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Shelby council approves $5,000 forgivable loan for 502 Western Ave.
Summary
The Shelby City Council unanimously approved a five-year forgivable loan of $5,000 for Michael Mantell’s property at 502 Western Ave., contingent on bank verification; the loan will be secured by the property as a mortgage.
The Shelby City Council on July 21 unanimously approved a five-year forgivable loan of $5,000 to applicant Michael Mantell for the property at 502 Western Ave., pending bank verification. Councilmember Pat Honeywell moved the measure and Jackie Hursey seconded; the roll-call vote was recorded as all ayes.
The loan will be secured against the property as a mortgage, and the approval record notes the grant is contingent on bank verification before closing. The motion and its conditions were recorded in the minutes; no discussion or dissent was documented. The clerk will reflect the loan as secured in the city records after verification is received.
