Wayne County Board of Commissioners Agenda March 2026
County Executes $9M School Construction Project Fund Agreement
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Description
Wayne County executed a Project Fund Agreement with Truist Commercial Equity, Inc. to manage up to $9 million in funds for the construction of two new public schools. Disbursements require lender approval and detailed requisition.
Contract Details
Contract Amount
$9,000,000 (Project Fund: $8,993,000 after fees)
Vendor
TRUIST COMMERCIAL EQUITY INC
Agency
Wayne County, NC
Contract Type
FINANCIAL_SERVICES
Document Date
March 3, 2026
Contract Term
March 18, 2026 – upon final disbursement or completion of project (~3 years)
Renewal Date
2029-03-18
Renewal Info
Agreement terminates upon final disbursement or 3 years from closing date, whichever is sooner. Unused funds to be applied per agreement or returned.
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