NORTH CAROLINA (WECT) – A proposed $12 million downtown boardwalk land acquisition in Carolina Beach and a fire truck purchase in Lake Waccamaw head to state financial regulators Tuesday for key funding approvals.
The requests were submitted to the North Carolina Local Government Commission (LGC), which oversees local government debt and financial health across the state.
Carolina Beach is asking for authorization to borrow up to $10 million to help purchase nine properties in its downtown boardwalk area. The total acquisition is estimated to cost $12 million, with the remaining balance funded by room occupancy tax proceeds and town cash reserves…