Carolina Beach plans beachfront park development using grant funds
What happened
The Town of Carolina Beach is planning its beachfront park development across nine downtown properties, which the town purchased for $12 million in a lawsuit settlement. The town is consulting with the Development Finance Initiative at the UNC School of Government to guide design plans and contract developers for the properties along the Carolina Beach Boardwalk. The town plans to use $114,700 from its $3.5-million The Endowment grant to pay for design services over two years.
From portcitydaily.com
Why it matters
The project involves significant public investment in downtown real estate and aims to guide community and economic development. The town intends to bring in commercial projects for the properties not designated for the public park portion.
From portcitydaily.com
Who's involved
- OakleyTown Manager of Carolina Beach, leading efforts to secure private investment
- LecompteTown in Louisiana, though the report details activity in Carolina Beach
- Farmers Home AdministrationU.S. federal agency involved in extending credit for agriculture and rural development
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Farmers Home AdministrationSpeculative
The Farmers Home Administration might see increased demand for its credit programs due to local economic growth.