Village Board Approves Loan, Bonuses, TIF Payments
By Travis Volz
A loan for a local business, bonuses for village employees, and TIF reimbursements were approved at Monday’s meeting of the Okawville Village Board.
Board members voted to approve a loan for potential buyers to assist with the purchase of the building that houses the laundromat and Okawville Pharmacy.
“We have money left over in what used to be the CDAP account that we can use to help local businesses,” said Finance and Contracts Chair Drew Hesker.
The terms of the $25,000 loan is for five years at 2.5 percent interest. Hesker said that the purchase is still pending, and that the paper would only be drawn up if the deal is completed.
Currently the building is owned by Bill Davis, and the Board is using village funds to keep the ownership local.
“A lot of people in town don’t have a washer and dryer, so the laundromat is being utilized by people,” said Village President Dave Jasper.
Hesker also said that the plan is for the pharmacy to keep its lease with the new owners.
Read the full story in this week’s issue