By Mark Wineka
Salisbury Post
Salisbury City Council will hold a public hearing Tuesday and then consider the voluntary annexation of the Holiday Retirement property off Enon Church Road.
The property for annexation consists of more than 9.7 acres.
Holiday Retirement, based in Salem, Ore., plans a 118-suite residence facility for seniors in their 80s who are in good health.
Plans call for the retirement community to be three stories high and 38,613 square feet.
Residents will enjoy shared dining and recreation facilities as well as transportation services.
The council meets at 4 p.m. Tuesday at City Hall, 217 S. Main St. Council meetings are streamed live online at www.salisburync.gov/ council/webcast.html and also shown later on Time Warner Cable’s ACCESS 16.
In another matter, the city has proposed to refinance the lease-purchase arrangement it used five years ago to buy property in the southeast corner of South Main and East Bank streets, which now holds the Farmers’ Market and a former fitness facility.
The city borrowed funds at the time under a 59-month lease with a balloon payment at the end of the lease. The city will refinance the balloon payment, and its finance staff has solicited bids for that refinancing from all local banks and banks which have recently handled lease-purchase arrangements with the city.
Four banks submitted proposals. The finance staff recommends awarding the refinancing contract to First Bank for $906,934.
The financing comes with a 3.25 percent interest rate, 59 equal payments and a balloon payment again due at the end.
In other agenda items Tuesday, the council is scheduled to:
– Consider a budget amendment of $159,287 to reflect costs incurred in connection with the March 7 Salisbury Millwork fire that killed firefighters Victor Isler and Justin Monroe.
– Receive a presentation from the Leadership Rowan Class of 2008 in relation to East Fisher Street festival lights.
– Consider a budget amendment of $12,090 to appropriate a grant from the N.C. Governor’s Highway Safety Program. The grant will be used to purchase checkpoint equipment for the Police Department.
– Consider closing the 200 block of North Lee Street and 100 block of East Liberty Street from 10 a.m.-5 p.m. June 21 for the Art on Easy Street event.
– Consider a budget amendment to reflect $14,259 in donations received by Parks and Recreation.
– Consider a budget amendment of $250,000 to appropriate funds from a Parks and Recreation Trust Fund grant.
– Consider approval of a final subdivision plat for Stoneridge, Phase 2, accept the subdivision’s new streets and adopt an ordinance establishing stop conditions on some streets.
Contact Mark Wineka at 704-797-4263 or mwineka@salisburypost.com.