NC commission approves more than $814 million in public financing
The approved financing covers water systems, PFAS treatment, stormwater projects, schools, public safety facilities and affordable housing.
RALEIGH — The North Carolina Local Government Commission approved more than $814 million in financing requests Tuesday for public infrastructure, schools, housing and public safety projects across the state.
The approvals include financing for drinking water and wastewater systems, PFAS treatment, stormwater improvements, school renovations, public safety facilities, affordable housing and senior living projects.
Greensboro received approval for up to $290 million in revenue bond anticipation notes for improvements to its water and sewer system. The proposed work includes upgrades at the T.Z. Osborne Wastewater Treatment Plant and PFAS-removal improvements at the Mitchell and Lake Townsend water treatment plants.
The commission considered Greensboro’s request separately because financial performance indicators of concern were identified in the city’s most recent audit. Commission staff reviewed the city’s corrective-action plan and determined its response was acceptable, according to the Department of State Treasurer.
The commission also approved $62.5 million in State Revolving Fund loans for the Fayetteville Public Works Commission to construct granular activated carbon facilities intended to remove PFAS from drinking water. Fayetteville received approval for up to $67 million in future revenue bonds to complete financing for the same project.
Charlotte received approval for $110 million in revenue bond anticipation notes for flood-control projects and other stormwater-system improvements.
Other approvals included $13.5 million for Guilford County to purchase body-worn cameras and related equipment for the sheriff’s office.
Lincoln County received approval for $26 million for renovations at Rock Springs and Catawba Springs elementary schools. Person County received approval for $10.2 million for improvements at four elementary schools.
The Wilmington Housing Authority received approval for $20 million in conduit revenue bonds to acquire and rehabilitate Solomon Towers, a 150-unit affordable housing community.
The commission also approved up to $200 million in conduit revenue bonds for improvements at The Sharon at SouthPark, a continuing-care retirement community in Charlotte.
Additional approvals included water and sewer work in Oxford, a new police and fire facility in Valdese and public safety and utility vehicles in Newport and Norwood.
The Local Government Commission reviews most debt proposed by North Carolina local governments and public authorities. It examines whether proposed borrowing is reasonable and whether the government or authority can afford repayment.
Editor’s note: This article was drafted with the assistance of artificial intelligence and was reviewed and fact-checked by a member of the NC Political News editorial team before publication.
