WILMINGTON, NC (WWAY) — The Wilmington City Council got to work at their Tuesday meeting covering a wide variety of items during the three and a half hour meeting.
After a brief public discuss council members unanimously passed a resolution authorizing an investment grant to Live Oak Bank.
If Live Oak Bank builds a $16 million expansion to their Wilmington offices, and adds 120 employees, the city will give them a $250,000 incentive spread out over the course of five years.
New Hanover County Commissioners voted Monday to contribute $325,000 over the same time span.
Also at the Tuesday council meeting the board unanimously approved the appropriation of $40,000 to demolish the Adrian B. Rhodes Armed Forces Reserve center on West Lake Shore Drive.
The Federal Government requires military facilities that are not used any longer to be re-developed to help the homeless.
Once they were done passing out incentive money the council voted to add a little back to the coffers.
Council members unanimously accepted close to $50,000 from an insurance company as a settlement from an accident at the Kenan Fountain.
Estimates put the damage closer to $70,000 but the drivers insurance had a $50,000 maximum.
The council also decided to keep the city’s red light cameras for another year at a cost of $480,000.
The city and New Hanover County jointly fund the program with all of the proceeds going to New Hanover County Schools.