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Council amends revolving‑loan rules, allocates $400,000 to EDC and $300,000 to destination playground
Summary
After a contentious debate, the Common Council approved an amendment moving funds from the city—s Revolving Loan Fund to support Economic Development Corporation operations and a proposed destination, all‑inclusive playground, with two members opposing the measure.
The Michigan City Common Council on Nov. 4 amended the municipal revolving‑loan fund to provide operating support to the local Economic Development Corporation (EDC) and to seed a proposed destination, all‑inclusive playground, while preserving a portion of the fund for future loans.
Councilman Chris Belinski, sponsor and liaison to the revolving‑loan committee, said the ordinance makes available $400,000 for the EDC (two years at $200,000 per year), $300,000 for a grant program focused on a destination playground and other capital beautification projects, and retains $300,000 for future loan activity. "We have…
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