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Committee approves $8,922.58 MRRPC admin fee, hears economic loan program update
Summary
The committee approved paying the Mississippi River Regional Planning Commission $8,922.58 for 2024 administrative services tied to the county loan program and heard that loan recipients are current on payments and that new business inquiries are in early stages.
The committee approved payment to the Mississippi River Regional Planning Commission (MRRPC) for 2024 administrative costs tied to the county’s economic development revolving-loan program and received a routine program update.
Amy told the committee the MRRPC invoice for 2024 administration totaled $8,922.58 and that the committee previously approved paying similar invoices; she asked the committee to authorize a check drawn from the program account to cover the fee. A committee member asked whether MRRPC could provide a more detailed breakout—hourly staff time, percentage-of-loan-balance fees or similar—on future invoices; staff said they would request supporting documentation going forward.
John (committee member/staff) reported the loan program balance was about $279,614.05 as of May 31 after principal payments and interest, and said all loan recipients were current on payments. He noted two inquiries for new loans: one business exploring a different revolving fund and an early-stage pizza start-up. No new loans were approved at this meeting.
A motion to pay the MRRPC admin invoice was made, seconded and approved by voice vote. The committee asked staff to request itemized backup from MRRPC for future invoices to clarify how admin fees are calculated.
Speakers quoted in this article come from the committee and staff updates recorded in the meeting transcript.
