In 2020, Rowan County was awarded a $400,000 loan through the State of North Carolina's Rural Building Reuse Program to help facilitate Eastern Fence's establishment of a new manufacturing facility in the County. This loan was secured with a Deed of Trust and converts to a grant if Eastern Fence's satisfies the State’s job creation requirements.
Eastern Fence is leasing its facility at 7401 Statesville Boulevard from Salisbury Investments I, LLC. The building's owners are in the process of selling the facility to another party and would like to have the Deed of Trust removed prior to closing.
Eastern Fence has met its job creation requirements, but it is unlikely that the State will issue the grant certification documents in time for the scheduled closing on February 25th. Because of this, the building’s owners have asked the County to agree to subordinate the Deed of Trust to any new financing.
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