WINTON –The Hertford County Board of Commissioners approved no more than $3 million to finance the renovation project for Office Building #1 and also approved a construction contract at their regularly scheduled meeting here Monday night.

The board held a public hearing on financing for the project, but there were no speakers.

County Manager Loria Williams said, after opening financing funds for the project, she awarded the contact to BB&T, which is offering financing terms of 2.8 percent over 12 years.

Williams estimates the contract with BB&T will be for $2.85 million instead of $3 million. The final contract documents will have the correct financing figures instead of the estimated $3 million amount.

The commissioners unanimously approved BB&T’s bid, which Williams said would not include a tax increase.

The commissioners also unanimously approved a construction contract with American Builders Inc. of Greenville to renovate County Office Building #1.

Part of the renovation project includes doors, windows, plumbing, and heating, ventilation, and air conditioning.

Williams said repaving the parking lot and paving the grass and dirt parking lot have been added to the project.

A portion of the facility was once the home of several offices of county government, to include the County Manager, Tax Collection and Appraisal, County Mapping, and Economic Development. Those offices moved last year to the new Government Center located adjacent to the newly opened Hertford County Courthouse.

The other portion of Office Building #1 remains as the home of the Hertford County Department of Social Services, which will occupy the entire facility once renovations are completed.

One of the stipulations in the resolution calls for an increase in property tax if necessary to help pay for the project. That part of the resolution was cause for concern by the Commissioners.

“The Local Government Commission feels that if taxes are necessary to pay the debt service, you don’t want to paint yourself in a corner, but they want to ensure that you have the means to pay for the loan you are about to undertake,” Williams said. “I don’t estimate that this new debt service will require a tax increase. If for some reason it does, then it will be less than one penny over the life of the loan.”