Cleveland County authorizes $8.5 million financing for Shell Building 4, selects Truist Bank proposal
The board approved an $8.5 million installment financing agreement and selected Truist Bank's 10-year taxable proposal to finance Shell Building 4; the county expects to split debt service with the City of Shelby if sale does not occur before first payment.
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The Cleveland County Board of Commissioners on Jan. 20 adopted a resolution to authorize an $8.5 million installment financing agreement to build a fourth shell building for economic development and authorized county staff to close financing with Truist Bank.
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