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EDHA Loan (updated)

EDHA Loan (updated)

Jun 18, 2014 at 2:00 pm

A Fargo attorney hired by East Grand Forks (MN) to help recover a 510-thousand dollar EDHA loan will forward his recommendation to city leaders on Friday.  City Administrator David Murphy says a closed meeting of the EDHA board and city council will take place next Tuesday to discuss options with Brad Sinclair.   The 1999 loan to Boardwalk Enterprises has gone unpaid.   The loan along with a  90-thousand dollar grant to purchase the lot and a second 400-thousand dollar grant was used to help construct a building that sits on restaurant row.   Former EDHA Director Jim Richter was placed on administrative leave shortly after the loan became public – he retired in April.  

 

 

 

KNOX / Doug Barrett

 

 

 

 

 

 

 

 

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