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Council discusses early payoff of city building mortgage after lender offers $50,000 reduction
Pendergrass City Council · November 19, 2025
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Summary
Council members reported negotiations with the building's mortgage holder, who offered a $50,000 principal reduction; council discussed applying available reserve ('splash') funds toward an early payoff and requested written confirmation of the lender—s offer.
Pendergrass City council members discussed a possible early payoff of the mortgage on a city-owned building after the lender, identified in the meeting as "Woody DeLong, UK Partners," offered a $50,000 principal reduction.
Speaker 1 said the mortgage balance was currently at about $414,000 with an…
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