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Appling County approves $300,000 RLF loan for Baxley business renovation
Summary
The Appling County Board of Commissioners unanimously approved a $300,000 loan from the county's Community Development Block Grant revolving loan fund to Jay Dhaliwal and Associates Inc. to renovate a convenience store, laundromat and fueling operation in Baxley; repayment will be monthly over five years at 6% interest.
The Appling County Board of Commissioners voted unanimously June 4 to approve a $300,000 loan from the county's Community Development Block Grant/Revolving Loan Fund to Jay Dhaliwal and Associates Inc. for renovation and expansion of a convenience store, laundromat and fueling operations in Baxley.
County Manager Al Meadows introduced the project as one that "will create new employment opportunities in Appling County including jobs for low to moderate income persons." Judge Alex Johnson summarized how the program is administered: repayments go to the Georgia Department of Community Affairs, are collected monthly for five years at 6% interest, and are returned to the county's revolving fund for future loans.
The Appling County Development Authority has determined the project will promote trade, commerce, industry and employment opportunities in the county. Commissioner Charlie Leggett moved to approve the loan; Commissioner Randy Sellers seconded the motion, which passed unanimously with the full board voting yes.
What the loan covers and oversight: County officials said the RLF loan is intended to support private investment that creates jobs and that the Development Authority will assist with oversight of the project. The board did not provide additional project details in the minutes (for example, construction schedule or collateral requirements were not specified). The repayment schedule provided to the board is monthly payments over five years at 6% interest.
Next steps: With the board's approval the county and the borrower will complete the formal loan documents and repayment will be handled through the Georgia Department of Community Affairs as described to the board.
