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Murray County board approves three EDA revolving loans for local properties and businesses
Summary
The Murray County Board approved three Economic Development Authority (EDA) revolving loans: $21,006.51 to Randy Wanya for rental repairs, $30,000 to Paul Malone for a building roof, and $4,618.05 to Patty Van Essen for an air conditioner, each with low interest and deferred principal terms.
The Murray County Board of Commissioners on Tuesday approved three EDA revolving loans to local applicants for property repairs and business equipment.
Chair (speaker 2) told the board the applications had been reviewed by the county's EDA and recommended approval. The first loan, for applicant Randy Wanya, is $21,006.51 at 2 percent interest for 10 years with principal deferred for six months; the board approved the motion. The second loan, to Paul Malone, is for $30,000 with similar terms (five-year payments were noted in discussion) and was approved. The third loan was for Patty Van Essen of the Buffalo Ridge Bar in Lake Wilson: $4,618.05 at 2 percent for 10 years with a six‑month deferral; that motion also carried.
Board members moved and seconded each loan individually; each motion passed on a voice vote with no recorded roll-call in the transcript. Chair (speaker 2) said these loans had been approved by the EDA and recommended by staff before the board vote.
The loans use the county's EDA revolving loan fund to support repairs and equipment for local landlords and a small business. The board did not detail repayment schedules beyond the interest rate, term and six‑month principal deferral noted during the meeting. There were no public objections recorded in the transcript.
The board moved on to other business after approving the loans.
