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PDC board approves revision to Luna LLC loan request after staff clarification
Summary
The PDC board voted unanimously to approve a staff-recommended revision to a loan request from Luna LLC after staff said the change corrected a typographical error and added working capital and equipment financing.
The Portland Development Commission board voted unanimously to approve a revised loan request from Luna LLC, after staff said the update corrected a typographical error and added upfront financing the borrower needs.
Nancy [last name not specified], staff member, told the board the change was “basically a typo” and that staff initially considered another financing source but ultimately proposed PDC provide the full package. She said she realized the backup documents had not been updated after that decision and that the additional amount in the…
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