North Carolina Construction News staff writer
The North Carolina local government commission voted this week to approve the City of Wilmington’s financing application to purchase a northern downtown campus.
“I appreciate the commission’s vote of approval on this incredible opportunity for the City of Wilmington,” said Mayor Bill Saffo. “This purchase will make a large parking deck available to the public right next to Riverfront Park, consolidate many operations under one roof, and sell off aging buildings so we don’t have to pour more money into them.
“Most importantly, we can do all of this without a tax increase and at significant cost savings to taxpayers.”
The city’s offer to purchase the 12.5-acre campus in northern downtown aims to meet growing downtown parking needs and bring multiple operations together in one location. The proposal does not require a tax increase. By selling surplus properties and creatively adapting the campus to meet current and future needs, this transaction would also allow the city to avoid major upcoming maintenance expenses for several aging office facilities.
Any transaction by a municipal government requires financial approval of the State of North Carolina’s Local Government Commission. With approval from the commission, city staff will now work to conclude the process and potentially close on the property in mid-July.