Feb. 3 The dip in current enrollment at Rowan-Cabarrus Community College is apparently just a breather in a five-year upward trend that has seen a 38 percent increase in student population. Gaye McConnell, vice president of student services and enrollment management at Rowan-Cabarrus. “The rapid increase in enrollment that we experienced over the last few years was unsustainable from an operational perspective. We could not have handled continuous growth at that rate,” said Carl M. Short, chair of the Rowan-Cabarrus Board of Trustees. “Therefore, we’re glad to see that the enrollment has leveled off a bit. We hope that this will give us the ability to do more program development. We’ve wanted to further explore new areas of growth, but we have not had the resources to dedicate to that effort. Now we will be able to do so.”

TARTE

Jan. 31 With property re-valuation cases stacking up, and municipal budget time fast approaching, the town of Cornelius is looking for answers from Mecklenburg County about process and procedures. Indeed, a letter from the Town Board of Cornelius signed by Mayor Jeff Tarte today asks that "a moratorium be immediately put into place on processing further revaluation appeals until all affected citizens are assure of due process, fair and equal treatment and adequate information to make informed decisions."

Although tax bills have been sent with new valuations--many of them substantially higher than the 2003 valuation and higher than current property values--the backlog of appeals is said to be enormous, based on the number that can be heard each day.

COGDELL

While Mecklenburg officials are still looking at ways to speed up the handling of appeals,  The board handles appeals where a property owner isn't satisfied with the results of an informal review by county staff. It has been meeting since August and currently considers 75 cases a day, three times per week.

The stakes are high. In a town with literally thousands of houses valued at more than $500,000, a property owner's bill can soar from $5,000 a year to $7,500 a year if the appraisal climbs 50 percent.

Some waterfront property appraisals have risen more than that.

Jan. 31 There will be plenty of chiefs at a conference in Cabarrus County starting this week, but no one's complaining about an abundance of management types. The North Carolina Association of Fire Chiefs Mid-Winter Conference, hosted by the Concord Fire Department and the Cabarrus County Firemen’s Association, runs Feb. 1 to Feb. 5. This is the second consecutive year that the NCAFC has met in Concord for its Mid-Winter Conference. Some 300 fire chiefs and chief officers from around North Carolina will participate in board meetings, workshops, continuing education and the Fire Chief of the Year Awards Ceremony during the conference. NCAFC Conference events will be held at the Embassy Suites-Concord Golf Resort and Spa and the Concord Convention Center. Kenneth Mullen, executive director of the N.C. Association of Fire Chiefs, said the fire chiefs will continue to meet in Concord through 2014. NCAFC Conference events will be held at the Embassy Suites-Concord Golf Resort and Spa and the Concord Convention Center. Donna Carpenter, president and chief executive officer of the Cabarrus County Convention and Visitors Bureau, said tourism is an "economic engine for the county and conventions like the NCAFC Mid-Winter Conference are critical in sustaining local businesses.”

Jan. 30 Fourth-quarter net income at blueharbor bank today rose to $112,509 during the last three months of 2011 compared to net income of $41,923 for the fourth quarter of 2010. The Bank’s net income was $411,954 for the full year in 2011, vs. $186,569 in 2010.

“During 2011, we were pleased to be able to report year over year growth in net income. The fourth quarter of 2011 was the ninth consecutive quarter of positive earnings for blueharbor bank since we turned profitable in the fourth quarter of 2009,” noted Jim Marshall, CEO. Total assets at blueharbor grew to $137.9 million at Dec. 31, vs. $130.3 million at year-end 2010. Gross loans decreased to $93.6 million at Dec. 31, 2011, from $100.3 million at Dec. 31, 2010. Total deposits increased to
$117.4 million at the end of 2011, from $110.7 million at 2010's year end.

Jan. 27 Kannapolis Mayor Robert S. Misenheimer and Concord Mayor Scott Padget have joined the list of distinguished North Carolinians to receive the Order of the Long Leaf Pine. The mayors, both recognized for their support of local industry,  received the recognition at the Cabarrus County Chamber of Commerce annual meeting in a videotaped presentation by Gov. Beverly Perdue. Both also received the chamber's Lifetime Achievement Award during the luncheon on Friday.

The Order of the Long Leaf Pine is presented to individuals who have a long history of service to the state. Both mayors were recognized for their contributions as educators and on their service on their respective city councils prior to taking on the mantel of mayor.

Racing Electronics received the Small Business of the Year award. Sustainability awards were given to Embassy Suites Golf Resort and Spa, the cities of Kannapolis and Concord, and Moose Pharmacy. The Cabarrus Sustainability Council also honored Dakeita Vanderburg-Johnson, president of Southgate Masonry and Lumber.

ENGEL

Jan. 26 Aquesta Bank is back in the black. CEO Jim Engel said its unaudited operating income for the fourth quarter of 2011 was $78,000 compared to net income of $2,000 for the same quarter of 2010. Net interest income for the fourth quarter of 2011 increased to $1.8 million from $1.6 million. The increase was largely due to improved net interest margins, but loan volume declined amidst a weak economy. At the same time, Aquesta had set aside a total of $1.8 million in loan loss reserves at the end of 2011, compared to $1.2 million set aside at the end of 2010.

Engel said Aquesta has hunkered down because of the economy. 

"We had a rough patch in the third quarter and really decided to reduce our cost structure. We took a hard look at our loan portfolio to see if they are all priced correctly," Engel said, explaining that the bank is prepared for slow growth in 2012 and 2013. The Cornelius-based institution reported an $859,000 loss during the third quarter of 2011 (compared to net income of $124,000 for the same year-ago quarter) and cut its workforce by about a dozen people.

Gov. Perdue

Gov. Bev Perdue announced 28 new jobs at Origin Food Group's new facility in Iredell County. In a partnership with a agricultural family from Ecuador, Origin will produce a new line of healthy food products, beginning with "fresh" yogurt and fruit shakes.

The company is investing more than $7 million to build and upfit its food processing facility off Interstate 40. Origin Food Group expects to create 28 jobs initially, and employ as many as 50 people in about two years. Origin Food Group is a partnership between Francisco Alarcón and Bob Stamey, a long-time leader in Iredell agriculture. Origin Food Group dates back more than 60 years in the Statesville area. Origin has been in the yogurt and beverage business 33 years; the Alarcon family owns Toni Dairy Industry in Ecuador.

COLLINS

Jan. 25 The Charlotte Venture Challenge is offering prize money for the first time—-a total of $100,000 for local entrepreneurs. The business innovation competition, formerly known as Five Ventures, is accepting applications from early-stage entrepreneurial companies between now and noon Feb. 29. The Charlotte Venture Challenge is organized by UNC Charlotte’s Charlotte Research Institute and The Ben Craig Center. For the first time, prize money to be awarded to the winning companies will top $100,000.

Go to www.charlotteventurechallenge.com to apply.

Jan. 25 The head of strategic planning for Norfolk Southern has let the NC Department of Transportation know that the railroad has grave concerns about plans for the $452 million Red Line from Charlotte to Mooresville near the Lowe's corporate campus.

"Norfolk Southern is concerned that the proposed Red Line project may now be fundamentally incompatible with Norfolk Southern's potential future use of the line and our ability to grow our business in North Carolina," John Edwards, general director of passenger policy and strategic planning, said in a letter to Paul Morris, the deputy secretary of the NC Transportation Department.

TARTE

POINT: "It is difficult to understand why NS was not contacted sooner to bring them in as a partner in the development of the rail line.  As we don't know where NS will come out in their analysis of the line, we are going to continue our fact finding and analysis albeit with some additional concern as to the depth of the plan's development."
--Cornelius Mayor Jeff Tarte

GILROY

COUNTERPOINT: "Utterly unbelievable! Iredell County Chairman’s description of all this as “cockamamie”, “insane”, and a “fairy tale” are proven even more accurate… NC DOT should be utterly ashamed for this waste of time and money. We need to widen I-77 and seriously plan and develop a 21st century rapid bus transit system."
--Dave Gilroy, Cornelius Town Commissioner

Excerpts from Jan. 16 Letter from John Edwards, Norfolk Southern's general director of strategic planning, to Paul Morris, deputy secretary of the NC Transportation Department:

"As I explained in our meeting, Norfolk Southern is concerned that the proposed
Red Line project may now be fundamentally incompatible with Norfolk Southern's
potential future use of the line and our ability to grow our business in North Carolina."

"Current publicity and discussions indicate that Norfolk Southern has agreed to,
endorsed, or otherwise has consented to the proposed Red Line project, which is
simply not the case.There has been a significant change in the use of the North Carolina mainline between Charlotte and Raleigh that may require the 0 Line to be used as an alternative through freight route."

To read the entire letter click here.

Jan. 24 Property rights in a multimillion-dollar neighborhood on Jetton Road in Cornelius collided with the concept of adequate compensation for a lost use Monday night at Town Hall. Steve and Lisa Haimbaugh rent their $1.2 million home on Jetton Road for $5,000 a week in the summer, generating $50,000-plus a year in revenue.

It violates the town’s vacation rental ordinance, but it allows the Haimbaughs to make their mortgage payment. Paul Duke, whose $1.975 million home is next door, asked that the town uphold the ordinance vacation rental ban, which would force the Haimbaugh’s close down what amounts to a bed and breakfast in February, when a three-year grace period comes to an end.

Mr. and Mrs. Haimbaugh asked the town for a 30-year extension because they wanted the rental income from the property to cover their investment.

Cox: Buildings sells for $1.75 million

Jan. 16 The Cabarrus Chamber of Commerce has sold its 12,500 square foot building on Highway 3 in Kannapolis to a medical practice for $1.75 million.

“Given the market, and the fact that it met the appraisal at every level, we feel very good about it,” said John Cox, CEO of the Cabarrus chamber.

At one time the building had appraised at $2.6 million. The chamber will become a tenant.

The sale comes at a good time for the chamber. Like other chambers, the organization has taken a hit in sponsorship income. The Cabarrus chamber’s has fallen about half during the past couple of recessionary years. To make matters worse, the chamber’s long-time tenant, the Cabarrus Convention & Visitors Bureau, moved to a new location near Bruton Smith Boulevard, reducing the chamber’s revenue by about $60,000 a year.

BLACK

By Frank DeLoache

Three large commercial foreclosure proceedings in Cabarrus and Iredell counties in October and November come as no surprise to people who work in local commercial real estate. They say the commercial real estate market has not reached bottom yet.

Public records show:

• In Iredell County, Peoples Bank filed two, apparently related, foreclosure actions against Morrison Plantation LLC. According to records, on Nov. 23, Peoples filed a $3,918,000 foreclosure action on Lot 21 (1.92 acres) and Lot 2 (1.23 acres) in Morrison Plantation, the mixed-use development in Mooresville. On the same day, the bank filed a foreclosure for the same amount on 35.93 acres on Morrison-Plantation Parkway.