Local Government TV

▼

Friday, August 08, 2025

NorCo Has Sold $32 Million in Bonds For Parking Garage, Will Save $5 Million Over Projected Cost of Repayment

At last night's Northampton County Council meeting, Executive Lamont McClure advised the governing body that the county has sold $32 million in tax-exempt bonds for the construction of a new parking deck. He added that because of its favorable bond rating, it was able to sell them at a lower interest rate than was originally estimated. This means the county will save $5 million in bond payments. 

He indicated that engineers have already embarked on taking core samples to see how far they can go before having to move bedrock. He is pressing "full speed ahead" because "I don't want to leave the next executive and the next county council in a position where they're not prepared to move forward when they're ready to move forward. Once you shut that garage down, there'll be a lot of unhappy people, and you'll want to get that thing knocked down and put up as fast as you possibly can." 

at

8 comments:

  1. AnonymousAugust 8, 2025 at 6:06 AM

    Confused. Was it 32 or 35?

    ReplyDelete
  2. AnonymousAugust 8, 2025 at 6:56 AM

    knock down and put up as fast as you can - no mention of quality or safety.

    ReplyDelete
    Replies
    1. Bernie O'HareAugust 8, 2025 at 9:02 AM

      Give me a break. Quality and safety are givens. But no matter who the next exec is, whether it is Tom or Tara, it is going to be in their interest to get it done as quickly as possible bc the public and employees are going to be inconvenienced. It might be a good time to review why so many people have reserved parking. It makes sense for people whose job requires them to go places routinely, but that is where it should end.

      Delete
  3. AnonymousAugust 8, 2025 at 7:00 AM

    We got to do this quickly to overshadow the gracedale fiasco

    ReplyDelete
  4. AnonymousAugust 8, 2025 at 8:37 AM

    Typical democratic move telling us we saving mopney as spend big time.

    ReplyDelete
  5. AnonymousAugust 8, 2025 at 11:33 AM

    And if the dumbasses in county government and the Council acted when they should have, the new garage would be up by now.

    ReplyDelete
  6. AnonymousAugust 9, 2025 at 6:30 PM

    you are right the new garage and the new building, that they now have the nerve to ask in the meting if if would be cheaper to build them togther as if that was not discussed 12 times already, they are up for re-election, please say no to all of them especially Lori Heffer, John Brownstain, they do not belong in government

    ReplyDelete

You own views are appreciated, especially if they differ from mine. But remember, commenting is a privilege, not a right. I will delete personal attacks or off-topic remarks at my discretion. Comments that play into the tribalism that has consumed this nation will be declined. So will comments alleging voter fraud unless backed up by concrete evidence. If you attack someone personally, I expect you to identify yourself. I will delete criticisms of my comment policy, vulgarities, cut-and-paste jobs from other sources and any suggestion of violence towards anyone. I will also delete sweeping generalizations about mainstream parties or ideologies, i.e. identity politics. My decisions on these matters are made on a case by case basis, and may be affected by my mood that day, my access to the blog at the time the comment was made or other information that isn’t readily apparent.