LLCA will request financing for new school

Issuance of $9 million in education revenue bonds
Aug. 13, 2013 @ 08:56 AM

Lake Lure Town Council will hold a public hearing at 7 p.m. today regarding the issuance of $9 million in education revenue bonds for the construction of a new Lake Lure Classical Academy (LLCA) facility.

Since Lake Lure is the nearest government entity to LLCA, town council is conducting the formal public hearing for LLCA  and the subsequent business in order for the school to apply for financing for the tax-exempt bonds. 

Town Manager Chris Braund said LLCA plans to ask for financing through a public finance authority in Wisconsin, similar to the one that financed the Thomas Jefferson Classical Academy's grammar school.

Braund said Council will conduct a public hearing and consider the adoption of a resolution approving the issuance of $9 million of the Public Finance Authority Education Revenue Bonds. 

After the formalities are completed, Braund said the construction site off N.C. 9  (across from Ingles market), and construction plans will be finalized and the school will move toward the bond financing. 

Within a couple of months, there could be some construction activity at the site, he said.

The school is currently located at 2520 Memorial Highway in Lake Lure and the first day of school is Wednesday, Aug. 14.

Also Tuesday night, the Lake Lure Town Council will consider a request regarding the Dirty Dancing Festival that begins Friday night and continues through Saturday.

The town will consider approving a request from the Lake Lure Fire Dept. about a brush truck; will consider a request from a resident regarding waiving a requirement that her home be connected to the town's waste water system.

Council will also consider approval of recommendations for town property near Boys Camp Road.