1-888-378-8383.