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Haywood County approves taking a 'bridge' loan option for recovery; public raises transparency concerns
Summary
Commissioners approved a consent agenda that included accepting a state Round 3 bridge loan option of about $998,885.37 to help cover disaster-related costs while FEMA reimbursements are pending; a resident, Vicki Rogers, urged more transparency about the loan terms and purpose.
During the Sept. 2 meeting a resident, Vicki Rogers, told the board she opposed the county taking the state's Round 3 loan and sought clarity on its purpose and repayment schedule.
"I'm speaking against your round 3 loan with the State Department of North Carolina, for $998,885.37," Rogers said, asking, "What specifically is this money going for?"
County staff and a presenter explained the loan is intended as a bridge to cover immediate disaster-related costs—debris removal and other recovery work—until FEMA reimbursements arrive. Staff said some local governments have used the bridge loans to show need and gain extra points on subsequent grant applications.
Christian, who presented technical terms for the item, said the loan carries 0% interest, has no prepayment penalty, and must be paid in full by June 30, 2030. "There is no prepayment penalty. The loan has to be paid in full by 06/30/2030," Christian said, adding the county uses the loan to manage cash flow in the face of roughly $16,000,000 in debris-related costs the county is handling.
Commissioners asked clarifying questions and the board approved the consent agenda (which included the loan item) by a unanimous voice vote.
Why it matters: Taking a bridge loan shifts short-term cashflow responsibility to the county while reimbursable expenses await federal aid; residents asked for clearer disclosure of how loan proceeds would be allocated.
