Both proponents and naysayers of the county’s decision to purchase the mall and pay back the debt through a loan yet to be approved by the Local Government Commission are expected to converge for a public hearing at Rowan County commissioners’ 6 p.m. meeting Monday.
The issue has become a lightning point for debate in the past week, with six of seven commission candidates joining to ask for the postponement of the hearing, Rowan County Manager Gary Page writing a letter to the LGC supporting commissioner’s decision to buy the mall and Commissioner Jon Barber’s subsequent letter to the LGC aimed at countering Page’s points and blasting commissioners’ decisions.
The county’s finance department recently requested and received financing proposals for the purchase of West End Plaza as well as renovations there.
The amount to be financed is $3.95 million over a decade.
County staff has recommended commissioners approve the lowest bid from PNC Bank, with a tax-exempt interest rate of 2.51 percent on $1.45 million and a taxable interest rate of 3.27 percent on $2.5 million.
The rates will result in a total interest cost of $609,057.
A crowd is expected to turn out for the public hearing.
In regard to the 2014-15 budget, Page plans to present the proposed budget to the commissioners Monday.
State law dictates the board must hold a public hearing to allow for citizen input on the proposed budget before the board adopts it.
If commissioners approve the consent agenda as is, the hearing on the budget proposal will be slated for 5:30 p.m. on June 2.
Commissioners also will look at awarding a bid to Crescent Construction Co. for building an office building at Rowan County Airport.
A low bid of $237,728 originally was received from Crescent Construction Co.
According to Page, county staff “had hoped the bids would come in the range of $190,000 to $200,000.”
Working with Crescent Construction and Ramsey, Burgin and Smith Architects, county staff cut out items to bring the construction cost to $194,905.
Carolina Avionics, the building’s future tenant, wanted an additional $9,028 added back to the cost, which includes a laminate wood floor, shower and porch.
Carolina Avionics will foot the bill for the additional items.
If the commissioners approve the consent agenda without a hitch, a new store also will open up in July in West End Plaza.
The board will look at approving a proposed three-year lease agreement between Global Treasures and the county for the retail space.
According to a memo to commissioners from Page, the county will collect rent in a gross amount of $31,200 over the term of the lease.
Global Treasures sells handmade merchandise from around the world.
Commissioners also will consider a voluntary annexation request from the Town of Granite Quarry.
In a Tuesday letter to commissioners, Granite Quarry Mayor William Feather asked commissioners to approve the voluntary annexation of about 92 acres of land on Heilig Road.
“The Town of Granite Quarry will use its best efforts in development of this site and adjacent properties, including marketing and infrastructure needs for the citizens of Granite Quarry and Rowan County,” Feather wrote.
For more information or to download an extensive agenda packet for the meeting, visit the county’s website at www.rowancountync.gov/government/Commission