Aldermen approve using fund balance while applying for SRF loan to cover $630,000 CDBG shortfall
After discussing a roughly $630,000 shortfall in county CDBG funds for the town's water project, the council voted to move forward using town fund balance while applying for a State Revolving Fund loan as a fallback; loan terms and reimbursement mechanics remain uncertain.
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Decatur aldermen voted to move ahead on the town's water project using the town's fund balance while simultaneously applying for a State Revolving Fund (SRF) loan as a fallback, after discussion about a roughly $630,000 gap in county CDBG support.
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