New Homeownership Pilot Program in Corridors of Opportunity Provides Up to $80,000 in Assistance A new homeownership pilot program from the City of Charlotte will provide up to $80,000 in assistance for eligible residents purchasing a home in "areas of influence" within the Corridors of Opportunity. House Charlotte Plus offers an additional layer of financial assistance to the existing House Charlotte homeownership program . Through this new pilot program, an eligible resident can receive an additional $50,000 as a 0% interest deferred loan. House Charlotte Plus must be used in conjunction with House Charlotte, which currently offers up to $30,000. Together, an eligible homebuyer could receive up to $80,000 in assistance through these two programs. As part of the $60 million in current and planned investments renewing the city’s commitment in the Corridors of Opportunity , House Charlotte Plus is only available in designated areas inside the Corridors of Opportunity known as areas of influence . To be eligible for House Charlotte Plus, a homebuyer’s income must be 80% of the area median income (AMI) or less. The maximum purchase price is $300,000 for existing homes, and $315,000 for new construction. The entire loan balance must be repaid if […]

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American Cancer Society and ACS CAN Continue Commitment to End Cancer As We Know It, For Everyone WASHINGTON, Feb. 2, 2023 / PRNewswire / — On the one-year anniversary of the reignited Cancer Moonshot, the White House looked back on a year of progress and announced several public and private commitments to continue to work toward the initiative’s mission to, "End cancer as we know it today." Among the commitments of the private and nonprofit sectors shared by the administration, the American Cancer Society and its advocacy affiliate, the American Cancer Society Cancer Action Network (ACS CAN), are highlighted for ongoing work across the enterprise to support the Moonshot’s five key priority areas: (1) close the screening gap, (2) understand and address environmental exposure, (3) decrease the impact of preventable cancers, (4) bring cutting-edge research through the pipeline to patients and communities, and (5) support patients and caregivers. "The American Cancer Society and ACS CAN are well aligned with the Moonshot’s mission, and remain steadfast in our commitment to improve the lives of people with cancer and their families," said Dr. Karen E. Knudsen, CEO of the American Cancer Society and ACS CAN. "The progress we’ve realized to date […]

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More than four years after launching its opportunity zones program to attract investment to economically underdeveloped areas, Colorado is winding it down — and declaring it one of the bigger successes among similar programs throughout the United States. While exact figures are scarce due to a lack of reporting requirements surrounding the federal tax credit, Colorado officials believe that roughly $1 billion has been invested in opportunity zone projects here, and a similar amount has been raised from state investors. Colorado generated the third-largest per-capita investment level among states and the funding reached areas from remote Western Slope town Naturita to rarely developed southeastern towns like Granada, according to the Colorado Office of Economic Development and International Trade. Some three-quarters of the money from opportunity zone investments has gone to multifamily housing projects. Critics of the program worried that developers would take advantage of the tax breaks to build luxury residences on the edge of some opportunity zones, and the majority of apartment projects in Colorado — 21, including all of those in the Denver area — are at market rate. But 15 workforce-priced apartment projects sprawled in more rural areas of the state, producing more than 1,000 units […]

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Source: N.C. State University’s Dept. of Educational Leadership, Policy, and Human Development The application period for 2023-2024 school year Opportunity Scholarships opened Feb. 1 and closes March 1. Each scholarship is worth up to $6,492 a year toward private school tuition. Applications for the Opportunity Scholarship Program opened Feb. 1 in North Carolina, marking the beginning of what is sure to be another year of growth for the school-choice program. As of the morning of Feb. 3, 3,853 applications had been received for Opportunity Scholarships, according to the N.C. State Education Assistance Authority, the state agency that oversees the program. The NCSEAA also published new guidelines on the value of each scholarship and the income thresholds needed to apply. Each scholarship is now worth up to $6,492 a year for tuition and fees at a private school, while the yearly income cap for a family of four is now $111,000. The Opportunity Scholarship Program, in existence since 2013, enables North Carolina families of moderate means to send their children to a private school. OSP students get 90% of per pupil allotment In recent years, lawmakers in the General Assembly have expanded the program to more middle-class households. As recently […]

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Retirement Weekly Valentine’s Day: 4 tips for the financially single Getty Images/iStockphoto We’ve all been there: Single on Valentine’s Day. And while finding yourself in such a situation can range from mildly irritating to downright heartbreaking, there is at least one type of singleness on Valentine’s Day where financial advice can help: being “financially single.” What does it mean to be ‘financially single’? This can include all kinds of situations, from single parents to those in a relationship but keeping finances separate, or simply those living and maintaining your finances all on your own. Whatever the case, being financially single can often feel like a weighty responsibility, but the good news is that there are some simple strategies that can help you plan for the unique opportunities and challenges that come with independence. As a financial single, you will have different tax options than married couples. You’ll also have sole responsibility over covering your expenses, earning an income, and planning for your future in terms of retirement, eldercare, and estate planning. On the other hand, you’ll likely also have fewer financial obligations to others, which may translate into being able to save and invest more in what interests you. […]

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ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal. Problems like educational achievement gaps, racial wealth gaps and lack of access to affordable housing aren’t abstract issues. These matters affect real people, and those people live in real places. When issues are divorced from the places where they happen, the result is investments spread thinly or haphazardly overlapped in ways that consistently fail to generate lasting positive change. The Neighborhood Opportunity Index covers more than 1,700 neighborhood “block groups’’ in seven counties of Central Florida. Block groups are the smallest unit of measurement for U.S. Census data. Each block group was assessed on indicators related to income, employment, crime, housing, education and health. High opportunity in a neighborhood means that there is low crime, low unemployment, good health, good access to attainable housing and strong household income. In a low opportunity neighborhood, the rates of crime, unemployment and poverty are high, while educational attainment and health indicators are low.

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A Purple Line construction site in Riverdale in January 2022. (Carolyn Van Houten/The Washington Post) The Purple Line has been a fiasco, and the Jan. 28 editorial “ Yes, another Purple Line editorial ” noted many of the problems. But one issue it did not note is that by devoting the resources we are to this rail line, we are not able to use those resources for other purposes. Economists call this “opportunity cost,” but the concept is simple. Maryland has limited resources to spend on public transit. Instead of paying the concessionaire a net of close to $300 million a year for 30 years to build and then operate the line (assuming fares are as forecast and that costs do not rise further — neither a good assumption — and excluding federal grants), Maryland could instead support greatly expanded bus services to all of Montgomery and Prince George’s counties. For the funds the state will spend on the Purple Line, it could pay to double the services on the county-run bus systems (doubling the routes, doubling the service frequency on the routes or some combination). Plus, it could permanently end the collection of fares on those buses. The […]

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WALLDORF & MUNICH — SAP SE (NYSE: SAP) today announced that BMW Group will expand its strategic partnership with SAP to accelerate its digital transformation. On January 25, 2023, this was sealed by both companies. Using the RISE with SAP solution, BMW Group will move its entire SAP software landscape. The company will merge its cloud strategy with its existing SAP S/4HANA systems, allowing for joint innovation for critical business areas, including finance, parts supply, warehousing, supply chain and production. This will help BMW Group to digitalize faster, more comprehensively and more efficiently in the future. Expanding a Long-Standing Strategic Partnership BMW Group and SAP look back on a long-standing strategic partnership. As part of RISE with SAP, BMW Group will have access to a cloud platform for end-to-end business processes. Alexander Buresch, CIO and Senior Vice President, BMW Group IT, said: “This strategic decision will help us to drive our digitalization leadership even faster forward. We are increasing the flexibility of our infrastructure and creating maximum global scalability. And most importantly, it allows us to bring business innovations to our customers and users much faster than before. That’s why I’m very much looking forward to the next steps […]

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Mr. Mustafa O. Vazayil, Managing Director, Gargash Insurance Services LLC – Mr. M. Rajendran, Deputy Managing Director, Gargash Insurance Services LLC If the first leg of technology transformation, the insurance industry focused on enhancing internal efficiencies, the next leg is laying emphasis on improving customer experience and bolstering data and analytics capabilities, say top management executives at Gargash Insurance Services LLC. Gargash Insurance has been investing significantly in its digital capabilities to become increasingly agile, innovative, and customer-centric. "We are looking to give customers a total solution on our website and decreasing the time lag between choosing a policy to buying one. The customers will not have to wait for a quotation; they will be able to choose a policy online and buy it on the website in just a few clicks. A few insurers are ready with the capability and others are onboarding with us. By the end of March, we will have providers giving customers more choices on our website," said Mustafa O. Vazayil, Managing Director, Gargash Insurance. "There is no better way than to invest in technology to improve efficiencies and match the aspirations of customers." Talking about trends in the industry, M. Rajendran, Deputy Managing […]

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