Town of Creston Special Council Meeting Agenda May 7, 2024
Airport Society Loans Remain Active Under Town Agreements
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Description
Creston Valley Regional Airport Society continues to operate under municipal loan agreements for operating cash and caretaker residence purchase, with repayment ongoing.
Contract Details
Contract Amount
$25,001 working capital loan (no interest, repayable upon end of operating agreement); $107,000 residence loan (10-year term at 3%, balance at Dec 31, 2023: $46,655)
Vendor
CRESTON VALLEY REGIONAL AIRPORT SOCIETY
Agency
Town of Creston, Canada
Contract Type
OTHER
Document Date
May 7, 2024
Contract Term
Working capital loan since 2010; Residence loan: 10 years from 2017 (matures 2027)
Renewal Date
2027-11-01
Renewal Info
Residence loan matures 2027; working capital loan repayable at agreement end.
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