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Vernon County committee approves $46,775 loan to Midwest Hospitality Service after closed session
Summary
Following a closed session under state statute, the Economic Development Committee approved a $46,775 loan to Anthony Horner and Midwest Hospitality Service, LLC, with Vernon County taking first position on equipment and third position on the mortgage; vote was 6–0 with one abstention.
After a closed-session review of applicant portfolios under Wis. Stat. § 19.85(1)(e), the Vernon County Economic Development Committee on Aug. 2 approved a $46,775 economic development loan to Anthony Horner and Midwest Hospitality Service, LLC.
Committee members voted to enter closed session at 10:20 a.m.; the roll-call vote to enter closed session was recorded and the meeting reconvened in open session at 10:53 a.m. In open session, Kevin Larson moved to approve the loan and David Strudthoff seconded. The committee noted Vernon County would hold first position on the equipment loan and third position on the mortgage. The motion passed with six yes votes and one abstention (Tom Weston).
Jon Bingol of MRRPC had presented the loan program report earlier in the meeting, including fund balances and administration considerations; the committee also directed staff to review the loan manual and evaluate withholding a portion of funds to cover administration fees at a future meeting. The loan approval is subject to any closing conditions in the loan documents and county procedures.
