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Drummond approves $315,000 loan to fund park pavilion construction
Summary
The Town of Drummond voted July 8 to let Chairman Roy Bloom secure a $315,000, 10-year loan at 4.5% to finance a new park pavilion; the board discussed other loan options and authorized construction to proceed after permits were issued.
The Town of Drummond board on July 8 approved a resolution allowing Chairman Roy Bloom to secure financing of $315,000 at a 4.5% fixed rate for 10 years to fund construction of a park pavilion.
The board considered loan options presented during the meeting, including an adjustable-rate offer from Chippewa Valley Bank (4.25% for the first three years, 4.5% for the next five years, then index-based thereafter) and a 10-year fixed 4.5% offer from Bremer Bank. After discussion the board adopted Resolution #20250610 by a motion from Supervisor Jeff Hurula, seconded by Supervisor Scott McKinney; the minutes record the motion as carried.
Public Works Director Mark Jerome told the board the building permit for the pavilion has been issued and construction scheduling will be coordinated; he said the old pavilion will be moved to the dump and new posts and trusses are scheduled to go up the following week. The board also discussed roadside mowing and related logistics tied to the project.
The resolution authorizes the chairman to secure the loan; the minutes do not record a roll-call vote tally. The board did not specify finer financing terms beyond the approved principal and fixed rate, and the motion notes the town will proceed with coordinating construction start dates now that funding authorization is in place.
The next Town Board meeting is scheduled for Aug. 12, 2025, where the board may revisit implementation details or contractor scheduling.
