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Commission discusses loosening restrictions on development authority revolving loan fund
Summary
Commissioners reviewed a proposal to reduce constraints on funds the county placed with the Hampshire County Development Authority, potentially broadening eligible infrastructure uses beyond strict third‑party revolving loans.
The Hampshire County Commission discussed on June 10 whether to loosen restrictions on funds previously transferred to the Hampshire County Development Authority (HCDA) for infrastructure purposes.
Commissioner Mance, who sits on the development authority, said the original county transfer intended to jump‑start local infrastructure projects as a revolving loan fund for third‑party borrowers. He proposed changing the rules so HCDA could use the funds more flexibly for infrastructure development — for example, as matching funds for larger projects, for internal infrastructure work like fiber installation in a business park, or other county development needs — while still restricting use away from operating expenses such as salaries or office furnishings.
County staff and other commissioners said they supported clarifying the intended uses and reducing unnecessary restrictions so the development authority could act more nimbly; they asked the authority board to propose rate and detailed policy language. The commission requested the authority’s executive (JT) to draft a short proposal clarifying permissible uses and bring it back for the commission’s record and future action. Commissioners reiterated the expectation that the development authority would consult the commission on significant expenditures.
