(Raleigh, N.C.) – The Local Government Commission (LGC) is scheduled to take action at its meeting on Tuesday, Nov. 10, to clear the way for financially struggling local governments to be declared distressed governmental units under Viable Utility Reserve legislation introduced in Session Law 2020-79.
The LGC and State Water Infrastructure Authority jointly developed the criteria and assessment process to identify distressed units. The distressed designation is the first step in identifying and implementing long-term solutions for the water and wastewater systems in these communities.
The LGC, chaired by State Treasurer Dale R. Folwell, CPA, and staffed by Department of State Treasurer personnel, will consider a resolution to adopt criteria and identify governmental units that qualify for an initial round of Viable Utility Reserve funding.
Resolutions will be voted on to issue notices of warning to several municipalities for noncompliance with statutory requirements to submit annual audits to the LGC. The municipalities will be given 30 days to show they are correcting the issues by hiring outside entities to complete and file the audits. They are:
- Wilkesboro, the county seat of Wilkes County. Failure to submit annual audits for 2018 and 2019.
- Castalia, in Nash County. Failure to submit annual audits for 2017, 2018 and 2019.
- Ronda, in Wilkes County. Failure to submit annual audits for 2018 and 2019.
The Wake County Housing Authority is seeking approval of up to $26.1 million in bonds for low-income housing. The bonds would be used to provide a loan to VOA Affordable Housing to acquire, build and equip 216 apartment units in Raleigh.
The LGC will vote on a request by the Henderson County Hospital Corporation for up to $14.5 million in N.C. Hospital Revenue Bonds to upgrade the county-owned Margaret R. Pardee Memorial Hospital. Roof replacement, parking lot construction, plumbing, HVAC and boiler maintenance and improvements are included.
Among other business, a vote will be taken on a request by the Town of Woodfin for general obligation bonds not to exceed $3 million. The Buncombe County town would use the money for construction of parks facilities and greenways.
What: Local Government Commission November meeting
When: Tuesday, Nov. 10 at 2:30 PM
How: (415) 930-5321
Access Code: 520-654-571