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Council lets MEREC board approve revolving‑loan applications without full council review
Summary
The council approved a resolution allowing the Missouri Rural Enterprise and Innovation Center (MEREC) board to review and approve revolving‑loan applications, citing federal grant confidentiality requirements; the city serves as MEREC's fiscal agent.
The Kirksville City Council voted to authorize the Missouri Rural Enterprise and Innovation Center (MEREC) board to review and approve revolving‑loan applications without bringing each application to the council. City Manager Mary Maycomber said the city acts as MEREC’s fiscal agent and that federal grant rules restrict disclosure of small‑business development details.
"The Merit Board applied for and received a revolving loan grant," Maycomber said, noting federal guidelines that limit what information may be released about applicants. The resolution is intended to allow the board to act while preserving confidentiality required by the grant terms.
