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Pulaski County commission recommends $50,000 loan to local business; one member abstains
Summary
After deliberation on loan sizing and fund preservation, the commission voted to recommend a $50,000 loan to be approved by the county commissioners; one member recused and abstained from the vote, and commissioners requested follow-up documentation from the regional development company on a balance-sheet item.
The Pulaski County Community Development Commission voted to recommend that the county commissioners approve a $50,000 loan to a local business seeking funds to complete building improvements at 108 South Bull Street and to buy exercise equipment for a fitness center.
The Chair summarized the request and the regional development company’s credit memo, noting a credit-score worksheet result of 2.85 and a proposed interest rate of…
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