North Carolina’s Local Government Commission (LGC) has approved a survival plan for the struggling Randolph Hospital that includes a potential $12 million loan for a startup company to buy the Asheboro-based health system.
The 145-bed community hospital, which has more than tripled in size since it was created in 1928, entered Chapter 11 bankruptcy. Randolph County Commissioners Chairman Darrell Frye told the LGC on Tuesday, May 4, that community health care is in crisis mode.
The Local Government Commission (LGC) unanimously approved a resolution recommending that the General Assembly repeal the town charter of East Laurinburg. The action was taken after town officials failed to file state-required financial audit reports the past four years and failed repeatedly to comply with other requirements of the Local Government Budget and Fiscal Control Act.
The Local Government Commission (LGC) has approved a request by rapidly-growing Union County to borrow up to $331 million in bonds to build new water and sewer system infrastructure and upgrade existing facilities.
The LGC, chaired by State Treasurer Dale R. Folwell, CPA, and staffed by Department of State Treasurer personnel, convened remotely at 2:30 p.m. Tuesday, March 2, to consider numerous requests from local government units across the state to borrow money or refinance existing debt at lower interest rates.
State Treasurer Dale R. Folwell, CPA, announced today the results of the 2021 Debt Affordability Study, advising the Governor and General Assembly on the estimated debt capacity of the General and Transportation Funds for the upcoming 10 fiscal years.
The first round of study grants approved under a new program could lead to solutions for utility infrastructure woes threatening the financial stability of three distressed local governments.
(Raleigh, N.C.) – CaroMont Health Inc. received an important approval this week to move forward with its plan to build and equip a four-story patient hospital care tower in Gastonia.
The action was one of 13 items approved by the Local Government Commission (LGC) totaling more than $300 million worth of school, park, municipal building and infrastructure projects spanning 11 counties across the state. Click here for the full agenda.
State Treasurer Dale R. Folwell, CPA, today asked the owners of the ferry system between Southport, N.C., and Bald Head Island to give the entire system to the Village of Bald Head Island or the Bald Head Island Transportation Authority (BHITA). A proposal to sell the ferry system has been in the works since 2017 when legislation was passed to facilitate the sale. A gift could generate tremendous tax benefits to the family or estate.
The Local Government Commission (LGC), chaired by State Treasurer Dale R. Folwell, CPA, voted on Tuesday, Dec. 1, to approve more than $57 million in municipal financing requests that include construction and purchase of police and fire buildings and other municipal facilities.
State Treasurer Dale R. Folwell, CPA, announced today that four local governments have been designated as distressed units that could qualify for funding to develop long-term solutions for their water and wastewater systems.
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.