Selectboard authorizes coordination agreement for Alburgh Family Clubhouse bridge loan
The board authorized a coordination/subordination agreement allowing a bridge loan to cover a VCDP reimbursement; staff said the town remains a grant pass-through and faces no liability, and the motion to sign was approved unanimously.
The full story
Staff described a bridge loan arrangement tied to a VCDP reimbursement grant and an earlier North Country bridge loan that was paid off after an executed USDA loan. "So this is just another, financial bridge, loan," staff said, explaining the town remains in third position and will be reimbursed once VCDP issues its reimbursement.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
Keep reading for free
Create a free account to finish this story and see the video, transcript and key details.
Continue with GoogleContinue with emailAlready have an account? Log in