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Finance chair says county reached agreement to eliminate ESG loan debt of about $700,000
Summary
Commissioner Blake told the commission that the Finance Committee agreed in principle to eliminate an historic ESG loan debt (approximately $700,000) and to reduce roughly $6 million from the current budget; a budget amendment will appear at the September finance meeting.
Commissioner Blake told colleagues the Finance Committee met earlier and passed several routine budget amendments and reached an "agreement in principle" to eliminate outstanding debt from an ESG loan taken around 2015–2016. Blake said the ESG portion to be eliminated is "about $700,000" and that the committee expects additional reductions of roughly $6,000,000 in the current budget.
Blake said staff will bring a formal budget amendment to the September finance meeting to implement the change, and commissioners reacted positively to the prospect of reducing county debt.
