Local government commission signs off on High Point stadium

High Point Enterprise reports:

The city received unanimous approval Tuesday from the North Carolina Government Commission to borrow $35 million to construct the downtown stadium.

“It’s the final hurdle,” Mayor Jay Wagner said after the vote at the Office of the State Treasurer in Raleigh. “We are excited we cleared it and just excited for the future of our city.”

The commission gave the city permission to issue up to $35 million in limited obligation bonds to build the stadium in an area around Church Avenue, Pine Street and Gatewood Avenue.

“Maybe you can be a shining example of how to do this properly,” State Treasurer Dale Folwell told Wagner and other city representatives on hand. “Nobody is rooting for you more than this commission. Nobody is rooting for High Point more than me. I wish you the best and make us proud.”