The City of Morganton has been granted a $5.4 million interest-free loan from the state's new $100 million cashflow loan program designed to assist local governments with Hurricane Helene-related recovery efforts.

The loan comes with a 5-year payback plan and is intended to fund debris removal and emergency response costs already incurred. However, concerns have been raised about the loan's ability to address the City's total damage report of $46.27 million.

Additionally, the City approved a speed limit reduction near a local school and a rezoning request for potential high-density residential projects as part of the IMAGINE 2040 plan.

Other council updates include hearings on community development grants, a small business loan approval, and a contract for hurricane recovery work.