January 23, 2020

EDC sub-committee gathers information for fairground financing.

Posted

ARENAC COUNTY— Developments for the fairgrounds continue as the sub-committee of the EDC works on the new location of the fairgrounds. Right now the fairgrounds committee is gathering information on financing and received an engineering report a couple of months ago. 

According to Adam Kroczaleski, chairman of the board of commissioners, the committee recently had a meeting with the United States Department of Agriculture (USDA) which was the first step in figuring out finances. The USDA gave the option of a 40-year loan to finance the entire project, though the county has not yet applied for a loan or submitted an application. The committee is still looking at different options for payment, though they could finance the project through the USDA if needed, said Kroczaleski.

The county is also talking to a bond counsel and firm that will gather information on the fairgrounds and how it will generate revenue and put together a cost estimate to help determine what the best option for loans and payments would be.

The sub-committee will meet to discuss more information on the fairgrounds’ finances after the new year. 

The 2020 fair will still be held at the old fairgrounds while the committee continues to develop the new location. 

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