Effingham, IL-(Effingham Radio)- The monthly meeting of the Economic Development Advisory Board was held on Tuesday at noon.
The Board started by approving the minutes of the last meeting. Dave Campbell stated that he has received quite a few inquiries about the new building being built by the EPC, and he said it is set to be an office building, not a new restaurant or retail store.
The Board heard about updates from borrowers, moving to apply a loanee’s payments toward principle first, and possibly forgive the rest of the interest on the loan. Campbell also mentioned that funding for the loan fund is expected to hit the account by the end of the month.
The Board then discussed the Intermediary Relending Program, stating that they will ask SCIRP (South Central Illinois Regional Planning and Development) to help write the grant application.
The Board also moved to have a special meeting on August 18th at noon.
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