Rowan County commissioners are considering a third multimillion dollar loan in 2015.

Last week, the county began soliciting proposals to finance a $2.5 million loan for renovations at Rowan-Cabarrus Community College North Campus. The largest portion of the loan would pay for heating, ventilation and air conditioning equipment in older buildings at RCCC in Salisbury. A smaller portion would pay for special cabinetry in the North Campus dental lab and various renovations to the college’s Building 300.

A total of $1.9 million would be used for HVAC renovations and $600,000 would be for the dental lab and various renovations, according to RCCC Chief Facilities Services Officer Jonathan Chamberlain.

“These monies will allow the college to improve our facilities and efficiently operate them for the next 20 years,” Chamberlain said in an emailed statement. “Also, as the industry changes, we must frequently keep up with these changes in order to train work-ready graduates and, in this case, providing state-of-the-art dental labs will allow the college’s Dental Assisting Technology grads to integrate seamlessly into the practices where they will be working.”

Previous loans approved in 2015 include $6.5 million to pay for the Rowan-Salisbury School System Central Office and $3.95 million to replenish the county’s fund balance from the former Salisbury Mall purchase and pay for renovations.

County commissioners in 2014 committed to provide $1.9 million for the HVAC, according to Chamberlain. The funding was originally included in a $6.6 million loan proposal that included replenishing the fund balance for purchase of the former mall.

The HVAC renovations, more commonly referred to as the “chiller plant,” would replace equipment near the end of its useful life, Chamberlain said. By consolidating the replacement with Health Science Program renovations, including the dental lab, he said the school could purchase higher efficiency equipment and save about $100,000 per year in energy costs.

Commissioners are scheduled to only briefly consider the $2.5 million loan as a part of their consent agenda during a Monday meeting at 6 p.m. in the county administration building. The only scheduled vote is to set a public hearing on Sept. 8 for the loan. A final approval by county commissioners could come immediately after the public hearing.

County documents show the desired term of the loan as 10 years. The county would close the loan on Oct. 15 and start payments on April 1, 2016, according to county documents. The loan’s term would mean Rowan County would pay the loan off in 2025.

Loan proposals are due on Aug. 19, according to county documents.

Once county commissioners approve the loan, it would next require approval from the Local Government Commission — a financial regulatory agency for North Carolina.

The full meeting of the Local Government Commission is Oct. 6.

Contact reporter Josh Bergeron at 704-797-4246