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Monroe Motors seeks $350,000 ALDC loan to buy dump truck, gutter machine and spray-foam rig
Summary
Monroe Motors told the council’s finance committee it is seeking a $350,000 ALDC loan to expand demolition and building services; the JLDC approved the amended application and city council will vote next week because the request exceeds $100,000.
Phil Monroe, owner of Monroe Motors, told the council and staff the company has submitted an amended application to the Jamestown Area Local Development Corporation (ALDC) seeking a $350,000 loan to support equipment purchases and a $721,464 expansion project.
Monroe described three categories of equipment the company said it would buy with loan funds: a full-size tandem dump truck (a non-CDL-capacity model under 26,000 pounds gross vehicle weight), a gutter-forming machine and a…
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