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Citizens Advisory Review Committee reports nearly $700,000 in fund; $150,000 earmarked for Kensington project
Summary
The Citizens Advisory Review Committee reported just under $700,000 in cash in its Local Option Economic Development fund, with about $150,000 earmarked for a future Kensington project; all loans are current and a new applicant will be forwarded to council.
At a public hearing, the chair of the Citizens Advisory Review Committee reported the committee's semiannual status: the Local Option Economic Development fund holds just under $700,000 in cash, and roughly $150,000 of that had already been earmarked for a future project with the Kensington. "We have just a tick under $700,000 in cash available on the fund right now. About a 150,000 of that is already earmarked for our future project with the Kensington," the committee chair said.
The chair told the council that all loans in the fund are current and that things have been quiet; a new applicant will be forthcoming to the council for consideration. A council member added that a payment for the paddock is scheduled for September. There were no public questions before the hearing was closed by motion at 6:07 p.m.
