Local Government Commission approves $175M bond for Asheville Regional Airport 

This undated photo shows the entrance sign of Asheville Regional Airport

RALEIGH — The North Carolina Local Government Commission (LGC) approved the Greater Asheville Regional Airport Authority’s request for $175 million in transportation revenue bonds to be used for the airport’s expansion and modernization projects.  

The LGC is chaired by State Treasurer Dale Folwell and is staffed by his department. The commission is tasked statutorily with approving most debt issued by units of local government and public authorities and monitoring the financial well-being of more than 1,100 local government units.  

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Funding from the Federal Aviation Authority coupled with the revenue bonds will be used for a new air traffic control tower that is already being built. 

The updates to the airport will double its square footage by updating the “single-story, seven-gate terminal built in the late 1950s to a modern, two-story, 12-gate terminal” according to a press release by Folwell’s office. Additionally, funds will go towards a ticketing lobby, TSA screening area, and baggage claim and concession areas. 

The LGC approved multiple other spending requests at its monthly meeting on the UNC Wilmington campus on April 4.  

Dare County: $49.2 million in limited obligation bonds to build a Dare County EMS facility/fire station in Kill Devil Hills; replace the Southern Shores EMS station; and construct a new Dare MedFlight airport hangar.  

Catawba County: $43.5 million in limited obligation bonds to pay for the demolition of the three-story Maiden Elementary School that opened in 1926 to build a 93,000-square-foot elementary school and ancillary facilities.  

City of Wilmington (New Hanover County): $30 million in limited obligation bonds to improve Water Street Park and Riverfront Park; perform street, sidewalk, streetscape and riverwalk improvements; build and equip a new fire station in the Riverlights community; and equip a sports complex.  

Durham Housing Authority: $21 million in conduit revenue bonds, proceeds of which will be loaned to Hardee Street Housing to pay for construction and equipping of a 132-unit multifamily rental housing development to be called Hardee Street Apartments.  

Raleigh Housing Authority: $17 million in conduit revenue bonds to be loaned to KTJ 382, which will build and equip a 119-unit multifamily rental housing development called The Pines at Peach Pond.  

Sanford (Lee County): $10.6 million in limited obligation bonds to improve its fire-fighting capabilities by building and equipping a new fire station for approximately $8 million and buying two new pumper trucks costing around $800,000 each. 

Orange Water and Sewer Authority (Orange County): $4 million from the state revolving fund to replace aging equipment, increase efficiencies and reduce the risk of failures at the Mason Farm Wastewater Treatment Plant. 

Town of Oak Ridge (Guilford County): $3 million in financing to build Heritage Farm, a new town park with athletic fields, restrooms, picnic shelters, a playground and walking trails.  

Greenville (Pitt County): $2.5 million installment purchase approved by the LGC to replace 10-year-old police and fire department radio equipment. 

Town of Wadesboro (Anson County): $2.2 million in U.S. Department of Agriculture revenue bonds to install water and sewer lines in order to reduce sanitary sewer overflows and to provide water to homes currently served by wells. 

Carolina Beach (New Hanover County): $2 million installment purchase to acquire more than three acres of property on North Lake Park Boulevard to allow for storage of water and recreational facilities. 

City of Newton (Catawba County): $1.9 million installment purchase to acquire a $255,050 garbage truck and $904,950 fire truck. Some of the funds will pay for a culvert replacement project to improve stormwater and water infrastructure. 

Town of Fuquay-Varina (Wake County): $1.6 million in two-thirds revenue bonds to pay for some costs of the planned Community Center North/Senior Center.  

Albemarle (Stanly County): State revolving loan funds increased by $1.5 million to rehabilitate and replace 10,000 feet of 60-year-old sewer line. The original loan and the new funds bring the loan’s cost to $7.7 million. Rate increases will pay for the project, according to the press release. 

Blowing Rock (Watauga and Caldwell Counties): $1.2 million installment purchase for 2,300 more technologically advanced water meters. 

About A.P. Dillon 1346 Articles
A.P. Dillon is a North State Journal reporter located near Raleigh, North Carolina. Find her on Twitter: @APDillon_