The Dare Education Foundation Board of Directors agreed to the terms of a $2.25 million, 10-year interest-free loan from the State Employees Credit Union Foundation to build 24 2 bedroom apartments that will be rented for approximately $750 per month. There will be three buildings, eight apartments per building, located at 109 Veterans Drive in Kill Devil Hills. These apartments will be specifically built for teachers in Dare County, North Carolina. With completion expected by August 2008, the housing will be in place for teachers beginning the 2008-2009 school year. To further assist with this worthy venture, the Town of Kill Devil Hills will waive $148,000 in the project’s permitting fees.
For further information, contact Amy Montgomery, Executive Director of the Dare Education Foundation, 252-255-5545.