RFP Staff
♦ Among the items listed on Tuesday’s N.C. Local Government Commission (LGC) agenda are two Rowan County items:
• Approval of a $3.95 million dollar loan meant to both replenish the county’s fund balance from the 2013 purchase of the West End Plaza and provide $500,000 for West End Plaza renovations. The loan is the same as previously submitted, save for lower current interest rates, when the county’s previous application ran into opposition from a small, but vocal group stoked by fears of a “downtown exodus”. Since that time those anxieties and the opposition it motivated, faded out as evidence mounted that current and past commissioners had no intentions of removing large groups of county employees from Salisbury’s badly struggling downtown.
• The $21 million dollar bond refinancing concerns itself with refinancing 2005 general obligation bonds meant for the Rowan-Salisbury schools. This refinancing would produce major savings for the county said to be approximately $1.4 million dollars. Interest rates on the bonds will plummet from 4.24% to 1.81% due to refinancing.
The meeting of the Local Government Commission (LGC) takes place Tuesday May 5th at 2:30 p.m. at 325 N. Salisbury Street in Raleigh.
