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EAC approves $5 million loan to support Promontory Commerce Center infrastructure after reconsideration
Summary
The Executive Appropriations Committee approved a $5 million loan to PCC Land LLC for infrastructure in the Promontory Commerce Center project area after reconsidering an earlier failed vote.
The Executive Appropriations Committee on Sept. 15 approved a $5 million loan for PCC Land LLC to fund regional infrastructure in the Promontory Commerce Center (West Weber) project area after an initial motion earlier in the meeting failed and the committee later reconsidered the item.
Arlene Gibson of the Utah Inland Port Authority presented the proposal, describing a three‑year loan at an interest rate of 3.28 percent and a repayment source of company funds plus future…
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