WILMINGTON, NC (WWAY) — During their meeting Tuesday night, Wilmington City Council approved financing the $3.3 million used to purchase the Water Street parking deck, with an interest rate no higher than four percent.
In July, council voted to approve purchasing the parking deck. The money will cover both the cost of buying the deck as well as whatever council members choose to do with it. Several options have been discussed, like tearing it down to build a park and possibly renovating it. However, a final decision will be made at council’s September meeting.
A public hearing was held, however no one came up to speak.