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Alleghany County to use $1.3 million interest-free loan for transfer station pending LGC approval
Summary
County staff said a 10-year, interest-free loan totaling $1.3 million — $1,000,000 from Blue Ridge Energy and $300,000 from USDA — will be used for the transfer facility and will be placed in the enterprise fund; the county still needs LGC approval.
County staff said the county has a 10-year, interest-free loan totaling $1,300,000 earmarked for the county transfer facility. "There's, like, 1000000 coming from Blue Ridge Energy...and then there's 300,000 that comes from USDA," the staff member said during the briefing.
The staff member confirmed the loan carries no interest and reiterated its 10-year term. "No interest," the staff member said, describing the financing as similar to an earlier public library loan and noting that the county must still obtain the LGC's blessing for the amount.
Officials said the loan will be incorporated into the transfer facility's enterprise fund, which changes how the debt will be recorded and managed. "This will be incorporated in the enterprise fund...for the transfer facility," the staff member said.
Presenter-level staff thanked individuals involved in arranging the funding and described ongoing efforts to identify additional project opportunities. The presenter singled out April and David "for all the hard work" and said Rahel, who joined after initial arrangements, is continuing to pursue options for the auditorium, ball fields and transfer station.
No formal vote or final approval on the loan was recorded during the discussion. County staff said the next step is to secure the LGC approval before the loan is finalized.
