Kannapolis still waiting word about N.C. Research Campus bonds
NCRC's main building (NCRC photo)
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By EMILY FORD, Salisbury Post
KANNAPOLIS, N.C. - Perhaps no news is good news.
That’s what Kannapolis city officials are hoping as they await word on whether an agency will rate unique bonds designed to pay for improvements at the N.C. Research Campus.
Standard & Poor’s visited the Research Campus July 6 to consider assigning an investment grade rating to $30 million in tax increment bonds, or TIF bonds.
City officials expected an answer within two weeks. They’re still waiting.
“Actually I doubt it has much to do with us,” City Manager Mike Legg said in an e-mail. “I just think they were too optimistic with us about time frame...Our TIF is a more complex decision than most they encounter.”
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