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Douglas County RLF board approves $50,000 loan to Zia Properties
Summary
The Douglas County Revolving Loan Fund Board approved a $50,000 loan to Zia Properties with a four-year term and a 5.5% interest rate after briefly meeting in closed session under state law to discuss the application.
The Douglas County Revolving Loan Fund Board approved a $50,000 loan to Zia Properties on May 7, 2025, for a four-year term at a 5.5% interest rate. The approval followed a closed-session discussion of the application under Wisconsin law.
Board member Andrew Perfetti moved to adjourn the open session and convene in closed session to discuss the Zia Properties loan application under Wis. Stat. §19.85(1)(e); Mark Liebaert seconded the motion. The board took a roll-call vote, with all present voting yes, and adjourned the open session at 1:02 p.m. The open session reconvened at 1:26 p.m., at which time Perfetti moved, seconded by Paul Holt, to approve the loan; the motion carried.
Minutes record no additional conditions or covenants beyond the amount, term and interest rate. The transcript/minutes list Zia Properties as the applicant but do not supply borrower contact details or collateral terms. The board did not record any public comment during the loan consideration in the minutes.
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