Entries by Harold Weinbrecht

Harold’s Blog: Xerox Announcement, Town Council Meeting and More

Tuesday was a very busy day. It started with the job announcement from Xerox that they planned on a $18.4 million investment that included 600 jobs with an average salary of $112,000. I joined council member Smith, the town manager, Director of Economic Development, and several key chamber members at the state capital for the announcement.

Harold’s Blog: Bond Referendums, Lyman Collins and More

Monday I joined the town manager, the chief financial officer, the deputy town clerk, the bond attorney, and a representative of the bank to sign legal documents for the sale of the last portion of the 2012 General Obligation bonds. The amount was $16,050,000 and will be used to implement promises made in 2012. Since we have the highest bond rating possible our bonds are at the lowest interest rate possible. The interest rates will be almost nothing since it is just barely above inflation.

Harold’s Blog: Cary Town Council, Cary Towne Center and More

My last meeting on Monday was with the Deputy Town Manager and the Mayor Pro-Tem. We mostly talked about the hotel occupancy and meals tax. Approximately $52 million in hotel/meals (“Hospitality”) tax revenue was generated in Cary from FY 2010 through FY2016, and I estimate we generated another $30 million plus in the last three years to make the ten-year total somewhere north of $80 million. During that ten years, Cary received $21 million in Hospitality Tax revenues.