BY MILES LAYTON

EDENTON — Monday evening’s Edenton Town Council meeting marked a significant moment in the town’s pursuit of economic growth, as officials moved forward on a multi-faceted development initiative that could reshape the downtown landscape and create dozens of new jobs.

At the center of the meeting was the council’s consideration of a series of proposals tied to the arrival of Provalus, a technology solutions company poised to launch operations in Edenton. The project would bring with it a major downtown investment, office space renovations, and potentially a housing component designed to support a tech workforce — all supported by an intricate funding arrangement.

“This is probably the most complicated tax structure that exists in the country,” said Town Manager Corey Gooden, referring to the New Markets Tax Credit financing method being used to fund the Provalus project. “But assuming everything goes as planned, after ten years of operation, the town will net nearly $998,000, even after accounting for all debt service and related expenses.”

Responding to rumours about a Bojangles coming to Edenton, Councilman Craig Miller asked the question — is that restaurant interested in space at 110 Whitemon Lane, that’s close to US 17? City officials did not say.

Any business that’s interested in that space will need to apply for a Major Special Use Permit to move forward — information that will be public record after the paperwork is submitted.

“The business in question will be known when they submit their actual Major Special Use Permit for zoning,” said Ches Chesson, executive director of Main Street Edenton. “That business is planning on submitting a Major Special Use Permit for those two lots in the future.”

That said, Bojangles’ corporate office, if you are reading this story, maybe consider opening a location in Edenton. Since you are about to open a new restaurant by US 17 Pasquotank County, just outside of Camden County, maybe consider a new location in Chowan County.

Public Hearings Draw Community Input

Three public hearings were held Monday night to discuss various elements of the Provalus project:

• An economic development appropriation to support the company’s start-up and operations;
• A proposed lease agreement between the town and Provalus for downtown office space;
• An installment financing agreement (IFA) to fund related infrastructure and building upgrades.

The town’s share of debt for the IFA is expected not to exceed $6 million, Gooden explained, adding that no town funds will be expended until approval is granted by the Local Government Commission (LGC). He said the town is working with multiple funding partners to reduce the financial burden on taxpayers.

“The only funding that’s been budgeted so far is $289,500, which is part of the repayment structure,” Gooden said. “That’s a necessary first step, but the goal is to create a capital stack that limits the town’s long-term exposure.”

Citizen Seeks Clarification

During discussion, J.D. Grant, a familiar face about town, pressed Gooden on the nature of the building acquisition, which involves multiple layers of leasing between the town, a development authority, and Provalus.

“So the town is buying the building, then leasing it to another entity, which leases it back to us, and then we lease it to Provalus?” Grant asked. “I just want to make sure I understand this right.”

Gooden responded that the complex structure is part of how New Markets Tax Credit financing works, and is designed to unlock investment in low-income communities like Edenton.

“Yes, that’s accurate,” Gooden said. “It’s part of the New Market structure. But the important thing is that we won’t move forward with any significant expenditures until we have approval from the LGC and everything is in place.”

Long-Term Financial Picture and Housing

Gooden noted that the financing structure is based on performance thresholds, including job creation and housing completion. Certain grants and reimbursements will only be triggered once milestones are reached — a system he said gives the town flexibility and accountability.

“Some reimbursements are tied to housing completion; others are based on job creation,” he said. “As we meet those thresholds, we can submit for partial reimbursement of those funds.”

When asked if the town or its nonprofit partners would be involved in managing potential housing units, Gooden made it clear that the town does not intend to serve as a landlord.

“We’re currently in conversations with a property management group that specializes in live-work housing for tech workers,” he said. “The goal is to bring in professionals to manage the apartments so the town can stay focused on infrastructure and job creation.”

Budget Amendments and Grants

The council also approved several budget amendments, including:

• Project Teapot funding adjustments — a capital improvement project with updates expected later this summer;
• A North Carolina League of Municipalities Safety Grant awarded to the Edenton Fire Department, which will fund new protective gear and safety equipment for local firefighters;
• A Findings Resolution tied to the Local Government Commission application, allowing the town to formally begin the financing process for the Provalus development.

Gooden delivered his monthly Town Manager’s Report, providing status updates on public works, planning, and community events. He praised staff for their coordination with outside agencies and noted that intergovernmental cooperation has been key to the town’s progress on large-scale projects.

“This kind of work doesn’t happen in a vacuum,” Gooden said. “We’re seeing meaningful collaboration with county officials, the private sector, and community leaders — and that’s how you build something lasting.”

Faith and Outreach: St. Vincent de Paul Presentation

Earlier in the meeting, Wendy McGrath, a representative of St. Vincent de Paul, addressed the council during a special presentation about the nonprofit’s ongoing work in the Edenton area.

McGrath spoke of growing needs among working families, many of whom face housing insecurity, food instability, or transportation issues.

“We see people every day who are doing everything right — working full time, raising kids — and still struggling to get by,” she said. “Our mission is to stand in that gap and bring dignity, faith, and support to those who need it most.”

McGrath expressed interest in partnering more closely with the town, particularly in areas like utility assistance and housing navigation.

Several council members voiced appreciation for St. Vincent de Paul’s work and encouraged McGrath to follow up with staff regarding formal partnership opportunities.

Public Comment: Concerns Over Downtown Closures

During the public comment portion of the meeting, Lorrie Dablow, a local business owner, voiced concern about how frequent street closures for events on Broad Street are impacting downtown merchants.

“We only have two small blocks that make up our downtown commercial district,” Dablow said. “When we overbook events and close the street, we cut off access to the very businesses that are trying to survive.”

Dablow referenced recent closures during Fourth of July weekend, traditionally a major retail window for shops and restaurants.

“That’s not just a holiday — it’s a make-or-break sales weekend for many of us,” she said. “If people can’t reach our stores, we lose money. And some of us can’t afford to lose much more.”

She emphasized that while community events are important, their location should be carefully considered.

“These events could be hosted elsewhere — maybe on the waterfront or at a park — so we’re not always blocking the same two streets,” she added. “We need a balance between celebration and sustainability for our small businesses.”

Council members acknowledged her comments and said the town will review its event permitting process and consider alternate venues for large-scale gatherings in the future.

Looking Ahead

As the meeting concluded, the mood was one of cautious optimism. While the Provalus project brings complexity, it also offers the promise of long-term growth — both economically and socially.

“This is an extraordinary step for a town our size,” Gooden said. “It shows what’s possible when people come together with a shared vision.”

In the coming months, the town will await approval from the Local Government Commission and continue working with development partners to finalize project details. In the meantime, council members are expected to hold follow-up workshops on downtown planning, housing partnerships, and small business support.

The next Edenton Town Council meeting is scheduled for 6 p.m. Monday, July 28 in Council Chambers.