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Blowing Rock council authorizes solicitation for roughly $2.25 million installment loan to fund park, land and fire station upgrades
Summary
Council authorized staff to solicit bids and to file an application with the Local Government Commission for an approximately $2.25 million, 10‑year installment loan to fund Colas Memorial Park work, two land purchases, and upgrades at Fire Station 1 (Station 1 would be used as collateral).
The Blowing Rock Town Council on July 8 approved a motion authorizing town staff to solicit bids and proceed with an application to the North Carolina Local Government Commission (LGC) for an installment loan of approximately $2,250,000 to fund several capital projects.
Town staff member Mr. Fox outlined the proposal at a public hearing required by statute, saying the loan would cover the Colas Memorial Park project, purchase two parcels, and pay for needed upgrades at Fire Station 1. "The loan would cover the Colas Memorial Park project along with the purchase of 2 parcels of property and the much needed upgrades at Fire Station 1," Fox said. He noted the town proposes to use Fire Station 1 as collateral if the council moves forward.
Key terms and schedule: Fox said staff and the town's financial advisors proposed a 10‑year amortization schedule (first payment due in 2026) and outlined a calendar to distribute an RFP on July 15, receive proposals by August 5, seek LGC approval on September 2, and return to council for final action on September 9 should the LGC timeline permit.
Council action: After the public hearing was opened and closed in the meeting, the council moved and approved authorization for staff to proceed with the RFP distribution and the LGC application. Mr. Fox said staff will return with bid results and a formal recommendation; the LGC has final authority to approve the loan application.
What happens next: Staff will issue the RFP as scheduled, accept bids, evaluate options and present a formal recommendation to council; any final borrowing requires LGC approval before the town can execute the loan.
