|
MEETINGS &
EVENTS
|
|
NCAR
Property
Management
Seminar: On June
4, 2009 join
fellow
REALTORS®
for the NCAR
Property
Management
Division's
Spring
Seminar.
This event
is taking
place at the
Coastline
Convention
Center (501
Nutt Street)
from
10:00am-2:45pm
and is free
for PMD
members,
non-PMD
members cost
is $20.
Registration
includes
lunch and
featured
speakers are
Will Martin,
NCAR General
Counsel, and
Jean
Wolinski-Hobbs,
Information
Officer with
the North
Carolina
Real Estate
Commission.
NC REALTOR®
members can
register by
logging into
www.ncrealtors.org
and clicking
on "Events &
Calendar",
non-members
can print
out a form
by
clicking
here.
Local Government 2009 Meeting Schedules:
New Hanover
County,
Pender
County,
City of
Wilmington,
Wrightsville
Beach, Kure
Beach,
Carolina
Beach.
|
|
COASTAL INSURANCE UPDATE
|
|
Important
Coastal
Insurance
Update May
21, 2009
Please take
a moment to
read a very
crucial letter
from
Attorney
Keith Kapp
(attorney
for the
coastal
counties in
the lawsuit
against the
Department
of
Insurance)
to
Commissioner
Wayne
Goodwin.
To
summarize:
The
letter:
-
States that the
decision
made by
the DOI
to raise
coastal
insurance
rates
was made
without
public
hearings.
-
Requests the
DOI hold
public
hearings
on
homeowners'
insurance
rates.
-
States that the
Agreement
between
the DOI
and the
Rate
Bureau
to raise
the
rates in
the
coastal
counties
was
excessive
and
unfairly
discriminatory
towards
the
residents
of
eastern
North
Carolina.
-
States that,
according
to the
DOI, the
rate
increases
were
ordered
in part
to cover
"rising
construction
and
repair
costs"
despite
the
overwhelming
evidence
that
construction
costs
actually
declined
sharply.
-
States that the
DOI
improperly
and
unlawfully
relied
upon
computer
modeling
to
support
the rate
increases
with no
validation
or
actuarial
analysis
to
support
the
models.
-
States that the
residents
of
eastern
North
Carolina
did
not
receive
notice
of the
requested
rate
increases
until
after
the
decision
to
increase
rates
was
made.
Most
importantly,
the letter
states that
the
residents of
North
Carolina
want the
right to be
heard and
present
evidence to
support a
rate
decrease.
The letter
also
contains
evidence to
prove that
the decision
to raise
rates in
eastern
North
Carolina was
excessive
and unfairly
discriminatory.
Click here
to read the
letter.
Click here
to see the
Territory
map
designating
the "beach
areas" from
the "coastal
areas" and
click here
to see the
Rate
Revision
Chart
reflecting
the overall
homeowner
rate
changes.
Wake County Judge denies motion requesting Stay on homeowner
insurance
rate
increases.
On April 16, 2009
DOI Hearing
Officer
William Hale
denied the
Petitioners'
(Dare County
et. al.)
Motions
regarding
the decision
pertaining
to the Rate
Bureau's
homeowner
insurance
rate
increases
due to take
effect on
May 1, 2009.
The
Order states
that the
Petitioners'
Motion to
Intervene,
Request for
Hearing,
Request for
Reconsideration
and Motion
to Stay are
denied and
dismissed
for lack of
subject
matter
jurisdiction
and because
the
Petitioner's
also failed
to state a
claim upon
which relief
may be
granted.
Next
step-Superior
Court again.
Click here
to read a
copy of the
Order.
Also, on
April 16,
2009,
the News and
Observer
reported
that the DOI
is appealing
the Order by
Superior
Court Judge
Pittman
dated March
20, 2009.
The Order
was in
regard to
the February
1, 2009
increases.
Click here
to read the
article.
On April 15, 2009
the Beach
Plan posted
the
following on
their
website:
Pending
final
resolution
of the legal
challenge,
the Beach
and FAIR
Plans are
proceeding
to implement
a roll back
of the
deductibles
and
surcharges
to the
levels that
existed
prior to the
effective
date of the
Commissioner's
approval of
these
changes.
Staff is
working with
the
Department
of Insurance
to
accomplish
this roll
back
promptly and
fairly, and
will
correspond
with those
Beach and
FAIR Plan
insureds
affected by
the roll
back to
explain and
implement
all premium,
deductible
and claims
adjustments
that are
required.
This
roll back
does
not apply to
the North
Carolina
Rate
Bureau's
homeowners
rate
revision,
which is to
take effect
May 1, 2009.
On April 13, 2009,
Representatives
Spear (Dare)
and
Wainwright
(Craven)
introduced
HB 1439-a
bill to
increase
public
participation
and input
into the
setting of
insurance
rates in NC.
Click here to read a brief explanation of the bill.
Click here to read HB 1439.
On Tuesday April 7, 2009, an
administrative
hearing was
held at the
Department
of Insurance
(DOI)
regarding
the
December 18,
2008
Decision
to increase
overall
homeowner
insurance
rates
along the
coastal
counties.
This hearing
differs from
the hearing
held on
January 29,
2009.
At the
January 29,
2009
hearing, the
issue was
the
November 21,
2008
Decision
implementing
Beach/FAIR Plan
increases
for wind and
hail
policies
only.
Even though both Decisions employ increases on our
coastal
insurance
rates, they
differ in
exactly
which rates
are
affected.
The November
21, 2008
Decision
(Beach/FAIR
Plan)
implemented
a 15% to 25%
surcharge on
wind and
hail
policies as
well as a 2%
increase in
deductibles
due take
affect on
February 1,
2009.
The December
18, 2008
Decision
(overall
insurance
rate
increase)
implemented
a 29.8%
increase in
overall
homeowner
insurance
rates for
New Hanover,
Pender, and
several
other
coastal
counties due
to take
effect on
May 1, 2009.
On
January 30,
2009,
Hearing
Officer Hale
dismissed
the motion
regarding
the
November 21,
2008
Decision
to Stay the
rates in the
Beach/FAIR
Plan for
lack of
subject
matter
jurisdiction.
The motion
was then
moved to
Superior
Court and
heard by
Judge
Pittman on
February 4,
2009 who
then issued
his Order on
March 20,
2009.
Judge
Pittman's
Order
granted the
Motion to
Stay the
Beach/FAIR
Plan rate
increases.
This Order
did NOT
address the
overall
homeowner
insurance
rate
increases
due to take
affect May
1, 2009.
On
April 7,
2009, the
motion
regarding
the
December 18,
2008
Decision
to increase
overall
homeowner
insurance
rate
increases
(due to take
affect May
1, 2009)
went before
Hearing
Officer Hale
who stated
he would
have a
decision by
April 17,
2009.
The
arguments
for the two
Decisions
are similar
in some ways
and
different in
other ways.
First, the
November 21,
2008
Decision was
a result of
negotiations
between the
DOI and the
Beach/FAIR
Plan
representatives,
whereas, the
December 18,
2008
Decision was
the result
of
negotiations
between the
DOI and the
Rate Bureau.
The main
statues for
a Right to a
Hearing do
apply in
both
situations,
however,
since the
Beach Plan
and the Rate
Bureau are
two
different
entities the
procedural
statues
which
dictate
proper
procedure
are
different.
Some of the
procedural
errors made
in the
November 21,
2008
Decision
differ from
the
procedural
errors made
in the
December 18,
2008
decision.
It
is always
difficult to
predict the
outcome of
this or any
other motion
as there are
many
substantive
and
procedural
differences
the Judges
and Hearing
Officers
have to
consider;
only time
will tell.
In the
meantime,
there is a
Stay on the
Beach/FAIR
Plan rates
and
hopefully
there will
be a Stay on
the overall
homeowner
insurance
rate
increases as
well.
Representative
Holliman
(Davidson
County)
filed HB
1305
which
integrates
the
recommendations
of the Joint
Select Study
Committee on
the
Potential
Impact of
Major
Hurricanes
on the North
Carolina
Insurance
Industry.
Some of the
recommendations
are as
follows:
-
The
Beach
Plan be
exempt
from
state
and
federal
taxation
to the
fullest
extent
permitted
by law.
-
The
accumulated
surplus
from the
Beach
plan
shall be
retained
from
year-to-year
and used
to pay
losses,
reinsurance
costs
and
other
operating
expenses.
No
member
company
shall be
entitled
to the
distribution
of any
portion
of the
Beach
Plan
surplus.
-
The
Beach
plan can
issue
insurance
subject
to a
maximum
of
$750,000
on
habitational
property
and
$3,000,000
on
commercial
property....
-
The
Beach
plan
MAY,
subject
to prior
approval
of the
Commissioner,
adopt a
schedule
of
special
surcharges...relating
to...policies
issued
by the
Beach
plan.
-
Surcharges
set
forth...shall
be
examined
by
actuaries
...to
determine
whether
the
surcharges
are
actuarially
sound
and
appropriate.
-
Beginning
July 1,
2010,
the
Beach
plan
shall
submit
to the
Commissioner
for
review
by July
1 of
every
two
years a
report
on the
surcharges...and
any
relevant
factors
related
to these
surcharges
for the
Commissioner's
review.
Click here to read HB 1305.
We're Just Going to
Have to Make
a Little
Noise: Editorial by
Governmental
Affairs
Director,
Kathleen
Riely, on
the latest
developments
and progress
on the
insurance
rate
increases
situation
for
Southeastern
NC. Click
here to read the editorial.
Insurance
Commissioner
Asks N.C.
General
Assembly to
Reject Any
Bills
Staying the
Increased
Homeowner
Rates: Commissioner Goodwin held a press conference on Monday,
February
23rd at 11am
where he
passed out a
letter to
the Council
of State and
all members
of the
General
Assembly.
The Letter
asks
Governor
Perdue to
reject any
legislation
regarding a
Stay on home
insurance
rate
increases.
Click here
to view a
copy of the
letter.
Informative Websites:
Click here for a list of useful websites for insurance information.
|
|
CURRENT ISSUES
|
|
New
Stormwater
Ordinance
for the City
of
Wilmington.
A revision
to the
City's Phase
II
Stormwater
permit
requires
adoption of
the City's
ordinance by
November 3,
2009. Once
the
ordinance is
adopted,
developers
in the City
will no
longer be
required to
receive a
permit from
the State,
but will
need only a
City permit
to cover
both
stormwater
quality and
flood
management
controls.
In order
to meet the
revised
deadline,
the City has
laid out the
following
schedule:
Public
Review &
Stakeholders
Meetings
.....April
15 - May 15,
2009
State Review
Draft
............................................
June 1, 2009
30 days
for State
Comment
...............................
July 1, 2009
Planning
Commission
Public
Hearing
.............
August 5,
2009
City Council
Public
Hearing
.......................
September 1,
2009
Phase II
Permit
Deadline
...........................
November 3,
2009
A public
information
meeting is
scheduled
for April
30th at 6:00
PM in City
Council
Chambers.
The
changes in
Article 14
of the Land
Development
Code
include,
among other
things:
-
Permits for
both
water
quality
and
flood
control
will be
issued
by the
City and
not DWQ
-
10,000 sq. feet
of newly
constructed
impervious,
regardless
of
previous
condition
of
surface
will
trigger
the
ordinance
(some
exceptions
in the
CBD)
-
As-builts for
all
private
development
will be
required
-
In multiple lot
developments,
a
homeowners'
or
property
owners'
association
shall
regulate
through
deed
restrictions
the
allocation
of
impervious
surface
on a
per-lot
budget
and
shall
submit a
report
annually
to the
City
demonstrating
compliance
Click here
to read a
copy of the
proposed
amendment in
Article 14
and
click here
to read a
copy of
Chapter 12
of the
Utilities
Code.
Click here
to view the
summary
chart of
changes to
the State
Stormwater
Standards.
Funding for the Coast:
U.S.
Congressman
Mike
McIntyre
announced
today that
$10,947,000
in federal
funds will
be coming to
coastal
projects and
coastal
communities
in
Southeastern
North
Carolina.
These are
funds
appropriated
by Congress
from the
American
Recovery and
Reinvestment
Act.
Congressman
McIntyre
stated,
"These funds
will help
our economy
by investing
in the coast
that
produces
jobs and
revenue, and
stands as
the economic
backbone of
Brunswick,
New Hanover,
and Pender
counties.
Investing in
these
critical
projects
will help
with tourism
and public
safety, as
well as
protect our
environment,
and our
future.
This is a
great day
for the
coast of
North
Carolina!"
These
funds that
will be used
by the Army
Corps of
Engineers
include:
$4,000,000
for work on
Cape Fear
Lock and Dam
#1;
$3,000,000
for the
Atlantic
Intracoastal
Waterway;
$800,000 for
dredging of
New Topsail
Inlet, New
Topsail
Creek and
Banks
Channel;
$747,000 for
repairs at
Cape Fear
Locks and
Dams #1-3 -
road work,
restroom
renovation
and boat
ramp
repairs;
$630,000 for
dredging of
Carolina
Beach Inlet;
$600,000 for
dredging of
Lockwoods
Folly Inlet;
$570,000 for
disposal
material
from
Lockwoods
Folly Inlet;
$500,000 for
dredging in
the vicinity
of Cape Fear
lock
structures
to ensure
lock
operation is
unhibited;
and
$100,000 for
disposal
island
improvements
for
Shallotte
River.
Stewardship Development Awards Program:
WRAR is an active member and a lead sponsor of the Lower Cape
Fear
Stewardship
Development
Awards
Program.
This program
recognizes
development
projects
that are
exemplary in
their
attempts to
protect the
natural
resources of
the area.
The program
is entering
its fifth
year and the
interest in
year four
was
incredible;
with seven
award
recipients.
Projects
from New
Hanover,
Pender and
Brunswick
counties are
eligible to
apply.
Applications
are being
accepted
until July
31st, with
the awards
banquet
being held
on November
19, 2009. If
you want to
learn more
about the
program, or
would like
to download
the
application
form and
guidelines
for meeting
the
criteria,
please visit
www.stewardshipdev.com
or
contact your
local planning
department.
NC's Strategic
Highway
Corridor
Initiative: The US 17 Corridor
Study
includes
North
Carolina
Transportation
Improvement
Program
(TIP)
projects
U-4751 and
R3300.
U-4751 is an
extension of
Military
Cutoff Road
on new
location
from Market
Street (US
17 Business)
to the US 17
Wilmington
Bypass (John
Jay Burney
Jr.
Freeway).
Project R
3300 is the
US 17 bypass
of
Hampstead.
Click here for more information on these projects.
Coastal Hazard
Disclosure
Bill
Introduced: On March 12, 2009
Representatives
Pricey
Harrison and
Carolyn
Justice
introduced
House Bill
605 (Coastal
Hazard
Disclosure)
which would
mandate new
disclosures
for certain
coastal
properties.
Click here to read the bill.
Under this legislation, property owners would have to
determine
whether the
new
disclosure
requirements
apply to
their
property,
presumably
by checking
maps that
would be
located at
the local
Clerk of
Court's
office.
The
legislation
would
require the
Real Estate
Commission
to amend the
Residential
Property
Disclosure
Statement to
include
information
about
"coastal
hazards",
such as
annual
erosion
rates,
setback
requirements,
100-year
storm
recession
estimates,
high hazard
flood areas,
inlet hazard
areas and
flood
elevation
levels.
The bill
also directs
the Coastal
Resources
Commission
to adopt a
new
disclosure
form that
would
require the
disclosure
of similar
information.
In addition,
the Coastal
Resources
Commission
would be
given broad
authority to
require the
disclosure
of
additional
information
as it sees
fit.
The new
Coastal
Resources
Commission
form would
apply to the
sale of
lots,
residential
property and
commercial
property.
In
a
nutshell-this
is a bad
bill.
Hopefully it
will "die"
in the
House.
CRC Set Back Rule
Legislation
Update:
Recently the
Coastal
Resources
Commission
approved
changes to
15A NCAC
07H.0306
("Graduated
Ocean
Setback
Rules") and
07J.1200
(procedures
for Beach
Fill
Community
Designations/SVL
Exception
Status)
which were
to become
effective on
March 16,
2009.
But on March
10, 2009
Legislation
was proposed
that would
stop or at
least
postpone
these rules
from taking
effect.
Click here to read rules 15A
NCAC
07H.0306 and
07J. 1200
and
click here to read more information regarding the implementation of the
rules. Click
here to read Senate Bill 524.
Homebuyer Tax
Credit:
The bill
provides for
an $8,000
tax credit
that would
be available
to
first-time
home buyers
for the
purchase of
a principal
residence on
or after
January 1,
2009 and
before
December 1,
2009. The
credit does
not require
repayment.
Most of the
mechanics of
the credit
will be the
same as
under the
2008 rules:
the credit
will be
claimed on a
tax return
to reduce
the
purchaser's
income tax
liability.
If any
credit
amount
remains
unused, then
the unused
amount will
be refunded
as a check
to the
purchaser.
Chart
Highlighting
the Major
Modifications
to the
First-Time
Homebuyer
Tax Credit
NAR's
Presentation:
The 2009
First-Time
Homebuyer
Tax Credit
Homeowner
Affordability
and
Stability
Plan:
Click here for a detailed summary of the provisions outlined by the
administration.
Click here for questions and answers.
Click here for a description of how the plan will help 3 different
"families"
facing
foreclosures.
To track the
progress of
this act,
you can
visit
www.recovery.com.
|
|
NATIONAL REALTOR NEWS
|
|
NAR Real
Estate
Summit Draws
Media
Coverage
View
clips of the
media
coverage
generated by
NAR's Real
Estate
Summit held
at the
Midyear
Meetings in
Washington,
D.C. on May
12, 2009
Watch the
clips.
Summit
highlights.
Midyear news
and
materials.
Realtors®
Help Buyers,
Sellers
Navigate
Short Sales
(May 15)
Attendees at
the Housing
Opportunity
Forum at
Midyear gain
insight on
short sales.
Click here
to read
more.
Uniform
Short Sales
Process To
Help
Struggling
Home Owners
(May 14)
Help is on
the way for
many home
owners who
are facing
foreclosure,
thanks to
new details
under the
Making Home
Affordable
Program.
Click here
to read
more.
Click here
to read
detailed
guidelines.
REALTOR® Insider:
D.C. News
and Events
Obama
Administration
Announces
Financial
Incentives
and Uniform
Process for
Short Sales
NAR Asks
FICO and
Experian to
Resume
Negotiations
to Restore
Consumer
Access to
Experian-Based
FICO Scores
Business
Report
Representatives
Kind and
Gerlach
Introduce HR
2360, "The
Small
Business
Health
Options
Program
(SHOP)"
FTC Provides
Red Flag
Compliance
Templates
for Low Risk
Entities
Housing
Report
HUD Extends
Waiver for
Anti-Flipping
Rule
|
|
|
AREA
VACANCIES
|
|
Carolina Beach is accepting applications for the Planning and
Zoning
Commission.
You must
reside
within the
corporate
limits of
Carolina
Beach.
For more
details or
to apply
visit
www.carolinabeach.org
or call
910-458-2526.
The Wilmington Urban Area Metropolitan Planning Organization has
a vacancy on
the BikePed
Committee. This
committee
advises the
Transportation
Advisory
Committee on
issues
regarding
bicycle and
pedestrian
programs,
projects,
polices and
safety. If
you are a
resident of
New Hanover
County and
are
interested,
please send
an email to
joshuah.mello@wilmingtonnc.gov.
Kure Beach is accepting applications for the Board of
Adjustment. Click
here
for details.
Boards and Committee
Vacancies:
Pender
County,
New Hanover
County,
City of
Wilmington.
|
|
GOVERNMENTAL AFFAIRS DEPARTMENT
|
|
Kathleen
Riely,
Governmental
Affairs
Director
910-762-7695
kriely@wrar.com
Tiffany Lawhorn, Governmental Affairs Assistant
910-762-9082
governmentalaffairs@wrar.com
1444 S. 17th Street
Wilmington, North
Carolina
28401
910-762-7400 Office
910-762-9860 Fax
|
|
