Commissioners approve grants, tax-exempt financing
Published 9:14 am Tuesday, July 7, 2020
Stanly County Commissioners Monday evening approved a grant application, a business development grant and tax-exempt financing for a local fire department.
The board approved a grant application for to the N.C. Department of Commerce for a $750,000 Community Development Block Grant focused on low- to moderate-income housing rehabilitation and emergency repairs.
‘This is a neighborhood revitalization program,” said presenter James Luster, of Centralina Council of Governments.
The state is offering approximately $10 million this year and the maximum grant amount is $750,000 for CDBG activities, Luster said.
Eligible applicants include individuals over age 62, low- and moderate-income families and owner-occupied individuals, Luster said. It would be a 30-month project if awarded.
People have until July 15 to apply for the grant.
The board approved a tax-exempt 2.6 percent loan for the Endy Volunteer Fire Department. The loan will help the department finance up to $691,000 for the purchase of a new Ferrara engine truck and to refinance a T-440 Kenworth tanker truck, which was purchased last fall.
The loan term is from January 2021 through July 2035, County Manager Andy Lucas said.
The board also approved a six-year, 60 percent business development grant between Stanly County and an existing manufacturer of commercial paper products in Oakboro.
The company will invest a minimum of $8.5 million and create 26 new jobs. Real property improvements of $500,000 are included, with the rest designated for machinery and new equipment.
In other business, the board:
- Reappointed Janice Abernathy and Dr. Joan Eudy to two-year terms as delegates for the Region F Aging Advisory Committee.
- Approved the FY 2020-2021 Stanly County Aging Funding Plan for $448,582.
- Adopted the housing assistance policy and the procurement and disbursement policy for the 2020 Single Family Rehabilitation Grant, which totals $190,000.
- Reappointed Shirley Hatley to a second term on the Library Board of Trustees and appointed Lindsay Fulk to complete the term of Dana Glenn, who recently moved out of state. The term lasts through June 30, 2024.
The next scheduled meeting is 6 p.m. Aug. 10.