Yesterday, the Cumberland County Board of Commissioners unanimously approved the Capital Project Budget Ordinance.
The Capital Project Budget Ordinance will be used to establish the budget for a multipurpose center project in an amount to not exceed $82.5M.
The budget includes the estimated $80 million cost that was part of the study presented in September 2021 to the Board of Commissioners. The additional cost is approximately $2 million for the owner’s agent and $500,000 in estimated debt issuance costs.
Debt takeout is expected to occur in early 2024, before construction begins.
“It’s a big day for Cumberland County,” said Commissioner Jimmy Keefe, who is chairing the board’s Multi-Purpose Event Center Committee.
The following are the projected expenditures appropriated for the project:
Surveying $ 48,000
License & permits $ 100,000
Contingency $ 9,052,000
Architect $ 5,500,000
Owners Agent $ 2,200,000
Engineering (Geotech) $ 100,000
Construction $ 65,000,000
Debt Issuance Costs $ 500,000
Transfer to the Food and Beverage Fund $ 2,500,000
The following associated revenue is appropriated for this project:
Proceeds from Debt Issuance $ 82,500,000
Transfer from the Food and Beverage Fund $ 2,500,000
The Cumberland County Board of Commissioners and the Civic Center Commission decided to also replace the Crown Theatre rather than spend funds to renovate.
Smith Douglas Homes has launched its notable development called Cape Overlook, a 63.95-acre subdivision situated on the Cape Fear River near Wildlife Road.
Walsingham Group Inc., an organization federally recognized for its efforts and emphasis on hiring Veterans is partnering with local and national organizations to recruit, hire and retain Veteran talent. Photo generated using Canva AI.Walsingham Grou
Costumed actors will roam the streets, carriage rides will guide visitors throughout and the traditional candlelight processional and illumination ceremony will be included at this year’s A Dickens Holiday. Photo provided by A Dickens Holiday, taken
