WILMINGTON, N.C. (WECT) – A state commission is set to vote Tuesday on $20 million in bond financing for the rehabilitation of Solomon Towers, a public housing high-rise at 15 Castle Street where nearly 100 seniors and people with disabilities live.
The North Carolina Local Government Commission will consider the Wilmington Housing Authority’s request at its Aug. 4 meeting in Raleigh. The authority is seeking up to $20 million in conduit revenue bonds to acquire and rehabilitate the 150-unit, 11-story building.
Wilmington City Council unanimously approved the bond plan at its July 21 meeting. The city’s approval was required by federal tax law and did not commit city funds to the project…