RALEIGH — The North Carolina Local Government Commission approved financing totaling more than $1.1 billion at its December meeting.
Key approvals focused on retirement communities and health care, including $395 million in conduit revenue bonds to Buncombe County for Deerfield Episcopal Retirement Community in Asheville to expand its continuing care retirement community and $275.67 million to Iredell County for Duke University Health System to refinance its acquisition of Lake Norman Regional Medical Center in Mooresville.
The Duke Health System request was submitted by the North Carolina Medical Care Commission (NCMCC) for a tax-exempt conduit revenue bond and was one of three NCMCC requests approved.
The Local Government Commission (LGC) also approved $265 million in revenue bonds for the city of Raleigh to obtain lower-cost permanent financing, $45 million in limited obligation bonds for Henderson County to construct a new UNC Health Pardee medical office building and $40 million for Wilson County to build a new elementary school and multiple county facilities.
Additional multimillion approvals included $31.5 million for Triad Goodwill’s Sustainability and Opportunity Campus in Greensboro, $29 million for a 160-unit affordable housing project in Durham, $24 million each for affordable housing in Woodfin and general obligation bonds for streets, parks and stormwater in New Bern, and $20.5 million for a 180-unit low-income housing development in Winston-Salem.
Smaller approvals ranged from housing, education, public safety and infrastructure projects across multiple counties to landfill, sewer and water system improvements.
A full list of approvals can be accessed in a Dec. 2 press release on the Office of the State Treasurer’s website at nctreasurer.gov/news/press-releases
The LGC, which oversees the fiscal health of more than 1,100 local governments, is chaired by State Treasurer Brad Briner.
A press release from Briner’s office noted the North Carolina Capital Facilities Finance Agency (NCCFFA) met before the LGC’s meeting and approved a request from Guilford County for a $31.5 million conduit revenue bond with proceeds directed to the Triad Goodwill to finance the construction and outfitting of the Sustainability Center in Greensboro for recycling.
Briner, who chairs the NCCFFA, “pushed to revise agency guidelines to lengthen the amount of time bonds mature from 20 or 25 years to 40 years in an attempt to make financing through NCCFFA more attractive than taking the business out of state,” according to a press release.
Additionally, Gov. Josh Stein appointee Betty Parker joined the board for her first meeting.
