LGC approves loan for apartment upgrades, including Hamlet’s Piney Pointe

HAMLET — A local apartment complex is one of several across the state slated for rehabilitation with funding approved by the N.C. Local Government Commission.

The LGC recently granted approval for conduit revenue bonds for several housing authorities, including the North Carolina Housing Finance Agency, according to a press release issued Wednesday.

According to the LGC, the bonds will “allow the authorities to loan the proceeds to a third party.”

The NCHFA will loan $16 million to Partnership Property Management of Greensboro to “acquire, rehabilitate and equip about 381 apartment units in 14 rural communities” — including Piney Pointe Apartments in Hamlet.

Partnership Property Management will also use the funds for apartments in Alleghany, Alexander, Avery, Beaufort, Bladen, Columbus, Greene, Halifax, Jackson, Scotland and Robeson counties.

Bonds were also approved for Inlivian Housing in Mecklenburg County and the Durham Housing Authority.

During its July 9 meeting, the LGC also approved bonds for water and sewer projects and financing and bonds for other municipal projects; and returned financial control to the town of Spring Lake in Cumberland County.