Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Council tables Redwire loan, approves $50,000 forgivable loan for Proper Pilots amid funding questions
Summary
Commissioners tabled action on a $312,000 forgivable loan tied to Redwire until a joint meeting, and approved a $50,000 forgivable loan to Proper Pilots 5-2; council members asked for clearer documentation of funding sources.
County CFO Stan Heil reported a signed agreement promising Redwire a $312,000 forgivable loan upon initial occupancy of its new facility, but the council voted to table the Redwire item until a joint meeting on Jan. 16 "and take up with the Commissioners about how they want to fund" the loan. The minutes record that the motion to table was moved by Denise Konkle, seconded by Jim Freiberger, and passed unanimously.
On a separate revolving loan, Heil told the council Proper Pilots has taken occupancy in Innovation Park and "has been granted an opportunity for a $50,000.00 forgivable loan. First payment is $25,000.00. Second payment will be in three years, once they meet additional economic requirements." The council approved that loan 5-2; Jim Freiberger and Dale Bagshaw voted no. Commissioner Denise Konkle pressed for the agreement to state funding sources, noting there is "only $164,676.34 in the Revolving Loan Fund" and asking where the remainder would come from; Heil responded that "it would come out of EDIT." Konkle told the council "this needs to be stated in the agreement."
