Carolina Beach Town Council approves funding source for Freeman Park

CAROLINA BEACH, NC (WWAY) — Carolina Beach Town Council unanimously approved a new funding source to buy Freeman Park.

The Town will apply for a $3.25 million locan through BB&T Truist Bank, paying the loan off over 10 years with a little more than a two percent interest rate.

All five council members approved the application, giving the finance director the go-ahead to move forward.

“320 acres is larger than all of New Hanover County parks put together,” said Mayor Lynn Barbee. “So, you know, we have to complete the purchase first. So that’s what we’re focusing.”

Barbee said the council will still apply to grants to make up for the loan, but need to make a deadline in order to purchase the land.