We’ve all heard the buzz about COVID-19’s impact on the real estate market nationwide. Listen to a discussion with Charlotte area developers as they reflect on the real estate outlook for our region and the prospect for continued growth. This session will cover pandemic-influenced trends in the office, retail and housing markets especially outside of the center city. Gain perspective on how developers are seeing the trends and how to position your community to attract desirable development.
Federal funds are commonly passed through state agencies in North Carolina before being awarded to local governments, which can make the original funding source less obvious. Before proceeding with a procurement, local governments should verify whether an award originates from a federal source. This determination affects compliance obligations, including procurement standards, reporting, and audit requirements.
When a construction or repair contract over $300,000 involves a building, the procurement and contract are subject to additional requirements under N.C.G.S. 143-128. Therefore, this question must be answered to determine whether the additional statutory requirements apply to this procurement scenario.
The micro-purchase threshold is a federal procurement threshold under which competitive procurement is not required. The default micro-purchase threshold is $15,000, but local governments may increase the micro-purchase threshold up to $50,000. An explanation of increasing the micro-purchase threshold and a template for the required annual self-certification is available here.