Tri-County looking to extend borrowing power

Oct 15, 2013

The Tri-County Regional Planning commission is looking to extend its maximum line of credit to $300,000.  That’s a $200,000 increase from its current borrowing capacity with the Southside Bank. Board member Andrew Rand says the expanded credit line is important because of delayed state grant payments:

“I think we’ve got some longer term payments that are still due for work we did in the first-quarter of this year from federal sources that have been slowed down,” Rand says.

The bank must still sign-off on the request to extend the line of credit. The request comes at a time when Tri-County still owes 50-thousand-dollars on a contract with Vital Economy for regional development. In other business the Executive Board is set to vote on a Separation Agreement with its long-time director Terry Kohlbuss Thursday.  Kohlbuss has been on extended leave for nearly a month.