Carolina North: Explaining the Hole in the Pocketbook

I haven’t said much about the fluffy TischlerBise fiscal impact study commissioned and worked on jointly by UNC’s administration, our local governments and TischlerBise’s consultants.

Fluffy? Like previous UNC commissioned analysis – notably the previous Carolina North and Orange County Airport Authority economic justifications – the upside is mostly in intangible (i.e. hard to measure, hard to hold accountable for) benefits and the downside – in hard currency – mostly downplayed, low-balled.

Carolina North could be a great asset to the local community but UNC cannot shift millions of dollars of costs onto the shoulders of local residents.

No matter how the consultants twisted the numbers it is clear that Chapel Hill will take a significant financial hit as Carolina North – the question now is how much?

There’s a preview session setup for Council this evening at UNC’s School of Government (open to the public in case you are interested in seeing some consultancy sleight of hand):

The consultants who prepared the fiscal impact analysis for Carolina North will present their final report to the public March 31. The presentation will begin at 7 p.m. in the Wicker Classroom (2603) at the School of Government on the campus of the University of North Carolina at Chapel Hill.

Free parking is available after 5 p.m. in the School of Government parking deck, with additional paid parking in the N.C. 54 visitor’s lot and the Rams Head deck. Chapel Hill Transit service is available via the RU, G, S and V routes.

My estimate?

At least $15-20 million over the next 10 years or, roughly, 3 to 4 cents per $100 valuation per year of additional tax burden (on-top of our contributions via North Carolina State taxes).