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Maroon & White president says Kids’ Campus board signed bank financing, continues to seek better rates
Summary
Melody Hoy told the council Maroon & White has signed financing offered by GNB Bank for the Kids’ Campus project but is still shopping for better rates; the organization is awaiting a decision on a one-year deferment of a GCMU loan and continuing fundraising efforts.
Melody Hoy, president of Maroon & White, Inc., updated the council on long-term financing for the Kids’ Campus project, saying the board agreed to and signed the financing offered by GNB Bank while continuing to shop for better rates and options. Hoy said the group is waiting for a final answer on deferment of the GCMU loan for one more year and that paperwork on that request is being processed.
Hoy told council members fundraising remains under discussion to reduce the final long-term debt and encouraged those working on estate planning to consider donations to the Kids’ Campus. No formal council action was requested or taken at the meeting.
