The Transylvania Times -

County To Seek USDA Loan For $31 Million- Brevard NC


January 25, 2018

To pay for the proposed $31 million new courthouse, Transylvania County commissioners have approved beginning the process to secure a 40-year loan from the U.S. Department of Agriculture (USDA).

Commissioners unanimously accepted staff’s recommendation during their regular meeting Monday.

The interest rate on the 40-year loan is projected at 3.5 percent, with annual payments of about $1.45 million. The potential yearly impact on the tax rate would be an increase of $0.0254 cents based on the annual payment.

The county’s current tax rate is $0.5110 per $100 of value.

The payment ove...

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