During a recent government meeting, significant updates were shared regarding the financial status of the Clinton Center and the Shimon County Business Relief Fund.

The meeting began with the announcement that a $900,000 commercial loan to the Clemens Center has been fully paid off. This loan, which was part of a larger expansion project initiated in April 2010, was funded through annual contributions from the county, primarily sourced from hotel tax revenues. Board members were reminded to retain the closure letter for their records, and it was suggested that a copy be sent to the Clemens Center.

Attention then shifted to the Shimon County Business Relief Fund, where discussions revealed a shift in the fund's structure. Originally intended as a loan program to ensure sustainability, there was a push from some stakeholders to convert it into a grant program. However, the board emphasized the importance of maintaining the fund as a loan program to allow for its continued operation in the future. As a result, the board decided to have REDAC return $56,300 to the Bridal, with additional funds to be returned quarterly as loan payments are received. Future considerations for the fund's structure were also discussed, with potential changes anticipated for the upcoming year.

In another financial update, the board addressed a $1.3 million loan with StreetAC related to infrastructure development at Airport Corporate Park South. To alleviate financial pressure, the board successfully negotiated a five-year deferral on loan payments, which will save the IDA significant funds in the short and long term. This decision aligns with similar arrangements made with Steuben County.

The meeting also touched on ongoing marketing efforts for various properties, particularly the Airport Corporate Park South site, which has faced challenges in attracting buyers despite extensive marketing efforts over the past two decades. The board acknowledged the need for continued promotion and exploration of alternative strategies to enhance the site's appeal.

Finally, an update was provided on 17 Aviation Drive, where interest from a potential client has emerged. The company, which operates global jets, is considering a rental agreement that would see them occupy a significant portion of the facility, furthering the county's economic development goals.

Overall, the meeting highlighted the board's commitment to financial responsibility and proactive measures to support local businesses and infrastructure development.