P-3 Revolving Loan Spec Building Program

County of Catawba
Program Area:
Community-Based Grants Initiative
County of Applicant:

This award provides funding to Catawba County to establish a county-wide, self-perpetuating, revolving loan program to support public-private partnerships in developing speculative buildings within the county. The program centers around a model of shared risk in which both private (landowners and developers) and public sector (county and municipality) partners maintain some investment in the project as a way of discouraging stranded investment, differentiating it from conventional spec building programs driven by the public sector. The county has used this model to develop spec buildings in the past with all of those buildings being sold. Initially, two speculative buildings will be constructed in five years through this project and are expected to result in $14 million invested in private property, plant, and equipment, and 50 new full-time jobs with an average salary of $48,000. Golden LEAF funding will provide funding for loans to local government entities, if needed, to assist with the interest carrying cost, general insurance, and utilities until the building is sold but for no longer than 36 months.

Ms. Mary S. FurtadoPO Box 389Newton, North Carolina 28658(828) 465-8262
Areas Served:

Any project more than a couple of years old may not reflect current Board priorities.
Please contact a staff member with any questions.

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