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Committee hears loan fund update; holds closed session to review loan application
Summary
The committee recorded a loan fund balance of $313,422.48, noted recent and expected closings, and entered a closed session under Wis. Stat. §19.85(1)(e) to review a loan application; no action was taken after the closed session.
The Vernon County Economic Development Committee on April 2, 2026, received an update on the county’s economic development loan fund and moved into a closed session to review a loan application. Amy Oliver reported a fund balance of $313,422.48 as of March 31, 2026.
Oliver told the committee that Campbell Brothers closed on the Cheese Corner on April 1, 2026, and that a closing for the Westby House was expected by the end of April. She also said that one new loan request would be discussed in closed session and that the MRRPC invoice for 2025 loan-administration services would be sent after the audit.
At 9:52 a.m. the committee, on a motion by Nathaniel Slack seconded by Bruce Kilmer, entered closed session pursuant to Wisconsin Statutes Section 19.85(1)(e) to review the loan application; the motion passed unanimously. The committee reconvened in open session at 10:16 a.m. on a motion by Nathaniel Slack, seconded by Patrick Sullivan. No action was taken on items discussed in closed session, according to the minutes.
The update was recorded as part of regular business; the minutes do not record any formal authorization or loan approval at the April meeting.
