Politics & Government
Financing Approved for Town's Main Street Purchase
Town Hall could move into the old BB&T location on Main Street within a few years.
The Board of Commissioners to take the next step in a likely move of to Main Street.
The in August with Branch Banking and Trust Company for the purchase of a 19,700 square-foot building at 33–37 S. Main St. The vacant property was last occupied by .
In order to pay for the property, the town will use $800,000 from its unreserved fund balance and take out a tax-exempt $750,000 loan for the rest, according to the resolution. A $50,000 deposit was made in August.
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The town intends to demolish the existing building, build a new one and pave part of the site for an estimated 33 metered parking spaces. Much of the loan would pay for the demolition, although the town does not have an estimated cost to level the building.
The resolution passed by a vote of 4-1; the only commissioner to object was Robert Reier.
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“I have been against the project since the get-go.” Reier told Patch after the meeting. “I feel like in our current unsettled and fragile economic climate, this just isn’t the time to allocate funds for such a purpose."
