Town News Summer 2019

 

CAROL C PRITCHETT TAKES THE OATH OF OFFICE

The Lake Lure Town Council unanimously passed Resolution
19-08-13B appointing Carol C. Pritchett as the Mayor of the
Town of Lake Lure Mayor on Wednesday, 8/13/19.  Mayor
Pritchett will complete former Mayor Kevin Cooley’s
unexpired term, following his untimely passing.  

Mrs. Pritchett was sworn into office at the Lake Lure Town
Council Meeting on Wednesday, 8/13/19.  This appointment
became effective August 14, 2019 and will remain in effect for
the remaining term of the former Mayor.  The appointment will
expire in conjunction with the official oath of office for the
newly elected Mayor, at the Regular Town Council Meeting
on December 10, 2019. The filing period for the 2019 municipal election has expired and Mrs. Pritchett is the only person running for Mayor.  She will therefore be the next elected Mayor of Lake Lure.

Following the passing of the resolution, Mayor Pritchett thanked Town Council and Mayor Pro Tem John Moore for her appointment as Mayor and for their service to the Town of Lake Lure.  She recognized the many accomplishments of former Mayor Kevin Cooley during his tenure and remarked that he was an incredible presence in our community.  She stated that his work will survive his passing and noted that we would all profit from his efforts for a long time to come.

Mayor Pritchett added that she thought the community had a shared goal of preserving Lake Lure for future generations.  She shared that she and her husband, Joe Pritchett, moved to Lake Lure from Houston, Texas in 2011.  Mayor Pritchett noted that she and her husband built a home in Lake Lure to establish a gathering place for their family, including their two sons and their wives, including five grandchildren.

Mayor Pritchett stated “For the first time in a long time we have a good sense of the challenges that we are facing and the things that need to be done. I look forward to working with all of you in the future.”

Mayor Pro Tem John Moore remarked that “Carol C. Pritchett has vast experience and an outstanding track record of establishing operational excellence and driving profitable, sustainable, revenue growth, while championing optimal outcomes. She has 17+ years of experience managing national organizations with annual revenue in excess of $300M and more than 70 separate facilities in 13 states across the country. She is a results-driven, transparent, and inclusive leader who will serve Lake Lure
well.  Lake Lure is fortunate to have Carol Pritchett as Mayor as she will help the Town expand the current positive trajectory and help us address the infrastructure challenges we face, while building upon the exceptional beauty that surrounds Lake Lure.”

Carol Pritchett founded Coulter Consulting LLC in Asheville, NC and served as President from 2014 until the present.  Her company contracted with standalone healthcare facilities and oversaw their operations including the establishment of strategic plans, policy development, training and successful certifications.  Mrs. Pritchett served as the Senior Vice President of Encore Healthcare Corp in Columbia, MD from 2011 – 2014 and as a Regional Vice President of Operations with Life Care Centers of America, Inc. in Houston, TX from 2015 to 2011. The Town of Lake Lure is honored to have Carol C. Pritchett as their new Mayor.  

 

 

 

PROGRESS WITH PRIORITIES

Mayor Pro Tem John Moore

 August 10, 2019

Thank you all for the feedback and positive responses to last month’s article on “Preserving Lake Lure for Future Generations.”  It is important for our citizens to be aware of the issues our Town is facing and we also need ongoing input and support from our constituents to help us make the best decisions for our Town as we move forward to address important priorities.

I would encourage everyone to participate in our monthly Town Council Meetings which are held on the second Tuesday of each month at 5:00 in the Municipal Hall at 2948 Memorial Highway.  The purpose of these meetings is to exchange information, receive updates and to make decisions on key issues that impact our Town.  The meetings generally last an hour and a half and we hope you will find them informative.  The agenda is always posted online in advance of the meeting and the minutes that summarize the meetings are available online as well at www.townoflakelure.com.   We are currently discussing critical infrastructure matters that the Town is working on diligently, including the dam renovation, our sewer system replacement, the new Chimney Rock State Park egress that is being planned by the NC Department of Transportation, dredging to maintain the quality of our lake, enhanced Wi-Fi and telecommunications in our area, and marina, park and trail improvements, just to name a few.  I will take this opportunity to provide a few updates here on significant topics so you will be aware of the efforts that are underway.  

Dam Renovations: Town staff have been working closely with the North Carolina State Dam Safety Engineering Office through the NC Department of Environmental Quality (NCDEQ) to apply for a rehabilitation grant through the National Dam Safety Program.  The focus of this grant is for planning, engineering, and design work.  There were hundreds of applicants for this grant so we are uncertain if the project will be awarded, but we are attempting to secure national funding to support these necessary and costly renovations.  Congressman Patrick McHenry visited Lake Lure on 8/7/19 and held a public forum where he mentioned his support for the Town’s investment in infrastructure and he has written a letter of support for our grant application for the dam.

Sewer System Replacement: The Town is continuing to work to implement a land-based, low-pressure sewage collection system.  The next step in this effort is the completion of an Engineering Report that will be submitted to NCDEQ. Simultaneously, the Town has hired a geotechnical engineer, Bunnell-Lammons Engineering, Inc. (BLE) to assist with the project.  BLE is running ground penetrating radar and taking soil boring samples to find where rock is located.  This evaluation will support future planning as the project moves forward.

Public Wi-Fi:  The Town recognizes the importance of wireless fidelity “Wi-Fi” for the Lake Lure area.  In an effort to enhance and expand Wi-Fi opportunities for our citizens and guests while they enjoy Morse Park, the Lake Lure Beach and Town Center areas, the Town is currently reviewing requests for proposals for this service and anticipates having work begin on these enhancements in the not too distant future.  Also, Town staff are in continuous dialogue with a consultant working toward acquiring all necessary easements for the siting of a wireless telecommunication facility within the Town.  We realize that this communication facility is a necessary asset for our community and we will keep you posted on our progress in this area.


Duke Energy Power Enhancements: In February 2019 a public meeting was held with Duke Energy to discuss improving local power service. We believe this forum and the Town’s continuous dialogue and coordination with Duke Energy Officials has made an impact.  Duke Energy has announced that they are about to begin work on a project that will help to increase reliability to the Lake Lure area. From August to around mid-November, multiple crews will be working to upgrade the feeder tie that runs south down Hwy 9 to the Mill Springs area. This will include installing bigger wire and taller poles. This is part of Duke's long range strategy to enhance reliability to Lake Lure by strengthening the ties to other feeders and substations in the area.

Much of the work will be done right along Hwy 9 so motorists are encouraged to be aware of work zones and pay attention to flaggers. We expect there will be occasional lane closures, but crews will work to minimize impacts to the public.

We are pleased this project is being implemented this fall and look forward to the benefits that this long term strategy will bring to customers in our area.


Lake Levels:  The Marine Commission held a special public forum on 8/13/19 to discuss and gather input on the cycle and timing of lowering the lake.  Thank you to the approximately 65 people who participated in the meeting. The purpose of lowering the lake during the off season is to allow lakefront property owners to maintain their lake structures, including boathouses, docks and seawalls.  By having a schedule in place, property owners can plan for the desired work and have a contractor and permits in place prior to the lake being lowered.  The Town has lowered the lake between 4-5 feet on a three year cycle in the past.


The Marine Commission presented the pros and cons associated with lowering the lake for these reasons during the meeting.  Citizens had the opportunity to express their opinions as individuals and by a show of hands so the Marine Commission could assess the number of people in the room who supported various options for lowering the lake.  Ultimately, the Marine Commission voted to begin the draw down of the lake on December 1, 2019, and to begin raising the lake to full pond on February 10, 2020.  Town Staff requested that the lake be lowered for at least thirty days to replace a valve in the sewer line mandated by the state.  The Town retains the ability to lower the lake at other times, as necessary, due to the weather, maintenance, dredging, construction, or for evaluation/inspections.


The Town of Lake Lure is working hard to address these State mandated infrastructure repairs, renovations and replacements that are needed to maintain our beautiful Town for our citizens and for all those who visit the Hickory Nut Gorge.  In addition to this challenging work, our Town is gearing up to support year-round activities and events that will attract visitors and future citizens to our area.  We hope you will support these upcoming festivals which have become signature events for our Town:


    September 13-14, 2019: Dirty Dancing Festival Sponsored by the Chamber of Hickory Nut Gorge

    October 19-20, 2019: Lake Lure Arts and Crafts Festival Sponsored by the Hickory Nut Gorge

Outreach

    November 9, 2019: Lake Lure Annual Artist Show and Sale Sponsored by the Lake Lure Artists


As we continue our work to enhance the beauty and infrastructure of Lake Lure, we will be electing new officials that will support this ongoing work.  Your participation in this process if critical and I encourage you all to get out and vote in November.

  

 

 

DUKE ENERGY UPDATES IN THE LAKE LURE AREA

 

In February 2019 a public meting was held with Duke Energy to discuss improving local power service.  Duke Energy has announced that they are about to begin work on a project that will help to increase reliability to the Lake Lure area.  From early August to around mid-November multiple crews will be working to upgrade the feeder tie that runs south down Hwy 9 to the Mill Springs area.  This will include installing bigger wire, taller poles, etc.   This is part of our long range strategy to enhance reliability to Lake Lure by strengthening the ties to other feeders and substations in the area.


As much of the work is right along Hwy 9, we encourage motorists to be aware of work zones and pay attention to flaggers.  We expect there will be occasional lane closures, but crews will work to minimize impacts to the public.  


We are pleased this project is being implemented this fall and look forward to the benefits that our long term strategy will bring to customers in area.

  
  

 

SPECIAL THANKS TO ALL THOSE WHO VOLUNTEERED FOR THE

15th ANNUAL LAKE LURE OLYMPIAD!

 

2019 Lake Lure Olympiad Results

Returning for the 15th annual year, the scenic mountain town of Lake Lure hosted the Lake Lure Olympiad on August 9-11, 2019. Each year hundreds of athletes come to compete at one of Western North Carolina's Premier Destination Sports Festivals, situated in the Blue Ridge Foothills.  Lake Lure Olympiad Chair, Kay Dittmer said, “This year was no exception.  In fact, there were a record number of registrations with a 15% increase across the board and the enthusiasm of everyone that participated was outstanding.

The 15th Annual Lake Lure Olympiad included multiple race events, challenging courses, and entertaining outdoor activities for family and friends. “The Lake Lure Olympiad is a non-profit organization bringing people together in the spirit of friendly competition for the benefit of charitable giving”, remarked Dittmer. The Olympiad has given back that more than $315,000 towards area charities and service organizations. This year’s totals are still being tabulated but the beneficiaries will go to local area service organizations and charities.

Over the past 15 years, athletes of all ages and abilities have participated and continue to rave about the area's scenic beauty, delicious finish line food, homemade cookies, and countless welcoming volunteers which all make the Olympiad experience truly special and unique. 

Here is a brief overview of each event with the male and female overall winners: 

1)   Slam the Dam: Total Event Participants: 237

Slam the Dam is an early evening run that provides a spectacular tour of some of the most beautiful spots in Lake Lure ending with an ice cream sundae social and a refreshing dip in the lake.

This demanding 10K race begins at Ingles Supermarket on Rt. 9,  heads east on Rt. 64 and then left onto Buffalo Shoals Rd. where participants cross the iconic Lake Lure Dam. The winding up & down Buffalo Shoals section of this race provides participants with a challenging but gorgeous stretch that finishes on the beach at the Rumbling Bald Resort. 

 

2)   Triathlon: Total Event Participants: 316

The Lake Lure Sprint starts and finishes on the white sandy beach of Rumbling Bald Resort. The Lake Lure area is a favorite training haven for triathletes and was noted as such by Complete Tri in their "Top Ten Great Destination Triathlons" and "The Most Amazing Triathlons To Do Across the USA Today" in Culture Trip.

Swim:

The swim start and finish locations are a couple of hundred yards apart, so the 750-meter course is shaped like a triangle with one large pyramid shaped buoy functioning as the lone turn buoy on this course. This is a time trial swim start, with participants going off every 2-3 seconds. This greatly improves swim safety, but it also allows participants to swim with family members or friends, something they're not able to do with wave start races. The transition area is just a short run out of the water.

Bike:

Just keep focusing on those mountain views as you push through the 22.3Kone-loop bike course. Participants will peddle through the countryside at the base of the Blue Ridge Mountains, finishing back at the same transition area. No big hills on this course, but some challenging shorter climbs mixed in lots of rollers.

Run:

The 5K out & back course is steadily uphill to the turnaround location. 

The course carries participants into a beautiful valley paralleling Bald Mountain Golf Course.

The return trip to the finish line is downhill and finishes on the beach.

Note: The Triathlon does not award overall winners.

3)   Race to the Rock - Run: Total Event Participants: 188

Run (5K) with a reward of a panoramic view of the Hickory Nut Gorge, a medal, and sweet swag.

Note: The #1 overall male winner is an Olympic athlete having participated in the steeple chase in two separate Olympic events. Anthony Famiglietti is an American track and field athlete who competes professionally for Reckless Running. He was formerly sponsored by Adidas. He has competed for the U.S. in the 3000 meter steeplechase at the 2004 Athens Olympic Games and the 2008 Beijing Olympic Games.

Note: The 2nd place overall female winner was 11 years of age.  

         

 

 

4)   Race to the Rock - Bike: Total Event Participants: 73

Starting at the Old Rock Cafe on the west side of Chimney Rock Village, the course makes a 25-mile loop. The timed mass start begins heading east along Memorial Highway. Following the winding roads of Bills Creek, Buffalo Creek and Buffalo Shoals Roads, the course takes you on a scenic trip passing Rumbling Bald Resort and following along the shore road. Cross the iconic Lake Lure Dam and back onto Memorial Highway into Chimney Rock Village.  The course enters Chimney Rock State Park and climbs up the switchback road ending at the base of the Rock with a stunning 75 Mile panoramic view of the Hickory Nut Gorge.

Special Thanks to the Countless Volunteers Who Make The Olympiad Happen Each Year!

    

 

Special Thanks to Buddy Morrison for sharing these beautiful photographs.

 

 



PUBLIC MEETING ON LOWERING THE LAKE

 

The Town of Lake Lure, NC proactively lowers the lake on a three-year cycle to allow lakefront property owners to maintain their lake structures.  A public forum is being held to discuss and get input on lowering the lake. Please join this meeting to provide any input you may have on this important issue.

When: Tuesday, 8/13/19 at 4:00 PM

Where: Lake Lure Municipal Hall, 2948 Memorial Highway, Lake Lure, NC 28746

Questions: Please call 828-625-9983

Outcome: The Marine Commission held a special public forum on 8/13/19 to discuss and gather input on the cycle and timing of lowering the lake.  Thank you to the approximately 65 people who participated in the meeting. The purpose of lowering the lake during the offseason is to allow lakefront property owners to maintain their lake structures, including boathouses, docks and seawalls.  By having a schedule in place, property owners can plan for the desired work and have a contractor and permits in place prior to the lake being lowered.  The Town has lowered the lake between 4-5 feet on a three year cycle in the past.


The Marine Commission presented the pros and cons associated with lowering the lake for these reasons during the meeting.  Citizens had the opportunity to express their opinions as individuals and by a show of hands so the Marine Commission could assess the number of people in the room who supported various options for lowering the lake.  Ultimately, the Marine Commission voted to begin the drawdown of the lake on December 1, 2019, and to begin raising the lake to full pond on February 10, 2020.  Town Staff requested that the lake be lowered for at least thirty days to replace a valve in the sewer line mandated by the state.  The Town retains the ability to lower the lake at other times, as necessary, due to the weather, maintenance, dredging, construction, or for evaluation/inspections.

 

 


 

FOR YOUR AWARENESS

 

If you have been attending the monthly Town of Lake Lure, NC Council Meetings, you are aware that the Town is working to implement a land-based, low-pressure sewage collection system.

As a part of this effort, the Town has consulted Bunnell-Lammons Engineering, Inc. (BLE). BLE is working in Town again this week on another phase of the ongoing project which will involve drilling equipment in the road with cautionary signage.  This effort will take several days to complete so please be aware.

If you have any questions, please contact 828-625-9983 or attend the Town Council Meeting on 8/13/19 at 5:00 in the Lake Lure Municipal Hall at 2948 Memorial Highway. This meeting is open to the public.

 

 

AUGUST TOWN COUNCIL MEETING

When: Tuesday, 8/13/19 at 5:00 PM

Where: Lake Lure Municipal Hall, 2948 Memorial Highway, Lake Lure, NC 28746

Agenda: 

•    Mayor’s Communications including a Resolution Honoring the Service and Memory of Kevin Cooley

•    Town Manager Communications with updates on the Dam, Sewer System, Strategic Communications Plan, Grants, Wi-Fi, Commercial Center, Welcome Center

•    Council Liaison Reports and Comments regarding the Marine Commission, ABC Board, Board of Adjustment/Lake Structures Appeals Board, Lake Advisory Board, Parks and Recreation, Utility Advisory Board, Zoning and Planning Board

•    Public Comment: The public is invited to speak on any non-agenda and/or consent agenda topics. Comments should be limited to less than five minutes.

•    Consent Agenda including Adoption of the July 9, 2019 Regular Town Council Minutes, Suspension of Chapter 61: “Peddlers” of the Code of Ordinances for the 10th Annual Dirty Dancing Festival and Approval of a Fabric Structure Permit, Suspension of Chapter 61: “Peddlers” of the Code of Ordinances for the 3rd Annual PAWS Pet Fest in Morse Park on August 24, 2019, Budget Amendments for the Gate Valve, Gate Hoist, and Bearing Work and a Resolution Acknowledging Michael Stead

•    New Business including a Resolution Appointing a New Mayor for the Town of Lake Lure with the new Mayor, Carol Pritchett taking the Oath of Office

Everyone is welcome to attend. Light Refreshments will be served.

Questions: Please call 828-625-9983  

 

 

THANK YOU FOR ATTENDING PATRICK MCHENRY'S PUBLIC FORUM

 
The Town of Lake Lure, NC had a nice gathering in attendance on Wednesday, August 7, 2019 at Town Hall for the Public Forum with Congressman Patrick McHenry. Congressman McHenry expressed an awareness of and support for Lake Lure's infrastructure priorities.
 
Thank you to all of the constituents who took the time to attend and exchange information with the Congressman.

    



 

PRESERVING LAKE LURE FOR FUTURE GENERATIONS

A Message from the Mayor Pro Tem

I have been honored to serve as the Mayor Pro Tem for the Town of Lake Lure over the past 6 years.  Following the untimely passing of our honorable Mayor Kevin Cooley in May, I have been serving as the Acting Mayor.  I will continue to serve in this capacity until the Lake Lure Town Council determines another plan, and/or until the election in November of this year.

Your Town Council continues to work with the Town of Lake Lure Management Team to continue the important work that is underway.

•    Shannon Baldwin, Town Manager

•    David Arrowood, Public Works Director

•    Brad Burton, Community Development Director

•    Dean Givens, Parks, Recreation and Lake Director

•    Sean Humphries, Police Chief

•    Sam Karr, Finance Director

•    Laura Krejci, Communications Specialist and Grant/Events Coordinator

•    Dustin Waycaster, Fire Chief and Emergency Management Coordinator

One of the most important accomplishments we have made together in the past month is passing the FY 19-20 Budget.  Please click here to continue reading the article.




JULY 9, 2019 TOWN COUNCIL MEETING SUMMARY

A.  WELCOME: Mayor Pro Tem John Moore called the 7/9/19 meeting to order and gave the invocation. Council members led the pledge of allegiance. Please click here to download the meeting packet. The following is a synopsis of the meeting.

B. Mayor Pro Tem Communications: Mayor Pro Tem John Moore provided the following updates:

1.    Tribute to Mayor Cooley in July Issue of the Mountain Breeze: A copy of the tribute to Mayor Cooley was distributed to those at the meeting.  The Tribute was published in the Mountain Breeze and you may click here to read the tribute.

2.    Everbridge: Everbridge now has over 1,000 people registered and the Town will transition into the new system in December.  Those in attendance were given a handout with instructions on how to register.  You may click here to learn more and register for Everbridge.

3.    Fireworks: This is the first year the Town hosted the July 3rd Fireworks Event and we are pleased to report that from all indicators, the event was a success.  There were many positive comments on the Facebook page.

4.    Mountains Branch Library: The Lake Lure Library sponsors a Books and Bites series each year and they have brought some very talented authors to Town.  Today, the Friends of the Library hosted Jonathan Putnam who came over from London to present his latest book in a series of historical novels.  Today he debuted his book, “A House Divided.”  The author was well received. 

5.    Buffalo Creek Park Clean Up Day: The Town of Lake Lure, NC and Rutherford Outdoor Coalition (ROC) held a workday at Buffalo Creek Park on Monday, 7/8/18.  Thanks to all those who showed up to help repair erosion issues along the trail. We appreciate the support from the community and of Rutherford Outdoor Coalition in helping to maintain the trails.

6.    Buffalo Creek Rd: Mayor Pro Tem Moore reported that he attended a meeting last week with the NC Dept. of Transportation at Rumbling Bald Resort (RBR).  The engineers showed their plans for road repairs at the landslide on.  They described the slide as an ancient “Large, Slow Moving Landslide” (which they said is actually a technical engineering term).  They have been monitoring the slide and said that it has not moved in the past several months but that it could begin moving again at any time depending mostly on how much rainfall we have.  The slide is about 300 feet from bottom to top and about 200 feet in length and Buffalo Creek Rd goes through the center. The engineers and geologists are convinced that the slide will continue moving toward Bald Mountain Lake but don’t know when the next movement might occur.  It depends on how saturated with water the soil becomes.  In the past it has moved on average about once every ten years.The plan now is to repair the 200 feet of road with gravel and to begin working with RBR and property owners to acquire a right of way to go around the slide using Chalet Rd., part of Village Rd. and part of Young’s Mt. Rd.  When the new road is complete, Buffalo Creek Rd. will have a cul-de-sac on each side of the slide. 

7.    Lake Lure - 10 Best Lake Towns in North America: The Town of Lake Lure, NC was recently listed as one of Ten Best Lake Towns in North America by SmarterTravel.(SmarterTravel provides independent expert advice and unbiased reviews for the best travel deals, destinations, and money-saving travel tips.)  We appreciate having this recognition.

8.    Upcoming Events: Please click here for further details on events.

•    8/9-11/19: 15th Annual Lake Lure Olympiad

•    8/21/19: Mountain Branch Library will host the next Books and Bites Author, Mary Alice Monroe, another popular author who will be presenting her latest  novel, “The Summer Games”.

•    9/13-14/19: Dirty Dancing Festival

•    10/19-20/19: Lake Lure Arts and Crafts Festival

•    11/9/19 from 9:00-4:00 at Town Hall: Lake Lure Annual Artist Show and Sale 

C.  Town Manager Communications including updates on the Lake Lure Dam, Sewer System, Downtown Wi-Fi, Lake Patrol, Dredging, 2019 Fireworks Events.

Please click here for details on these important issues and the rest of the meeting summary.

 

 

 LAKE LURE’S WEED PATCH MOUNTAIN TRAIL WINS NATIONAL AWARD


Weed Patch Mountain Trail, in the Town of Lake Lure, NC has been recognized as one of the best new trails in the nation. In a ceremony on Capitol Hill, the national Coalition for Recreational Trails announced its annual achievement award in the category of trail design and construction. The award went to Conserving Carolina and to Chris “Shrimper” Khare for their work on Weed Patch Mountain Trail.

Weed Patch Mountain Trail, which opened last year, travels for 8.6 miles through the Town of Lake Lure’s Buffalo Creek Park and connects to Chimney Rock at Chimney Rock State Park. It offers stunning scenery and back country adventure for both hikers and mountain bikers. It also provides the first access to Eagle Rock, a newly established destination for rock climbers. Its spur trail to Eagle Rock in Chimney Rock State Park passes through a natural rock tunnel.


“This is an outstanding achievement, and I join Conserving Carolina’s members, volunteers, and the surrounding communities in celebrating this honor,” said Senator Thom Tillis. “As an avid outdoorsman, I stand in awe of the spectacular views and natural beauty of NC. I am glad that Conserving Carolina’s hard work, commitment to our community, and thoughtful design has been acknowledged.” Please click here to read more about this award.


The award was presented at the 7/19/19 Town Council Meeting to those photographed, left to right: Commissioner Stephen Webber, Ed Dittmer, Larry Czajkoski, Jim Walters (representing the Lake Lure Parks and Recreation Board). On the far right is Peter Barr with Conserving Carolina.

For more information on Weed Patch Mountain Trail please click here

For more information on Lake Lure Parks and Trails, Please click here.  

 


 

BANK MERGER IN LAKE LURE

           

Carolina Financial Corporation (Nasdaq: CARO) (“Carolina Financial”) and Carolina Trust BancShares, Inc. (Nasdaq: CART), the parent company of Carolina Trust Bank (together, “Carolina Trust”) jointly announced today the signing of a definitive merger agreement.

Subject to the terms of the merger agreement, Carolina Trust shareholders will receive 0.3000 shares of Carolina Financial common stock, or $10.57 in cash for each share of Carolina Trust’s common stock outstanding, subject to election and proration such that the aggregate consideration will consist of 90 percent Carolina Financial stock and 10 percent cash.  Based on Carolina Financial Corporation’s closing stock price of $35.62 as of July 12, 2019, this equates to an aggregate deal value of approximately $100.1 million.

Carolina Trust, which is headquartered in Lincolnton, North Carolina, currently operates 11 banking locations and a loan production office in and around the Charlotte – Concord – Gastonia, NC-SC metropolitan statistical area.  As of March 31, 2019, Carolina Trust reported assets of $621 million, gross loans of $474 million and deposits of $523 million.

“This transaction allows for Carolina Financial to deepen its market presence in North Carolina. Carolina Trust represents the best opportunity for Carolina Financial to expand our footprint in these markets and the merger will allow us to execute on many of our publicly stated goals,” said Jerry Rexroad, Chief Executive Officer of Carolina Financial. “We welcome the Team Members at Carolina Trust to our organization.  This partnership is an excellent opportunity to create value for both institutions.” Upon completion of the acquisition, the combined company will have over $4.5 billion in assets, $3.1 billion in loans and $3.3 billion in deposits.  This transaction will further solidify Carolina Financial’s position as one of the largest Carolinas-based community banks.

Jerry Ocheltree, President and Chief Executive Officer of Carolina Trust, will be named President of CresCom Bank’s North Carolina Commercial Banking Operations.  “We are excited about partnering with a high-performing company that shares our community banking culture and values like Carolina Financial. We find the strategic fit of the two organizations compelling, especially for our customers that will benefit from the broader array of products and services,” commented Jerry Ocheltree.  “We will leverage the new resources and products available to us through CresCom Bank and are attracted to the opportunity to operate in our current markets with a significantly larger scale.”

The merger agreement has been unanimously approved by the boards of directors of each company.  The transaction is expected to close in the first quarter of 2020 and is subject to customary conditions, including regulatory approval and Carolina Trust shareholder approval.  Upon completion of the transaction, Mr. Johnathan Rhyne, Carolina Trust’s current Chairman of the Board, will be appointed to the Carolina Financial and CresCom Bank boards of directors.

Sandler O’Neill & Partners, LP served as financial advisor and Nelson Mullins Riley & Scarborough LLP provided legal counsel to Carolina Financial.  Raymond James served as financial advisor and Wyrick Robbins Yates & Ponton LLP served as legal counsel to Carolina Trust.

Please click here to read the rest of the story.

 


 

SPECIAL THANKS FOR KEEPING OUR TRAILS AT THEIR BEST!

 

Thanks to those who supported the Town of Lake Lure and the Rutherford Outdoor Coalition in the Buffalo Creek Park workday on 7/8/19!  This awesome team removed 2 trees that were blocking the trail and trimmed back some plants and trees that were growing into the trail.  They cleaned out all the drainage ditches on the south side of the trail and created over 20 berms to help divert water off of the trail.

WE ALL APPRECIATE YOUR EFFORTS TO MAINTAIN THESE INVALUABLE TRAILS!

 

 


 

BUFFALO CREEK ROAD UPDATE - NEAR RUMBLING BALD RESORT

 
Buffalo Creek Road, North of Fairfield Mountains Fire Department in the Town of Lake Lure, NC has reopened. The road has been filled in and graveled. This portion of the road will remain in a gravel state for the foreseeable future. It is now open for all traffic.

 


 

LAKE LURE - 10 BEST LAKE TOWNS IN NORTH AMERICA

 

Lake Lure was recently listed as one of Ten Best Lake Towns in North America on SmarterTravel.  (SmarterTravel provides independent expert advice and unbiased reviews for the best travel deals, destinations, and money-saving travel tips.) You may click on the link above to read the entire article or read the reference for Lake Lure below.

At the edge of the Blue Mountains, the scenic town of Lake Lure was the film set for the 1987 blockbuster Dirty Dancing. Several locals were extras in the movie. Each summer, residents relive the magic at the Dirty Dancing Festival with a “Baby & Johnny lake lift” competition.
This lake town is an adventurous getaway less than an hour’s drive from Asheville. There are bumper boats, water cannons, waterslides, and certified ski and wakeboard instructors ready to pull you behind their boats. Sunsets are especially spectacular here and best enjoyed by paddleboat or pontoon cruise.

If you go: Spend some time exploring the Blue Mountains foothills that surround the lake. Chimney Rock State Park is the main attraction. From mountain biking and hiking trails you can take in views of Hickory Nut Gorge and see one of the tallest waterfalls east of the Mississippi. There’s also an area where kids can learn to rock climb.
 

 


 

2019 FIREWORKS DISPLAY

    
Thanks to all who supported the 2019 Town of Lake Lure, NC July 3rd Fireworks Event! We hope everyone enjoyed the festivities and the fireworks!  
• Food trucks set up in Morse Park with a wide variety of delicious carnival foods including Fresh Squeezed Lemonade, Snow Cones, Fried Pies, Cheese Steak Sandwiches, Corn Dogs, Hot Dogs, Boiled Peanuts, Roasted Peanuts, Kettle Corn, Cheesecake Covered in Chocolate, and Soft Pretzels.
• People came from all over to enjoy the parks, trails, restaurants, and shops in Lake Lure and Chimney Rock Village. There will be free viewing of the Fireworks in Morse Park, Pool Creek Picnic Park, or anywhere on Lake Lure.
• The Fireworks were visible from anywhere in Lake Lure.  Ticketed viewing was available at the Lake Lure Beach with an All-You-Can-Eat BBQ Dinner.
• Donation for parking went to support the Hickory Nut Gorge Outreach. Come Eat, Drink, and be Merry!  Special thanks to our sponsors, the Town of Lake Lure, the Chamber at Hickory Nut Gorge, Chimney Rock Village and Chimney Rock Village Community Development Corporation.

     

 

 

CONGRATULATIONS LAKE LURE OLYMPIAD COMMITTEE

 
The 1ST Lake Lure Olympiad Open Water Swim Event ”Lure of the Lake” was held 6/8/19 at the Lake Lure Beach. The event was a huge success with 97 swimmers from 5 states participating in the swim. Swimmers competed in a 1.5 mile swim or a 3.0 mile swim, coordinated by the ‘Set Up Events’ team from the Carolina Swim Series. SPECIAL THANKS to all those who volunteered at the event! We appreciate all those who came out to support the swimmers, the Lake Lure Olympiad Committee, and local charities who benefited from proceeds from the event. Beneficiaries include the Hickory Nut Gorge Outreach and local first responders in the Town of Lake Lure, NC.

                 
 
Top photo courtesy of John Kilby. Photos of swimmers in action on 6/8/19 is courtesy of Mark Jump. For additional photos courtesy o Buddy Morrison please click here. Please send your photos to communications@townoflakelure.com and we will look for opportunities to share these.
 

 


ROWING IN LAKE LURE

 
The small but mighty Lake Lure Racing team, led by Wade Oppliger and Leslie Rowland, took to the water for the first time on Saturday, 5/25/19 at the Dogwood Regatta in Oak Ridge, Tennessee. They dedicated their first race as Lake Lure Racing to the memory of Mayor Kevin Cooley--who so enthusiastically embraced their request to become part of the Lake Lure community.
 
We are proud to share their results: Three race entries. Three Gold Medals!
 
CONGRATULATIONS! Please click here to learn more about Lake Lure Racing.
 

 


 

LAKE LURE DAM UPDATES

Please click here for a summary of the dam’s history, present day realities, findings of the exhaustive analysis that has been recently conducted, and the next steps Town Council is taking to ensure the dam meets current day standards.   

 

 

 


SIGN UP FOR EVERBRIDGE TO RECEIVE IMPORTANT NOTIFICATIONS

 

The Town of Lake Lure's Mass Notification System is Everbridge
 

The Town of Lake Lure is implementing Everbridge, a new Mass Notification service that allows the Town of Lake Lure to alert you when necessary. This is the notification system utilized by Rutherford County and it will replace the Code Red System that is currently in place. You may opt-in to enter your contact information and subscribe based on your location. The information you provide is protected and will not be used for any other purpose.

Timeline

The Town of Lake Lure will complete the transition from Code Red to Everbridge by July 1, 2019. Dual notifications will be made until this date.  You may unsubscribe from Code Red after subscribing to Everbridge to avoid dual notifications.

How It Works

When the Town of Lake Lure issues a notification about a potential safety hazard or concern, you will receive a message on the voice or text communication methods that you have registered. If requested for the notification, you can confirm that you have received the message and you will not be contacted by any subsequent methods regarding that particular notification. If you do not confirm, the system will continue to attempt to reach you at all of the contact paths that you have registered.

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Please click here to create an account and add your contact and location information into the Mass Notification system. All information you provide will be kept strictly confidential.

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