Revolving Loan Fund stirs more talk in Iroquois County
The re-start-up of Iroquois County’s revolving loan program again generated discussion by the Iroquois County Board Tuesday.
The county’s Economic Development Association is pushing for support to keep start-up monies available for businesses showing interest in Iroquois County. But the revolving loan has also resulted in those who benefit not following thru with pay-back responsibilities. That -- finds some board members questioning whether the local government should be in the banking business ?
The Executive Director of IDA, Ken Barragree, points out, the county would control the fund, as it always has in the past. He also said any money in the fund is transferable, should the county find need.
A committee of county board members and professionals in the community would review applications before such loans would be approved.
County Board Chairman John Shure said more work needs to be done before the matter comes back to the finance committee.
Still struggling with financial shortfalls, the Kankakee County Board (Tuesday) discussed the continuing borrowing from other funds to meet payment requirements.
Board Chairman Andy Wheeler said the borrowing practice will continue until the public, hopefully, comes to the rescue and approves a public safety sales tax referendum.
Wheeler explained ‘every dollar spent is borrowed money, funds borrowed from other funds or tax anticipation warrants.” Wheeler said the revenues aren’t there to cover necessary payments.
When the fiscal year ended in November, county government had transferred over $6-million into the general fund to meet required payments.
The practice of borrowing from other funds will be necessary until the revenue line improves. That, Wheeler said, could be when the public agrees to the quarter-cent sales tax that’ll be on the ballot in April.
Nine area fire departments answered a call to the former Route 1 auction building north of Watseka early today (Wednesday). The building at State Route 1 and County Road 2189 N is listed a “total loss,” according to Martinton Fire Chief Jim Seabert.
The Grovensvor family had several vehicles in the approximate 40 by 60 foot structure. Some of the contents was saved.
No injury was reported.
Seabert said flames were shooting from the roof when firemen arrived just after midnight. The fire originated in the back of the building on the north-west side. The cause is under investigation.
Two bodies have been found by Deer Creek near Delphi. During a press conference Tuesday afternoon, Sargent Kim Riley announce that two bodies were found a mile east of Delphi on the edge of Deer Creek around 12:15 p.m. on Tuesday.
There has been no positive identification and the area is being treated as a crime scene Foul play has been suspected.
A search resumed today (Tues) for two missing girls, Liberty German and Abigail Williams, both 13 -years-old. The girls were last seen near an abandoned railroad bridge Monday afternoon.