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Commissioners approve $1.002 million Next Generation Farm Loan for King family farm
Summary
The Lancaster County Board of Commissioners unanimously approved Resolution No. 11 to support a $1,002,000 Next Generation Farm Loan application for Allen M. and Rosemary B. King, with $682,000 financed by the Penn Township Lancaster County Industrial Development Authority for a Narvon farm. County credit is not pledged.
The Lancaster County Board of Commissioners on Feb. 25 unanimously approved Resolution No. 11, endorsing a Next Generation Farm Loan application totaling $1,002,000 on behalf of Allen M. and Rosemary B. King. Commissioner Joshua G. Parsons made the motion and Commissioner Alice Yoder seconded it; the motion passed unanimously.
The Industrial Development Authority will provide $682,000 in financing for the farm located at 448 Jacobs Road in Narvon, Salisbury Township. The resolution states the project conforms to the public purpose and eligibility requirements of the Pennsylvania Economic Development Financing Law and cites compliance with the Tax Equity and Fiscal Responsibility Act of 1982; it also specifies that the approval does not pledge the county's credit or taxing power.
