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Aldermen Approve $30,000 Special-Benefit-District Revolving Loan for C Street Holding Corp.; City Attorney to Draft Loan Documents
Summary
The board endorsed a $30,000 loan from the special benefits district revolving loan fund at 5% fixed for 15 years to C Street Holding Corp., and the city attorney will prepare loan documents accommodating a second-position lien across three properties.
The Rutland City Board of Aldermen voted June 2 to approve a $30,000 loan from the City’s Special Benefits District (SBD) revolving loan fund for C Street Holding Corp. The loan was recommended by a subcommittee of the RRA and DRP; terms recommended were 5% fixed interest for 15 years.
Why it matters: The SBD revolving loan fund provides low-interest financing to property owners within the special benefits district to support property…
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