Committee flags delinquent loans, votes to discuss defaulted borrower in closed session
The committee heard staff report showing a $195,833.39 loan‑fund balance, discussed borrowers behind on payments (including 'Norwegian Hollow' and 'Old Town' references), and voted unanimously to enter closed session under Wisconsin Statute Section 19.85 to discuss a loan in default.
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During the economic development loan‑program update staff reported the fund balance and recent interest and described outreach to loan recipients with missed payments. The report noted that some accounts appear past due by multiple payments for borrowers described in the packet and that staff had placed calls without full response.
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