Steve Rao

August 2 Office Hours

Rep Murry:   I met Rep. Murry to review some of the legislative bills, and conveyed to him that I was not happy with the guns in restaurants and bars, or increasing restrictions on abortions.   A number of bills did take away or restrict municipal revenue and authority  (protest petitions, aesthetic design control) although Tom did his best to think of how Morrisville would be affected in a number of cases.     (I will have a breakdown of all bills affecting Morrisville on the site in the next few days)

The repeal of the Jordan Lake Rules was also not a piece of legislation I was happy with and do believe that this will be shortsighted as it relates to our environmental quality.

In terms of economic development and job growth, I was not happy with the elimination of the Qualiied Business Venture Tax Credit, which was effective in increasing investment in our state, not a smart policy decision when it comes to job creation.

Tom was also very supportive of HB 520, which would have made it easier for crowd funding to take place in North Carolina and although this bill did not pass, he will bring this bill back during the short session.

Finally, one idea I proposed to Tom is to create a state venture fund, which could perhaps, compile VC funding in our state, and provide a share of investment, dedicated to North Carolina startups.

Murali Bashyam:    I had a meeting with Immigration Attorney, Murali Bashyam, whose advice was for Morrisvile to consider raising EB5 money from international communities but to work with private companies, who would then work with Regional EB 5 Centers.    I have had some leads from Indonesia and India, on potential investors, who are interested investing in Morrisville, and perhaps, we can capitalize some of our projects on the CIP plan.

Next step is for me talk with the Regional Centers and put the potential investors in touch with the regional EB5.

TIE Carolinas President, Abhi Muthuyan:    I had a very productive meeting with TIE President, Abhi Muthuyan, and we are working hard to promote the TYE program to Morrisville families, and will be working hard to promote the program to Panther Creek and Green Hope High Schools.   In addition, I would like to see TIE Carolinas mentors play a more active role in future entrepreneurial programs and the HOTTIES program.

Developers:    I ended the day with continued discussions with developers interested in land in the Town Center plan and have directed them to staff and also other property owners, with the top interest being a Senior Retirement community in Morrisville.

As always, a great day of office hours.




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