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Johnston council approves $60,000 forgivable loan for new West Park medical office
Summary
The Johnston City Council unanimously approved Resolution 25-225, authorizing a $60,000 forgivable loan to J 4 North LLC to support a proposed $2.06 million medical office near West Park; staff cited TIF district sunset constraints and a three-year forgiveness schedule tied to job creation.
The Johnston City Council on Wednesday approved a $60,000 forgivable loan to J 4 North LLC to support construction of a 4,700-square-foot medical office in West Park.
City staff told the council the project represents a private investment of no less than $2,060,000 and said the developer expects to create and maintain 14 jobs. Staff said the loan amount was calculated by projecting 50%…
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