Beaufort City Council reduces suggested $3.5 million loan amount


Beaufort City Council is backing away from a plan that would have it borrow more than the $1.85 million purchase price for the 167-acre Beaufort Commerce Park.

However, while a $1 million cash balance means the city only needs to borrow the remaining $0.85 million, council is looking at borrowing the full $1.85 million to hang on to its cash as a buffer for unforeseen issues.

I'll point you to The Island Packet's report on this; read it here.

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