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HAMLET – A local apartment complex is one of several across the state planned for redevelopment using funds approved by the NC Local Government Commission.

According to a press release issued Wednesday, the LGC recently approved conduit revenue bonds for several housing authorities, including the North Carolina Housing Finance Agency.

According to LGC, the bonds will “enable the authorities to lend the proceeds to third parties.”

The NCHFA will provide a $16 million loan to Greensboro-based Partnership Property Management to “acquire, rehabilitate and equip approximately 381 housing units in 14 rural communities” – including the Piney Pointe Apartments in Hamlet.

Partnership Property Management will also use the funds for apartments in Alleghany, Alexander, Avery, Beaufort, Bladen, Columbus, Greene, Halifax, Jackson, Scotland and Robeson counties.

Additionally, bonds were approved for Inlivian Housing in Mecklenburg County and the Durham Housing Authority.

During its July 9 meeting, the LGC also approved bonds for water and sewer projects, as well as financing and bonds for other municipal projects, and returned financial control to the City of Spring Lake in Cumberland County.