Rocky Mount Council reviews utility rate options amid financial implications

The Rocky Mount City Council meeting on March 24, 2025, focused on several key issues, including the performance of the city's event center, a proposed amendment to downtown investment grants, and discussions surrounding utility rates.

During the meeting, council members praised the event center for its success, noting that it has exceeded expectations in terms of growth and community impact. Councilman Joiner highlighted the center's ability to attract visitors and generate commercial opportunities for downtown Rocky Mount, suggesting that this success could encourage businesses to relocate to the area.

The council also considered a first amendment to the downtown major investment incentive grants for Dukes Properties and Construction. The amendment would allow for an early draw of $100,000 to address unexpected costs related to life safety code requirements for a renovation project at 216 South Washington Street. The council unanimously approved this amendment.

Another significant topic was the discussion of utility rates. City Manager Peter Varney presented options from the North Carolina Eastern Municipal Power Agency (NEMPA) regarding rate adjustments due to recent financial anomalies. The council reviewed two options for addressing a projected $40 million rate true-up, which would impact the city's financial planning. The first option involves a larger upfront rate increase, while the second proposes more gradual increases over time. The council plans to meet again to further discuss these options and their implications for residents.

In addition to these discussions, the council tabled the appointment of a new library board member to allow for further review of candidates. The meeting concluded with a commitment to continue exploring utility rate options and their potential effects on the community.