In a significant move to uplift the educational facilities across Orange County, the Local Government Commission (LGC) chaired by State Treasurer Brad Briner, has given the green signal for Orange County to issue $378 million in bonds. The decision comes after a clear mandate from the public, where over two-thirds of voters gave their nod through a referendum in support of the initiatives, setting the stage for revamping the aging infrastructure of Orange County Schools and Chapel Hill-Carrboro City Schools, as reported by the Department of State Treasurer.
With the approval, Orange County Schools will have $125 million at its disposal and is weighing up possibilities, which include replacing or the construction of new facilities like Orange Middle School, Central Elementary School, and near Gravelly Hill Middle School; the LGC's due diligence ensures that the borrowed funds are deemed adequate and reasonable for such projected enhancements, Chapel Hill-Carrboro City Schools will be buffered by a $175 million allocation from the bonds for the replacement of Carrboro, Estes Hills, and Frank Porter Graham Bilingue elementary schools, signaling prioritization of modernizing educational environments for coming generations. Additionally, $78 million in limited obligation bonds have also been approved for Orange County which will be channeled into maintenance, equipment, and the county-owned Sportsplex enhancements, among other uses.
Meanwhile, High Point from Guilford County has the LGC's nod for $40 million revenue bonds slated for water and sewer system improvements, Asheville in Buncombe County is set to issue $35 million limited obligation bonds aimed at getting its baseball field up to Major League Baseball standards, and New Hanover County is now cleared for $22 million in bonds to invest across a diverse array of projects, including park construction, environmental education facilities, and emergency service equipment.
Injecting further into the housing sector, the LGC has also taken affirmative action with the Raleigh Housing Authority in Wake County, with a $19 million conduit revenue bond decision that will assist in the realization of Burrell Lofts on Garner Road, promising to incorporate 120 multifamily residential rental units as affordable housing options; Union County will see $13 million in two-thirds general obligation bonds for expanding its judicial and government center spaces, Catawba County will aim to enhance its medical outreach with a $9.4 million financing agreement, and an array of smaller financial applications across various counties including Hillsborough, Statesville, Holly Ridge, Yadkin County Schools have also been sanctioned, earmarking funds for imperative infrastructural modifications and improvements.
