Anna EDC/CDC approve refinancing, budget amendment and incentives in unanimous voice votes

The Anna Community Development Corporation and Anna Economic Development Corporation joint board approved a series of resolutions and procedural items during its Sept. 4 meeting, including refinancing of 2023 property loans, a $500,000 principal payment on a taxable loan, a schedule change for November meetings and an incentive agreement with Fourth and Main Barber Company.

The board approved a tax-exempt loan resolution authorizing a loan not to exceed $1,442,381.90 to refinance debts tied to nine properties purchased in 2023. The board also approved a separate taxable loan resolution authorizing a taxable loan not to exceed $916,754.34 for the same refinancing package. Both loan resolutions were approved by voice vote.

The board then approved Resolution No. 2025-09-11, an amendment to the 2025 fiscal-year budget to reallocate funds and to authorize staff to make a $500,000 payment on the $916,754.34 taxable loan to reduce principal. The motion to authorize the $500,000 payment passed by voice vote; a second was recorded as “Mister Williams.”

Other procedural votes included…