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Council approves annexation, rezoning and $6.8 million bond authorization for stadium work
Summary
High Point City Council approved an annexation and zoning change for a commercial development in Ward 6 and authorized limited-obligation borrowing to reimburse prior stadium modification costs for Truist Point.
High Point City Council voted to approve an annexation and a zoning map amendment for a commercial project in the northern planning area and adopted an initial resolution authorizing up to $6,800,000 in limited-obligation bonds to reimburse earlier stadium modification expenses.
The annexation and separate zoning amendment—filed as items 2025-058 and 2025-059 on the agenda—were continued from the council's Feb. 17 meeting and recommended for approval by planning staff and the Planning & Zoning Commission. During the meeting the applicant, Mark Isaacs of Racetrack (address noted as 804 Green Valley Road, Greensboro), and members of the project team were present to answer questions. Councilmembers voted to approve both items; the mayor made the motions and they were seconded from the dais.
The council also adopted an initial resolution to authorize limited-obligation bonds up to $6.8 million to reimburse the city for previously incurred costs tied to stadium modifications at Truist Point. Bobby Fitzjohn, the city's financial services director, told the council staff issued a request for proposals and received six proposals; staff recommended a 15-year financing option from TD Bank. “The TD Bank proposal had a 5.53, 15 year option with a call date of 04/01/2028,” Fitzjohn said. He also said the city selected a 15-year term rather than 20 years and “saved about $1,000,000 by shortening the term.”
Why it matters: the annexation and rezoning permit new commercial development in Ward 6, which council members said supports local economic growth. The bond authorization reimburses the city for prior capital work to ready Truist Point for a professional soccer team and aligns with the city's debt-management model.
Details and next steps: council approved the items during the meeting after public hearings were closed; staff will proceed with the agreed financing arrangement and complete the annexation and rezoning administrative steps.
Votes at a glance: - Item 2025-058 (Annexation: Parish Trust / Tickle Heirs / SBA Towers X LLC): motion to approve made from the dais; seconded; outcome: approved by voice vote. - Item 2025-059 (Zoning map amendment to support the same commercial development): motion to approve made from the dais; seconded; outcome: approved by voice vote. - Item 2025-066 (Initial resolution authorizing limited-obligation bonds up to $6,800,000 for stadium modifications at Truist Point): motion to adopt made from the dais; seconded; outcome: approved by voice vote.
No roll-call tallies were read into the record during these votes; motions passed by voice with the mayor prompting “all those in favor, please signify by saying aye” and the chair announcing “the ayes have it.”
