Abdul Sm Rasheed
Chief Executive Officer

After a long and hard-fought legislative
session, the Initiative is celebrating
our most successful state allocation
ever. In light of these additional
resources, I would like to outline one
of several new programs that we are
particularly excited about.

In the first quarter of 2008, the Initiative
will be awarding 20 Planning
Investment Grants of up to $10,000 for
the development of “safe space,” crime free environments where children and young adults will be able to learn, play and grow. To highlight the importance of youth participation, this new grant program requires that each proposal include a detailed strategy to engage community youth between the ages of 15 and 25 in the design and implementation of the submitted plan.

In addition, to encourage local collaboration, funds must be matched dollar for dollar with resources from partner organizations. Once the original concepts have been submitted and evaluated, five Implementation Investments will be made during the 2008 fiscal year with full access to the Initiative’s lending and technical assistance.

Applications for the planning grant
will be due on November 30, 2007.
The official Request for Funding as
well as more information on how to
apply can be found on our website at:
www.ncinitiative.org/grants.cfm

Now is the time to invest in the next
generation of community leaders.

a smarter way to meet the affordable housing need. “As a CDC, we shouldn't be building homes,” Mr. Poe asserted. “We should be facilitating deals."

Thus, the Initiative’s investment in OBX
CDC is about more than bricks and mortar;
it is an investment in IZ and an investment
in the future of community economic
development. And on July 30th, the years
of hard work paid off at the groundbreaking
for Natures Walk, the first workforce
housing development in the Outer Banks.

Developed through a partnership with Lone Cedar Land Development, Natures Walk will consist of 20 two-bedroom units, 15 of which will be priced affordably. In accord with Kill Devil Hills’ voluntary IZ program, the “Workforce Housing Amendment,” Lone Cedar received a density bonus and waiver of
town fees in exchange for building the workforce units. Once construction has been completed, the Outer Banks will be responsible for finding income-qualified buyers for the units.

“Not many private developers are willing to do this kind of work,” Bob Woodard, Mayor Pro Tem of Kill Devil Hills, remarked at the ceremony. “They need more density to make it happen.”

Across the state in the small town of Davidson, Marcia Webster couldn’t agree more. As executive director of the Davidson Housing Coalition, another Initiative TIF grantee, she oversees and administers the town’s mandatory IZ ordinance, which requires 12.5% of newly constructed residential units to be priced affordably.

Like many IZ advocates, Mrs. Webster
believes that a successful ordinance must
institute an affordable housing requirement.
And while there are many differences between voluntary and mandatory IZ, the essence remains the same. In both cases, the key is to strike a balance between additional cost to the developer and an appropriate incentive package.

“The IZ ordinance is not easy to write and especially not easy to implement,” Marcia stated. “But, we all feel, here, worth the trouble we’re all going through.”

We at the Initiative agree and are eager to continue exploring this exciting new frontier. If you would like to read any of the IZ ordinances mentioned in this article, they can be found on our website at: www.ncinitiative.org/IZ