HOLDEN BEACH, N.C. (WECT) - Voters in Holden Beach will decide today on a referendum to demolish the existing pier and build a new one.
In 2022, the town purchased the current pier for $3.3 million, then shortly after, closed it to the public due to safety concerns.
This year, the town board of commissioners unanimously adopted the bond order on Aug. 19 after two public hearings.
According to the town, the referendum includes $7.3 million in General Obligation bonds, which only covers demolition and construction costs. The bonds do not cover debt from the original pier property purchase, construction of a new pier building, maintenance, or operating costs.
If the referendum passes, property owners may have to pay an additional $31.60 per year in property taxes for every $100,000 of property value, states the town.
The proposed pier would be a 996-foot wooden walkway with a covered "T" at the end, similar to the original design. The new pier would be uninsurable for wind or water damage.
The town states that engineers estimate annual maintenance costs at $72,560 to keep the pier functional for 50 years.
The town has not established operating revenues or determined if the pier will generate profit.
If the referendum passes, commissioners have seven years to issue the bonds, but are not required to build immediately.