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Darrington council approves commercial line of credit to advance Innovation Center
Summary
The Town of Darrington approved Resolution GR 350 authorizing a commercial line of credit with Coastal Community Bank to fund early work on the Darrington Innovation Center; the Economic Development Authority is expected to reimburse the town for costs and fees.
The Darrington Town Council voted to authorize a commercial line of credit with Coastal Community Bank to cover near-term costs for the Darrington Innovation Center project. Gary Willis moved approval of Resolution GR 350 and Evan Craig seconded; council members voted unanimously to carry the motion.
Council discussion noted that the Economic Development Authority (EDA) will reimburse the town for project costs and fees. According to council remarks during the meeting, repayment timing was described informally as "a week," though the meeting record did not include a formal repayment schedule. No other financing terms were detailed publicly during the session.
Julie Ford, a councilmember present for the vote, later joined other members in approving routine matters; the motion on the line of credit formally authorized the mayor to sign the resolution.
The financing action is intended to allow grading and early roadwork for the Innovation Center to proceed while final external funding sources are confirmed.
