Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Business Loan topic
No spam. Unsubscribe anytime.
EDA reviews Van Hill Properties LLC loan request; staff notes limited available funds
Summary
During new business the EDA considered a loan request from Van Hill Properties LLC. A staff member presented projections, noting year-end balances of roughly $45,000 and about $17,000 in fund 41; the EDA approved the motion by voice vote.
The Economic Development Authority heard a loan request from Van Hill Properties LLC under new business. A staff member presented financial projections, telling the board, "If you were to approve this loan, looking at end of the years, it had about 45,000" and later noting "so it had about $17,000" in fund 41. The staff member also stated that they typically issue "1 to 2 a year," framing the request in the context of limited available loan funds.
Following the staff presentation the EDA moved and approved the loan request by voice vote. The transcript records the substance of the staff presentation but does not record the specific loan amount requested, repayment terms, or conditions attached to any approval.
