LGC approves $29.8M bond, $21M for First Horizon Coliseum 2027 ACC upgrades

The North Carolina Local Government Commission approved the City of Greensboro’s application to issue $29.8 million in limited‑obligation bonds, with the action recorded at the LGC meeting on March 3, 2026. The state posting and local coverage say the largest share will fund work at First Horizon Coliseum as the city prepares to host major events tied to the 2027 ACC Basketball Tournament.

According to the North Carolina Department of the Treasury Local Government Commission posting, “About $21 million of the proceeds will pay for improvements and retrofitting of First Horizon Coliseum for sporting and other events including a 2027 ACC Basketball Tournament.” Local television outlet WFMY also reported the LGC approval and cited the Coliseum allocation as central to the bond request.

The remainder of the $29.8 million is slated for municipal facility work in Greensboro. The NC Treasurer posting states, “A portion of the proceeds will be used to improve the city’s fleet servicing garage and to address contaminated, hazardous and unsuitable soils at that site.” That environmental remediation and garage upgrade are tied to the same limited‑obligation financing package approved by the LGC.

The state posting and WFMY coverage both emphasize the financing mechanism: “Limited obligation bonds do not require voter approval.” The LGC action thus clears a procedural hurdle in Raleigh and allows the city to move forward without a public referendum, though the posting and news reports do not detail the bonds’ repayment source, interest rates, or closing schedule.

The March 3 LGC agenda, posted by the NC Treasurer, covered requests from multiple North Carolina counties; alongside Greensboro’s application the commission approved a $135 million revenue bond for fast‑growing Holly Springs in Wake County and considered items involving Forsyth, Harnett, Jackson, Orange, Wayne and Wilkes counties. The Holly Springs item included U.S. Census figures showing the town’s population grew from 24,661 in 2010 to 48,674 in 2024, illustrating the range of financing needs the LGC handled that day.

Public materials captured in the official posting and in local reporting do not supply further technical detail for the Coliseum work or the garage remediation: no contractor names, no line‑item cost breakdown beyond the approximate $21 million, and no project timeline or environmental remediation plan was attached to the LGC notice. The NC Treasurer posting provides the official allocations and purpose language but stops short of project-level specifics.

For Guilford County and downtown Greensboro businesses that expect higher visitor traffic for the ACC tournament in 2027, the LGC approval is a decisive financing step. The state posting makes clear the intended uses and the size of the authorization; city finance and venue officials will need to publish the project scope, schedule and contracting details before visible construction or remediation begins.