Forsyth County Commissioners voted last night to have a public hearing in two weeks on issuing up to $15 million in bonds toward the renovation of the Phillips Building, at 301 N. Church St. just north of the county jail.
The county plans to move the sheriff's office and some other county functions into the building, which has about 289,000 square feet of office space and more than 300 parking spaces.
The public hearing will be at 6 p.m. Oct. 26 in the commissioners' meeting room at 301 N. Chestnut St. in the Forsyth County Governmental Center.
The financing, if approved, would be similar to a home mortgage, said Paul Fulton, the county's finance director. The limited-obligation bonds used in the financing would be secured by the building and any improvements the county makes on it.
The county is buying the Phillips Building from Winston Tower Church LLC for $3.5 million.
Deputy County Manager Ed Jones said that the work covered by the financing would also include about $4.2 million to remove asbestos and put in new fireproofing, as well as other costs associated with getting the project going.
It also includes about $2.5 million in architectural fees and similar expenses.
The county is asking for a $15 million limit on initial financing to give county officials some flexibility if additional work needs to be done up front, Jones said.
The $15 million in initial financing would go toward an estimated price tag of about $36 million for renovating the first two floors of the Phillips Building and the basement parking areas.
No extra jail cells are included in that phase of the work, although they could come later and bring the total cost of the project to more than $62 million.
Jones said that it could take about a year to get the building plans ready and put the project out for bid.
In other action, commissioners postponed action until Nov. 9 on whether to keep or repeal a historic-landmark designation for the River John Conrad House near the Yadkin River.
The owners of the house want the historical designation removed so that they can expand the house, but some preservationists are opposed to the change.
wyoung@wsjournal.com
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