RALEIGH — The North Carolina Local Government Commission approved financing requests totaling more than $900 million at its July 1 meeting.
The largest approvals went to Charlotte for $475 million in combined financing to upgrade Spectrum Center to meet NBA requirements, refinance existing debt, and refund water and sewer bonds.
Of the total approved for Charlotte, $130 million for loans similar to limited obligation bonds will go toward modernization upgrades for Spectrum Center, as well as a parking facility and fire house. The upgrades are needed for “venue enhancements are necessary to meet NBA requirements for franchise facilities,” according to a press release from N.C. Treasurer Brad Briner’s office.
The Local Government Commission (LGC) also approved the private financing agreement of $136.5 million for various Spectrum Center modernization upgrades and other governmental facility renovations.
The remaining $210 million will be applied to refund water and sewer revenue bonds.
Briner serves as the chair of the LGC, which oversees and monitors the fiscal health of the more than 1,100 government units in the state. New members joining the LGC for the July meeting included board members Mike Brown, Thomas Stith and Denise Canada, the LGC’s new secretary.
Another large approval was $63 million in limited obligation bonds for Onslow County to equip, renovate and improve county buildings in Jacksonville, plus repair work on a fire station and public safety facility.
Other items approved by the LGC included Nash Healthcare Systems’ $165 million request for a new hospital tower in Rocky Mount, which includes the addition of 150 patient rooms.
Municipal infrastructure projects dominated the remaining approvals, including wastewater treatment expansions in Wilkesboro of $68.6 million and the Cape Fear Public Utility Authority of $26.3 million.
Educational facilities receiving a green light included approval for Dare County’s $26.5 million for an early college building.
The LGC also approved the following requests:
- $795,282, Moore County: Lease 18 stretchers for Emergency Management Services
- $850,000, Cape Carteret (Carteret County): Acquire one acre of waterfront land on Bogue Sound with boat ramp, dock, bulkhead and parking
- $1.3 million, Troutman (Iredell County): Rehabilitate, repair and replace clay pipe and brick manholes to reduce sewer system overflows
- $2 million, Williamston (Martin County): Rehabilitate 6,830 linear feet of sewer lines and replace manholes
- $3.8 million, Lee County: Finance renovations at Central Carolina Community College facilities at the Moore Center Bioprocessing Building
- $7.5 million, Lumberton (Robeson County): Install advanced metering infrastructure for electric utilities and water and sewer services
- $11.5 million, Hendersonville (Henderson County): Improve the city’s water and sewer system, including maintenance and expansion of the water treatment facility
- $44 million, Winston-Salem (Forsyth County): Improvements to parks, recreation facilities, streets, sidewalks and various municipal facilities
