WILMINGTON — County commissioners are prepared to help finance a Jefferson Township firehouse/EMS construction project through what would be in effect a no-interest loan.
The projected amount of the loan would be $150,000.
The financing option was brought up Wednesday by the county’s legal counsel, Assistant Clinton County Prosecuting Attorney Andrew McCoy.
“If the answer is that you’re not interested in serving as the bank for that portion of the project, then they [township] would need to go down the more traditional route of issuing bonds to be placed on the open market for purchase, obviously at an interest rate,” McCoy said.
As part of the commissioners’ series of joint meetings with township trustees and village councils around the county, commissioners met Monday night at Jefferson Township. On Wednesday Clinton County Commissioner Kerry R. Steed said there have been about $95,000 in cost overruns with the firehouse project, and township officials were wanting $55,000 more for possible contingencies in the course of the project.
So, best case scenario, the township may only spend $95,000 of the proposed loan, said Steed.
Steed said he is “all for” providing the township $150,000 at zero-percent interest for 10 or 20 years or so, noting the project is a firehouse and EMS facility “that’s going to benefit the health, safety and welfare” of local residents.
Moreover, commissioners in the past have been consistent about doing these type of loans, according to Steed.
Clinton County Commissioners President Patrick Haley said he too is in support. The third commissioner, Brenda K. Woods, was absent Wednesday but will have a chance to weigh in Monday morning when township officials are expected to meet with commissioners.
Also on Wednesday, which was June 6, Haley asked for a moment of silence prior to the pledge of allegiance to observe the 74th anniversary of D-Day during World War II when Allied forces stormed the beaches of Normandy, France.
Reach Gary Huffenberger at 937-556-5768.