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Germantown board approves $750,000 forgivable loan IGA to help Flamingo Marine relocate and expand
Summary
The Germantown Village Board approved an intergovernmental agreement with Washington County that memorializes a $750,000 forgivable loan to Flamingo Marine to support relocation and expansion in Gateway Business Park; forgiveness is tied to company performance and monitored by EDWC.
Germantown’s Village Board voted to approve an intergovernmental agreement with Washington County that formalizes a $750,000 forgivable loan to Flamingo Marine aimed at facilitating the company’s relocation and expansion into Gateway Business Park.
Village staff and Economic Development Washington County (EDWC) told trustees the loan is expected to be repaid from the incremental tax revenue generated by Flamingo Marine’s investment. EDWC CEO Christian Cheslock said the forgiveness provisions are performance‑based: at the end of a three‑year measurement period EDWC will reassess…
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