Botkins officials discuss Hageman loan payoff and $1.1 million industrial-park road estimate

Fiscal Officer Hannah Paul told the Village of Botkins Council on Feb. 11 that a software error changed the 2025 ending and 2026 starting cash balances in the Ohio cash-basis report and that she has opened a ticket with the vendor. She said she is waiting for the vendor fix before filing the financial reports with the state.

Paul reported the principal balance on the Hageman loan is $488,630.38 (accumulated interest not included) and that the loan payoff date is Feb. 25, 2026. She said the Village does not have a full quorum tonight to pass the transfer legislation required to move funds; as a result, Resolution No. 26-06 will be tabled until the next meeting. Paul also said a check can be issued to pay the loan and that if the transfer ordinance is passed at the next meeting the Village can finalize the fund transfer before month-end.

Village Administrator Randy Purdy reported Access Engineering estimated the industrial-park road at approximately $1.1 million. Purdy said a two-phase approach would make phase one about $640,000; under the Ohio Rural Industrial Park Program the Village might receive a $479,985 loan with one-half forgivable and the other half carrying a 0.25% interest rate, yielding an estimated net cost to the Village of $399,988.13. Purdy said the program's application fee is $1,500 and is nonrefundable, and he will research whether projects of similar size historically received awards before bringing a recommendation back to Council.

Paul also said she is beginning a 2026 project to scan historical financial records so past invoices and checks become searchable PDFs.