CAROLINA BEACH, N.C. (WECT) – Council members in Carolina Beach voted Tuesday night on financing for a $12 million deal to buy nine properties along the town’s boardwalk.
Mayor Lynn Barbee says council approved using a 15-year loan from Truist Bank at roughly 4.5 percent interest. Mayor Barbee said the town will also use two million dollars from reserves and from room occupancy tax revenue to pay down the loan.
The deal does need approval from the North Carolina Local Government Commission before closing…