BOCC, Port Authority agree on additional loan

Published: Thursday, July 31, 2014 at 09:53 AM.

After nearly two hours of debate on whether the Port Authority should accept the county’s loan or enter into an agreement with a private lender who responded to an advertisement for proposals on a line of credit, Eugene Raffield made the motion to accept the BOCC proposal but ask that it to be raised.

“I move we accept and ask for an extra $20,000,” Raffield said, adding that he believed the BOCC could meet that number by taking it out of money from the former Gulf County Economic Development Alliance, Inc.

The EDA reimbursed the county some $46,000, which last week was put in reserves.

“I guess we’ll find out if the county is going to support us or axe us,” Raffield said.

Novak suggested the motions, to accept the offer and ask for more, be separated.

Last week’s meeting was the conclusion of months of communication between the BOCC and Port Authority regarding the progress toward dredging the shipping channel and the Authority’s need for basic operating dollars.

Urgency was injected when the Port Authority advertised for proposals on a half million dollar line of credit.

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