North Carolina Unlocks Millions in Vital Infrastructure Funding
The North Carolina Local Government Commission, under the leadership of State Treasurer Dale Folwell, has approved a significant influx of funding to address critical infrastructure needs across the state. This move will empower local governments to tackle a range of projects, from school renovations to water system upgrades, positioning North Carolina for a brighter, more resilient future.Empowering Local Governments to Thrive
Investing in Education Infrastructure
The Local Government Commission has approved $73 million in limited obligation bonds for Rowan County to repair and replace aging school facilities within the Rowan-Salisbury and Kannapolis City school systems. This investment will ensure that students in these communities have access to modern, well-equipped learning environments, laying the foundation for their academic success. Notably, the county plans to utilize general fund resources to repay the bonds, avoiding the need for tax increases.Constructing a State-of-the-Art High School
In Macon County, the commission has approved $69 million in limited obligation bonds to assist in the construction of a new high school, expected to cost over $100 million. This project is further bolstered by a $62 million state need-based capital fund grant, demonstrating a collaborative effort to provide students with a cutting-edge educational facility.Upgrading Water and Sewer Infrastructure
The Onslow County Water and Sewer Authority has received approval for $35 million in revenue bonds to fund the construction of a seven-mile sewer main and two new pump stations. This investment will enhance the region's water and sewer infrastructure, ensuring reliable and efficient service for residents and businesses.Expanding Healthcare Facilities
The North Carolina Medical Care Commission has secured $35 million in conduit revenue bonds to support EveryAge, a not-for-profit organization that owns and operates continuing care retirement communities. These funds will be used to purchase the skilled nursing and assisted-living portions of a retirement community, expanding access to high-quality healthcare services for the state's aging population.Modernizing Emergency Communications and Public Spaces
The commission has also approved $28 million in limited obligation bonds for Lee County, which will be used to build a new library in O.T. Sloan Park and purchase critical emergency communications equipment. This investment will enhance the community's public infrastructure, improving access to educational resources and strengthening emergency response capabilities.Unlocking Cabarrus County's Ambitious Plans
The Local Government Commission has agreed to discuss two bond requests from Cabarrus County at its October meeting. These requests, totaling $42 million, will support the construction of a human services center and the acquisition of land for a regional behavioral health center. This strategic investment will address pressing community needs and expand access to essential services.A Comprehensive Approach to Infrastructure Development
The North Carolina Local Government Commission's approval of these diverse financing requests, totaling $355 million, demonstrates a comprehensive and proactive approach to infrastructure development across the state. By empowering local governments to tackle a wide range of projects, from education and healthcare to water systems and public spaces, the commission is positioning North Carolina for long-term growth, resilience, and improved quality of life for its residents.
