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EDA reviews loan files, approves Tinker Makes fix and closes Farm Charm claim under budget
Summary
Director Hahn reported missing loan documentation is being updated; the board approved a $1,000 addition to Tinker Makes' project for capstone repairs and accepted Farm Charm's final $1,500 invoice, which brought that project in about $1,917 under budget.
EDA Interim Director Chris Hahn told the board staff will focus on updating documentation for the Revolving Loan and Commercial Rehabilitation Loan programs after several files were found missing; the minutes say the missing documentation has since been provided.
The board approved a $1,000 increase to Tinker Makes' previously authorized $25,681.52 Downtown Revitalization project to cover capstone reconstruction discovered during tuckpointing. Separately, Farm Charm submitted a final invoice of $1,500; according to the minutes the project finished approximately $1,917 under its approved budget (approved amount $9,857; reimbursed $7,940).
