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Commissioners approve 10-year, $150,000 loan to Pen Pallet at 1.5% interest
Summary
The board approved a 10-year loan of $150,000 to Pen Pallet at a 1.5% interest rate; discussion at the meeting raised potential job creation and broader recreation funding priorities but did not quantify jobs expected.
The board approved a 10-year loan to Pen Pallet in the amount of $150,000 at an interest rate of 1.5 percent, per a motion introduced during the meeting. The motion was described as recommended by staff or a committee; the meeting transcript did not name a mover or list a roll‑call vote record.
Members asked whether the loan would add jobs. A speaker said the company is starting a related business cutting material between layers of glass and that most customers are in the glass industry; discussion referenced past foundation contributions for recreation projects and emphasized pursuing feasibility funding and outside grants (including DCNR small community grants) for capital projects rather than relying solely on county funds. The record does not contain a quantified jobs commitment or economic‑impact estimate tied to the loan.
