RALEIGH — The Local Government Commission approved a $200 million bond for Charlotte’s proposed street and neighborhood projects during its monthly meeting on Oct. 7.
The approval for Charlotte includes a short-term general obligation bond to fund voter-approved projects such as improving traffic flow, repairing bridges and sidewalks, resurfacing streets, and adding infrastructure like sidewalks, bicycle paths and open spaces.
The Local Government Commission (LGC) approvals totaled more than $647 million in debt issuances and financing for various local government units. The LGC is chaired by State Treasurer Brad Briner and oversees the fiscal health of 1,100 local governments and municipalities.
Another large approval was $163 million to the Fayetteville Public Works Commission in Cumberland County to complete 16 water, sewer and electric system capital improvement projects with projected utility rate increases but no tax hikes.
An update was given on the outside audit of Winston-Salem/Forsyth County Schools, but there was no action taken by the LGC.
The North Carolina Medical Care Commission’s requests were approved for two conduit revenue bonds totaling nearly $70 million. According to the press release from Briner’s office, the commission is “empowered to issue tax-exempt bonds to finance construction and equipment projects for hospitals, nursing homes and continuing care facilities for the elderly.”
Financing totaling $35 million was approved by the LGC to “pay all or a portion of the costs” to buy and renovate nine senior living facilities in Burlington (Alamance County), Kernersville (Forsyth County) and Waynesville (Haywood County).
A separate request for $34.2 million was approved for renovating and expanding the Carol Woods retirement community on Weaver Dairy Road in Chapel Hill.
The Catawba Valley Medical Center received an $18.1 million approval for a lease financing agreement to cover medical office space at three sites in Hickory for consolidating and expanding outpatient medical services.
Other spending approved by the LGC included:
- $35 million to Granville County (South Granville Water and Sewer Authority) for short-term financing in anticipation of U.S. Department of Agriculture revenue bonds to design, engineer and build three new lift stations and install 52,000 linear feet of sewer pipe serving the Butner and Creedmoor area.
- $35 million to Lee County (Sanford) for revenue bonds to build a new utility administration building on City Hall campus and acquire land, a water tank, and a reservoir as part of the merger of Siler City’s water and wastewater utilities with Sanford’s Tri-River Water system.
- $23 million to Wake County (Raleigh Housing Authority) for conduit revenue bonds to loan funds to KTJ 427 for acquiring, building and equipping a 152-unit multifamily rental housing development on Strickland Road targeting low-income households.
- $7.8 million to Lee County for limited obligation bonds to purchase two buildings and 4.59 acres of land on Hawkins Avenue for a public safety warehouse to store equipment and materials for the sheriff’s department, fire marshal, emergency management services and the county’s transportation system.
- $7 million to Moore County (Southern Pines) for an installment financing contract to purchase a building and 1.83 acres of land on Broad Street in Pinehurst to meet growth needs of town staff.
- $6.4 million to Northampton County for short-term financing prior to issuance of U.S. Department of Agriculture revenue bonds to install more than 150,000 linear feet of water transmission mains in the vicinity of Severn, Pendleton, Lake Gaston, Pleasant Hill and Conway.
- $4 million to Cleveland County (Shelby) for a general obligation bond for street and sidewalk improvements as part of a $10 million voter-approved issuance, with $6 million previously issued.
- $3.6 million to Lee County (Sanford) for an installment financing contract to upgrade the City Hall campus with a greenway path, restroom facilities, a splash pad, paving, fencing and stormwater culverts.
- $3.2 million to Washington County for a State Revolving Fund loan to install 37,350 linear feet of water line and a pump station along Highway 32, plus additional lines in the Pea Ridge community.
- $1.05 million to Chatham County (Pittsboro) for an installment financing contract to purchase land and a building for use by its parks department.
- $561,133 to Moore County for a lease financing agreement to purchase Taser weapons for the sheriff’s department.
- $400,000 to Harnett County for an N.C. Department of Environmental Quality loan to inventory water service lines to determine the presence of lead and copper materials in compliance with federal regulations.
