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PDC board approves revised Luna LLC loan after executive session
Summary
Portland Development Commission board approved a staff-recommended revision to a loan request from Luna LLC Jan. 1, 2025, after moving briefly into executive session; staff said the funds will buy equipment and provide about 60 days of working capital.
The Portland Development Commission board approved a revision to a loan request from Luna LLC on Jan. 1, 2025, voting to accept the staff-recommended changes after meeting briefly in executive session.
Board members moved the discussion into executive session to review the loan terms, then returned to public session and voted to approve the revised request as recommended by staff. Nancy, a staff member who presented the item, acknowledged an error in the paperwork and said the revised request reflects additional upfront financing the company needs. “It really, is basically a typo,” Nancy said, and later added,…
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