There wasn’t a whole lot on the agenda last night for the Two Rivers City Council meeting. One thing they did do however was review a proposed policy manual for the city’s revamped Economic Development Revolving Loan Fund. City Manager Greg Buckley told SeehaferNews.com that it is basically “the old revolving loan fund, with all the federal regulations gone away, which has really encumbered that program.” The change will allow them to make it a more business friendly program. That proposal was tabled until the work session meeting, which is scheduled for next Monday.
The Council also met in a closed session with the City Attorney to talk about the Paragon Partners foreclosure. The City had loaned money to Paragon to repurpose the Paragon building into a bottling plant back in 2014. That project never came to fruition, and the loan is now in default. The next step in the process is a foreclosure sale, which is scheduled for next week.
