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Council approves loan modification to extend repayment terms for upper-floor loans
Summary
The council approved a loan modification for upper-floor loans associated with Dale Burke that extends the maturity date to Oct. 1, 2036, sets a 15-year amortization and requires monthly payments to resume Nov. 1; the modification converts outstanding balance to principal and requires periodic financial statements to the city.
The La Crosse City Council on Sept. 24 approved a modification to three previously issued upper-floor loans associated with a borrower tied to Dale Burke, changing loan terms to extend the maturity date to Oct. 1, 2036, and implementing a 15-year amortization schedule with…
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