Printer Friendly
Email to a Friend
BEATRICE, Neb. (AP) - The Beatrice City Council has written off $880,000 in outstanding balances on three loans with companies that are no longer operating.
Council members wrote off the balances Monday night after city auditors expressed concern over the debt. The Beatrice Sun reports that the city wrote off a $250,000 loan for Store Kraft, $330,000 of a $600,000 loan for Store Kraft subsidiary 5Stat, and a $300,000 loan for Blue Valley Automation.
City Administrator Tobias Tempelmeyer says the city will continue to collect the money owed on the Community Development Block Grant loans.
Community Development Block Grant loans are meant to support business and activities that stimulate job creation and economic expansion.
© Associated Press
MOST VIEWED STORIES
Atchison woman pleads to charges in fatal crash
3 arrested in Hiawatha drug bust
Updated: Officer shooter search leads to arrest
Former Kickapoo Tribal Chair pleads to child porn-related charge
Atchison man earns prison from injurious outburst
Baniewicz on leave at Bishop Miege; investigation launched
Falls City man sentenced to prison on multiple charges
State Audit discovers alleged financial misconduct
Saturday night construction zone crash injures one
Public health advisory issued for two local lakes
Candidate list finalized in Brown Co
Atchison's Lust found safe following disappearance
Young sex offenders earn sentences in Atchison Co
Falls City Council member rescinds resignation
Death of puppy leads to Atchison arrest
Arrest following search warrant in Mayetta
3 local communities awarded small-town grants
Woman injured after striking object on Nemaha Co highway
LATEST STORIES
Public health advisory issued for two local lakes
Baniewicz on leave at Bishop Miege; investigation launched
Falls City Council member rescinds resignation
Atchison proclamation of Juneteenth made Monday
Death of puppy leads to Atchison arrest
Charges filed in fatal Holt County MO crash
Wellness recovery program coming to SE Nebraska
Auburn native to seek NU Board of Regents seat
Hiawatha, Ks 66434