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Council approves $2M loan to finish Tiger Park project
Summary
Jonesborough approved an initial and full resolution authorizing a loan not to exceed $2 million (via Tennessee Municipal Bond Fund) to complete Tiger Park, with the county expected to reimburse the town under a lease arrangement.
Council approved an initial resolution and a full resolution authorizing a loan not to exceed $2 million to complete remaining work at Tiger Park. Officials said the town had initially hoped to secure the final funding through USDA Rural Development but will now use the Tennessee Municipal Bond Fund to expedite the project.
Janet confirmed the county will reimburse the town 100% under a lease agreement, and council members moved and approved the resolutions on the record. The chair characterized Tiger Park as a successful community asset and said the financing will finalize the remaining work on the site.
