State approves $600M in borrowing for North Carolina municipalities

Charlotte is poised to borrow more than $100 million for public safety and housing development projects.

North Carolina’s Local Government Commission (LGC) unanimously approved Charlotte’s plan Tuesday to borrow nearly $125 million for police and fire stations, a police helicopter and to fund other capital improvement projects. The Charlotte Housing Authority also received unanimous approval to borrow more than $40 million in bonds for two multiple-family housing developments.