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(KLZA)--The Falls City Council approved a resolution Monday night for loan forgiveness in an amount of $155,250 for Falls City Foods, LLC.
The amount is half of the the Community Development Block Grant awarded to the business. City Administrator Anthony Nussbaum pointed out that it was not city funding that went to the project. The City was simply the pass through entity to get the funds to Falls City Foods.
Falls City Foods met their requirements for the loan forgiveness which required creation of 10 full-time equivalent positions and maintaining their baseline of 20 full-time equivalent positions.
The Council also approved a resolution to purchase real estate at 1612 Fulton Street for the Rural Workforce Housing Fund Project which will move the title for the property from the Land Bank to the City.
A home will be built on the property and then sold.
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