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Wednesday, January 25, 2017

County Board approves ending ties between loan fund and Regional Business Fund Inc.

ELLSWORTH - The Pierce County Board of Supervisors voted unanimously at their monthly meeting Tuesday evening at the Pierce County Courthouse to end ties between the County's revolving loan fund and the Regional Business Fund Inc.

The County Loan Fund has no tax money in it and is largely made up of block grants and other economic development grants to serve as capital for business development. It has been in existence since 1997.

The fund has been associated with the Regional Business Fund Inc. for several years. Because new rules and regulations to the Regional Business Fund Inc., it was no longer possible to maintain the relationship as the county fund has both federal and non-federal sources of money in it.

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