CDC cuts budget, approves business loans
The County Development Commission dealt with a 10 percent budget cut order from the county last week and approved loans for two businesses. The budget cut was a matter of juggling from one area to another and cutting a few items, notably a $10,000 consulting fee that had been budgeted previously.
The PI Commissioners made the decision to cut $10,000 from the $102,000 budget leaving an operating budget of $92,000 for the coming year. With little discussion, members unanimously passed a motion to approve the revised budget.
Two business loans for $30,000 were approved and a third was rejected. A $10,000 loan at two percent interest was approved for Elowsky Grist Mill owners Gary and Rita Tiffany for a bed and breakfast project. A loan was also approved for Mary Ann Dewey of Hawks for her business “Recollections,” a historical clothing business. That loan is for $20,000 at 5.5 percent.
by Gail Maggi, PIN Reporter
