I am asking Town Council to approve two actions tomorrow evening relating to the new Town Hall.
First, I am asking Council to authorize the purchase approximately 1.5 acres out of the parcel at 1109 Camp Road. A portion of this will be added to the Town Hall site made up of 1122 and 1126 Dills Bluff Road, bringing the total size of the site up to 2 acres. This parcel is next door to the former Apple Charter School on Camp Road. The Town will retain the back portion of the parcel, which is adjacent to the other two parcels. If approved, I plan to close on the purchase in early March.
Second, I am asking Council to pass a resolution that will allow any funds expended on Town Hall, including for the land, to be reimbursed from what we will raise from our Lease-Purchase financing. In effect, the Town will borrow monies from our unencumbered funds balance to make expenditures now. Later, perhaps as soon as the March meeting of Council, the Lease-Purchase financing agreement will be ready to present to Council. Once that financing is obtained, the monies will be reimbursed to the Town and so will be available for drainage projects, sidewalks, and road paving.
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