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Henderson council approves $8.16 million SEID grant application and two five-year loans for capital projects
Summary
The council authorized submission of a full SCRC SEID grant application for up to $8,158,190 for public infrastructure and approved two five-year loan financings—one with First Citizens Bank for FY25-26 capital equipment and one with Benchmark Bank for splash park completion.
The Henderson City Council on Sept. 8 authorized staff to submit a full application to the Southeast Crescent Regional Commission State Economic and Infrastructure Development (SEID) program for a possible allocation of up to $8,158,190 for public infrastructure projects.
City Manager Hassan T. Kingsberry told the council the City’s preliminary application had been approved and that if awarded, the funds would support public infrastructure work. Council unanimously approved Resolution 25-35-A to submit the full application.
The council also approved a five-year loan financing agreement with First Citizens Bank to purchase capital equipment already approved in the FY25-26 budget. Manager Kingsberry said the loan will allow timely procurement of approved capital outlay items; Resolution 25-39-A passed unanimously.
Additionally, the council authorized a five-year loan with Benchmark Bank to complete the William and Montgomery Street Splash Park; Resolution 25-40-A was approved unanimously. The minutes record that the loan would fund the splash park completion included in the FY25-26 capital program.
What this means: If the SEID grant is awarded, it could leverage significant infrastructure investment for Henderson. The loans authorize financing already included in the adopted capital program and allow the city to proceed with equipment purchases and park completion. The minutes do not specify loan amounts or detailed project budgets beyond the splash park purpose.
