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Council directs EDC/CDC to pursue $100/month repayment plan for SAS Boutique balance
Summary
SAS Boutique, a Pioneer Grant recipient that closed in August, has repaid $10,000 of a $12,000 owed amount. Council debated precedent and directed the EDC/CDC to accept $100 monthly payments for the remainder, sending the decision back to the boards with that guidance (motion passed 7–0).
Council reviewed an outstanding repayment for a Pioneer Grant awarded to SAS Boutique. The grantee had been awarded $20,000, closed operations in August and was contractually obligated to repay $12,000. The business remitted $10,000 on Sept. 3, leaving a $2,000 balance.
Nathan said the EDC and CDC had considered multiple options and the recommendation before council was to accept the $10,000 and a $100-per-month payment plan for 20 months for the remainder. Some council members expressed concern about setting a precedent for lenient enforcement, but others noted the grantee's prompt $10,000 payment and recommended closure. The final direction was to send the matter back to the EDC/CDC with instruction to accept the $100/month plan (20 months) for the remaining balance and proceed accordingly.
