Members of the Home Builders Association of Fayetteville (HBAF) packed city hall during a regular city council meeting that took place on Monday, Sept. 18.
During the public forum portion, HBAF President Adam Furr spoke on behalf of the organization to provide a snapshot of the economic impact of the industry and to highlight the value of new home construction to the City of Fayetteville.
Key facts shared during the address included:
“But housing’s value goes far beyond tax revenue. Building just 100 homes supports about 300 full-time jobs — not only construction crews, but also local suppliers, mortgage lenders, engineers, real estate professionals, insurance agents, and small businesses that all benefit when homes are built,” shared Furr. “Here in Fayetteville, the Home Builders Association represents 520 member companies, which together account for an estimated 5,000 local jobs. These are paychecks for families, support for small businesses and the backbone of our local economy.”
Furr also commented that the Council's decision to reduce the tax rate was intended to provide taxpayer relief, including for builders and developers, but stated that the combination of a lower rate and reduced sales has significantly limited what new construction contributes back to the city.
As he concluded his address to the council, Furr requested that the Council keep in mind the importance of new construction for the city’s financial health as they plan future budgets. He also encouraged them to explore alternative revenue streams and support policies that encourage steady housing developments.
“The housing industry remains one of the strongest engines for Fayetteville’s economy. We look forward to continuing to work with you to build homes, strengthen neighborhoods, and grow our community together,” concluded Furr.
The full meeting can be found on the city’s website here.
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