UNC School of Government gets $7.1M pledge

May. 22, 2014 @ 03:07 PM

The Local Government Federal Credit Union has pledged $7.1 million to the School of Government at the University of North Carolina at Chapel Hill for initiatives to support local governments around the state.

Chancellor Carol Folt announced the pledge during Thursday's meeting of the UNC Board of Trustees.

The School of Government's Development Finance Initiative will get $2.84 million over 10 years to help economically distressed North Carolina communities. The school also gets $2.04 million over 10 years to create an Innovation Fund for new and existing projects.