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City approves updated revolving loan fund application with $100 fee
Summary
Rushford Village approved revisions to the CEDA revolving loan fund application adding a $100 application fee payable after pre-screen approval; council left the RLF guidelines unchanged and approved the materials as presented.
The Rushford Village Council on March 3 voted to approve a revised application for the Community Economic Development Authority (CEDA) revolving loan fund and the associated guidelines.
Council reviewed final drafts of the RLF guidelines and the revised application, which were discussed at the Feb. 17 meeting. The guidelines were not changed; the application includes a new clause under required attachments stating a "$100 application fee payable to the City of Rushford Village after pre-screen approval (additional loan and recording costs will apply at closing date)."
Mayor Dennis Overland and council members signaled general support for the documents. "They looked good," Overland said during the meeting. The motion to approve the RLF application and guidelines was made by Robert Hart, seconded by Travis Link and carried.
The action allows staff to proceed with the updated application process and collect the specified application fee after pre-screen approval.
