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Loan board reviews loan fund balances, delinquent accounts and EDA plan due July 2025
Summary
City staff reported roughly $927,000 in outstanding receivables, named several delinquent borrowers, outlined low available balances in the EDA 2022 fund and CRLF, and requested board feedback on a required EDA plan update due July 2025.
City staff provided the Loan Administration Board with an update on outstanding loans, fund balances and the required Economic Development Administration (EDA) plan update.
“Currently, we have approximately $927,000 still outstanding in our receivables,” Christine said, summarizing delinquencies and collection steps. She named Fountain View Mini Market, Kina L. Braun LLC, BLP Enterprises and Chelsea Fit Factory as accounts with collection activity involving legal counsel or small claims court.
Christine outlined available balances after a recent…
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