1:55 am on Thursday April 19, 2012
| Posted by Ken Hawkins
Beaufort City Council reduces suggested $3.5 million loan amount
TheDigitel
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.
- Be sure to stay tuned to our commerce park topic page for developments.