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Altoona council approves up-to-$800,000 loan guaranty for Terrace Hills Golf Course
Summary
After a brief public hearing with no speakers, the council approved a resolution authorizing a loan agreement and guaranty not to exceed $800,000 to support improvements at Terrace Hills Golf Course (CS Corp.).
The Altoona City Council on Sept. 2 approved a resolution authorizing a 2025 loan agreement and guaranty for CS Corp., the manager of Terrace Hills Golf Course, to support financing of course improvements.
City Administrator Randy Pierce said the hearing was "to approve a loan agreement between Vision Bank and Terrace Hills Golf Course (CS Corp.)." Pierce explained that under a management agreement the city will provide CS Corp. with a guaranty for improvements and that the resolution implements that guaranty; the loan amount referenced at the hearing is not to exceed $800,000. The council opened the public hearing at 6:35 p.m.; no members of the public spoke and the hearing closed at 6:36 p.m.
The council approved the resolution by roll-call vote recorded as 4-0. The transcript does not specify loan terms, repayment schedules, or the exact improvements to be funded; those details are in the underlying loan documents not included in the meeting record.
The action was taken as part of the council’s consent of agenda business and was recorded in the meeting minutes.
