Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Clinic Funding Tri Area topic
No spam. Unsubscribe anytime.
EDA considers 65K grant/65K loan package for Tri-Area Community Health clinic; lien clause proposed
Summary
The Grayson County EDA reviewed terms for a previously approved grant and loan to Tri-Area Community Health to open an express care clinic at the Hugh Chatham building, discussed adding a blanket equipment-collateral clause for $65,000, and considered authorizing officers to sign the agreement to avoid delay.
Members discussed a previously approved funding package for Tri-Area Community Health to open an express care clinic and pharmacy at the old Hugh Chatham building and asked staff whether to add an equipment-collateral clause to the loan agreement and who should be authorized to sign the final documents.
At the prior meeting the EDA made a motion covering a $65,000 grant to Tri-Area Community Health for the express care clinic and a $65,000 loan with the terms described in the minutes (the loan expressed a fixed 3% interest rate and payments beginning the first month after the site receives approval from CMS). Staff said an agreement has been drafted and counsel and county administration are reviewing it.
EDA members raised a question about including an equipment-collateral clause to secure the loan. A staff member and one EDA member recommended a blanket collateral clause covering “furniture, equipment and assets” rather than listing individual pieces because the specific equipment list is not finalized. One EDA member said a blanket clause would “protect us some if somebody has an intervening lien on a specific piece.”
An EDA member moved that the authority file a blanket lien for $65,000 against furniture, equipment and assets and authorize the chairman or clerk to sign the agreement so the execution can occur before the next monthly meeting. The motion was made to avoid delaying the project until the February meeting. The transcript records the motion but does not record a completed roll-call vote or final outcome for that lien motion in the portion of the record provided.
The board discussed that Tri-Area will purchase new equipment for the clinic and that the loan/grant proceeds would support remodel and equipment purchases. Staff noted counsel (and county administration) will review the final agreement; members asked the clerk and chair be authorized to execute the agreement if the language matches the motion so closing can proceed in the coming days rather than wait another month.
