William Morgan
♦ Age: 62
♦ Address: 1003 LaSalle Lane, Statesville
♦ Education: BA, Wake Forest University; graduate study, The American College
♦ Professional Background: President and CEO, Capital Management Group of the Carolinas, Inc., a wealth management and investment firm in Statesville, 1990-present
♦ Elected experience: Statesville Planning Board, 2008-2013; Statesville City Council 2013-2022, Mayor Pro Tem 2018-2022; Board Member, NC League of Municipalities 2016-2022; Treasurer, Centralina Council of Governments; representative, Charlotte Regional Transportation Planning Organization (CRTPO); Board Member, Economic Development Partnership of NC
♦ Volunteer/community service experience: Lifetime Member and past Deacon, First Presbyterian Church, Statesville; Executive Board, Greater Statesville Chamber of Commerce ; past Board Member, Dove House; past Board member, United Way; Charter Member, Fourth Creek Rotary Club; past Chair, American Red Cross; past Board member, American Heart Association; member, Iredell Health Foundation Professional Advisory Council; volunteer, Big Brothers/Big Sisters of Iredell County; treasurer, Mount Mitchell Community Fund
Q&A
IFN: What motivated you to run for this office? If you are elected, what will your top three priorities be? What can the mayor and council do to move the needle in these areas?
MORGAN: I previously served as a council member at large and Mayor Pro Tem from 2013-2022. I am proud of what we were able to accomplish during that time. We added over a billion dollars of tax base to the city and greatly improved the infrastructure of the city. When Costi Kutteh, our current mayor, decided not to run for another term, I felt it was important for an experienced candidate to run for this important leadership role. I view the city as a $200 million business, run by eight board of directors members (council members) and a chairman of the board (mayor). On November 4, there will be a minimum of four new council members, most with no or little experience. It is important that the mayor have the experience to lead this new council. I have over 17 years of municipal experience and feel I am the best qualified candidate for this task.
My top three priorities are economic development, bringing industry and good paying jobs to the city, maintaining public safety and quality of life, and keeping our infrastructure, roads, water, sewer, and electricity in the best shape possible. Working together as a cohesive body, we should be able to accomplish these goals.
IFN: Voters want their elected officials to understand their lived experiences as they consider policy/budget decisions. Tell us about your family (spouse/partner; children/children; parents/grandparents) and how your family’s experiences in Statesville have shaped your views on major issues where the mayor can make a difference.
MORGAN: I am a lifelong resident of Statesville. My mother taught school for 34 years here and my father owned two clothing stores, one in downtown Statesville and one on Shelton Avenue. I grew up playing in our parks and riding my bike down Shelton Avenue. Both my parents were involved in many civic organizations, including the Chamber of Commerce, Meals on Wheels and Rotary. I learned the importance of giving back to the community that has given us so much. Our family was small. I have no brothers or sisters, but I had lots of friends, many of whom still call Statesville home. As a family, we understood to prioritize what is important: time with family, balancing your wants versus your needs, and making decisions based on what is best for all involved and not just what you feel is best for you individually. It’s that attitude that my wife Tina, daughter Margaret and her family, and I still try to live by. As mayor, the needs of the citizens must come first, and with proper planning, frugal budgeting and effective communication, it can be done. I have seen lean times and worked our way through them. It can be done.
IFN: The City Council has or will soon approve the rezoning and annexation for the massive Compass Data Center project. This project will add an estimated $1 billion or more to the city’s tax base and generate millions of new tax dollars for the city. What will your priorities be for spending this money? As part of your plan, will you support a reduction in the property tax rate to give homeowners some relief?
MORGAN: A billion-dollar project would effectively increase the city’s tax base by 20 percent. With that comes the benefit of an increase in ad valorem tax revenue, although it won’t all happen at once; rather it would be staged over a period of time. The temptation and danger is to spend those funds without proper planning as to what the future may hold. In my profession as an investment advisor, I must always keep a look out for the worst case for my clients. What if they lose their job and need funds? What if the financial markets suffer a prolonged downturn? The same logic should apply in this situation. While we can hope for the best that the data center will be around for a long time, what if for some reason it isn’t? If we have anticipated the ongoing tax revenue to be constant and planned projects around these funds and suddenly it is gone, we have put ourselves in a great deal of trouble and liability. With that in mind, using the funds judiciously to finance projects to accommodate our future growth, our quality of life — like opportunities for recreational facilities — and maintaining public safety makes sense. I would be open to a well thought out discussion of adjusting the tax rate in the city, again remembering what I mentioned before about the chance that it might not continue.
IFN: The cost of housing, including monthly rent and purchase prices for starter homes, has increased dramatically in the last five years. As mayor, would you support the use of taxpayer dollars to help first-time homebuyers? If so, what is your vision for such a program? If not, do you have any ideas for helping residents struggling to pay rent or buy their first home?
MORGAN: One of the proven ways to affect housing affordability is to add better paying jobs to our city, giving citizens the opportunity to buy or rent a home. With interest rates at this time trending downward, the availability of existing homes for sale should increase, driving prices lower. We must embrace housing of all types, from single-family homes to apartment and condos/townhouses, and the addition of workforce housing built by developers using tax credits and federal financing. As the city does with industrial projects, perhaps we need to look at incentivizing developers to build housing to accommodate this market. Cities across the country that have created a housing fund for first-time homebuyers have been met with mixed success and failure, but again, it could be studied. There are experts in this area whose knowledge we should rely on to add advice and suggestions. Finally, any project like this must be well thought out as to how and where the growth in housing in the city should be, keeping in mind the stress it places on the city to provide services to these new residents.
IFN: Iredell-Statesville Schools previously asked the City Council to help fund a pre-K classroom for low-income children to ensure that they are ready to begin kindergarten. The cost was in the neighborhood of $200,000. The council declined to provide funding. If elected, would you support such an initiative? Explain your decision.
MORGAN: Any request for city provided funds requires careful scrutiny and evaluation as it relates to the budget process. All avenues of funding should be pursued, including applying for grants, both at the state and federal level, and matching funding. With my decades of involvement in government, I have made great relationships at the state and federal level and would rely on those to look for help. It is a cliché to say that children are our future, but it is true in many ways. Every child deserves a great beginning to their education. A solid school system helps attract residents as well as industry to our area. I am in full support of looking at ways to accomplish this goal. If the budget allows, I believe the request deserves another look.
IFN: The city has begun addressing some major capital/infrastructure needs in the past two years, but there are many projects still out there. Some fall into the category of “needs” and others are “wants.” What are your priorities in this area? How do you propose paying for them?
MORGAN: Statesville has been blessed with opportunities that have benefited us well with infrastructure needs. We are blessed with water sources, being able to pull from two basins, the Catawba and Yadkin rivers. Previous councils had the foresight to add to our wastewater treatment capacity with the construction of Third Creek Wastewater Treatment facility. As a member of Electricities, we control our electric capacity. However, with growth comes a need to not only keep pace but to anticipate future needs. While on council, I pushed for a credit facility while interest rates were low in order to have availability to do future projects at lower interest rates, but the proposal did not get the support to see that through. With rates trending lower, the borrowing landscape is improving, but still a daunting task to consider funding the over $200 million in proposed capital improvements in the next decade or two.
The ”needs” in the budgetary process should always be put first. After all, you want the lights to come on when you flip the switch, the faucet to provide water when turned on, and the police or fire department to show up if needed. Once those are addressed to satisfaction, the “wants” come into play. As I mentioned earlier, with growth comes a need for added sewer capacity, improved roads, superior public safety and well maintained roads to drive on. Careful budgeting and being a good steward of taxpayer funds is a must, and the last resort is borrowing or addressing the tax situation, neither of which is a pleasant conversation. By attracting new industry to add to the tax base, we may be able to keep up with the demands of the city’s needs.
IFN: There are five candidates running for mayor, each with different backgrounds and experiences. What make you the best candidate to represent ALL residents of Statesville?
MORGAN: I am one of a few candidates that can call Statesville my home for a lifetime. I love this city and its people, as well as our quality of life and all that it affords. As my biography indicated, I have extensive municipal, state and federal government experience, serving over 17 years in these areas. My years of civic involvement has provided me with an insight into the needs of all of our residents. I like to think I am well tuned in to the concerns of our citizens. My door is always open, and my cell phone is always on.
Tina and I are anxiously awaiting the arrival of our first grandchild in late October. I am proud that my daughter Margaret and her family have chosen to live in Statesville, so let’s say I have a vested interest in keeping the qualities that make Statesville great while at the same time planning for and addressing the inevitable growth we will experience. As mayor, I will strive every day to try and make this happen. I look forward to the opportunity to serve this city and its residents once again.