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Epping Forest special community benefit district seeks $1.5 million loan to renovate marina
Summary
The Epping Forest special community benefit district requested county authorization to impose a 10-year loan ($1.5 million) on district property owners to fund marina renovation; questions raised about project estimates and who repays the loan.
County administration told the council on July 15 that the Epping Forest Special Community Benefit District is seeking county authority to impose a $1.5 million loan, amortized over 20 years with a 10-year term through Manufacturers and Traders Trust Company (M&T), to renovate and replace the community marina. “Epping Forest Special Community Benefits District, is entering into a loan agreement with manufacturers and…
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