Wilmington City Council held its second regular meeting for the month of February and first up, council declared a number of city-owned properties as surplus, contingent on the potential purchase of Thermo-Fisher’s downtown campus.
Declaring them surplus now allows the city to begin the process of divesting itself of these properties, and enhances the city’s financial position, both before and after the proposed north front street campus purchase.
Next, council approved a resolution which will allow the city to move forward with the issuance of up to $30 million worth of municipal bonds.
These bonds would be used to help pay for already-committed-to capital projects such as street and sidewalk improvements, the nCino Sports Park, improvements to the Riverwalk, and various parks and recreation upgrades.
There will be a public hearing and council will consider a resolution to approve the financing at their March 21st meeting.
City council will meet again on March 7th at 6:30 p.m. For more on this meeting, visit WilmingtonNC.gov.