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Commission approves revised repayment terms for previously committed Valdosta Housing Authority $1 million loan
Summary
County staff said the action changes repayment terms for a $1 million loan the county previously committed to the Valdosta Housing Authority; commissioners approved the resolution as presented.
County Manager Paige Dukes told the commission that the item concerns a change to the repayment terms of a $1 million loan the county had already committed to the Valdosta Housing Authority.
"As discussed yesterday, this is the same million dollar loan that the county has already committed to. This is a change in the terms of that repayment that is needed for, the current that meets the current needs of the housing authority," Dukes said.
A commissioner moved to approve the resolution "as presented." A second was recorded and the commission approved the resolution by voice vote with no opposition recorded in the transcript.
The action as described in the meeting adjusts repayment terms; Dukes did not provide further detail about the amended schedule or covenants during the public portion of the meeting. The commission approved the resolution and staff will proceed with implementing the revised terms.
