Hoopeston looks at loan program

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December 15, 2009

BY CAROL HICKS The Commercial-News Tue Dec 15, 2009, 09:26 PM CST

HOOPESTON — City council members heard a summary report of the revolving loan program at Tuesday’s meeting from Bill Goodwine, finance chairman and acting mayor protem.

Mayor Bill Crusinberry was absent due to the death of his father.

"We have 65 percent repayment of loans," Goodwine said. "I think we can do better than that."

The revolving loan program has loaned $479,281 since its inception, with $235,874 has been paid off, $77,000 in loans that are current and $87,786 in delinquent loans, according to Goodwine. The program lost about $78,000 in loans to bankruptcy. He added that a couple loans are being paid through the court system.

The revolving loan program’s current balance is roughly $30,000 33,000, according to Goodwine.

In other business:

-- Alderwoman Sue Comstock reminded council members there will be a contractors’ meeting at 7 p.m. Jan. 7 at city hall.

"The meeting is for all contractors," Comstock said, "building, lawn, plumbers, all contractors. It is also open to the public."

-- Learned that the Santa photos taken Dec. 5 are available at the Chamber of Commerce office at city hall. They can be picked up during regular hours, 9 a.m. to 4 p.m. Any photos taken that were not paid for during the photo session with Santa can be paid at the time of pick up.

-- Learned that the income survey still needs 100 more homes surveyed to finished the project.

"Progress is being made," said Jean Minick, chairman of the income survey.

WHAT’S NEXT

The next Hoopeston City Council meeting will be 7 p.m. Jan. 4, at City Hall, 301 W. Main St.

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